BTG Pactual reports record revenue and net income for the second consecutive quarter, totaling R$3.8bn and R$1.8bn, respectively
Bank posted strong growth in all business lines, maintaining robust capital and liquidity metrics
- Net New Money (NNM) of R$88bn in 3Q21
- AuM/WuM of R$942bn, up 71% y-o-y:
- AuM/AuA grew 65% y-o-y to R$542bn
- WuM grew 81% y-o-y to R$400bn
- Corporate and SME Lending portfolio of R$98bn, up 43% y-o-y
- Total revenues up 55% y-o-y reaching R$3.845bn
- Adjusted net income up 77% y/y reaching R$1.794bn
- Robust capital and liquidity metrics:
- BIS ratio of 16.1%
- LCR of 214%
- ROAE of 20.1%
SÃO PAULO, Nov. 10, 2021 /PRNewswire/ -- BTG Pactual (BPAC11) reported, for the second consecutive quarter, record revenues and net income of R$3.8bn and R$1.8bn, respectively. BTG also posted its second highest Net New Money (NNM) in history of R$88bn, only below Q2´s R$98bn, which included R$12bn from the acquisition of Necton (inorganic NNM reported last quarter). As a result, the amount of Assets under Management and Wealth under Management (AuM/WuM) achieved R$942bn.
"We reported another quarter of record results with strong net inflows, robust capital and liquidity metrics and a high-quality credit portfolio growth. I would like to thank our clients for recognizing the quality of our business, supported by the seven awards granted to us during the quarter", stated Roberto Sallouti, CEO of BTG Pactual.
Investment Banking reported another quarter of record revenue, an 81% y-o-y growth, from R$402mn to R$727mn. As a result, BTG Pactual ended the quarter with leading position in the industry rankings: M&A, ECM and, for the first time ever, as leader of International DCM – Brazil market. It's worth noticing that we have concluded 40 DCM transactions in this quarter.
The Corporate and SME Lending portfolio achieved R$97.6bn, up 13% q-o-q and 43% y-o-y, with adequate provision levels. Revenues rose 51% y-o-y to R$642mn.
Sales & Trading posted revenues of R$1.3bn, with higher contribution from client activities and part of the gains of CredPago's sale – the transaction was approved by regulators in September. Further contribution from CredPago is expected to materialize in 2022 and 2023.
Asset Management posted record NNM for the fourth consecutive quarter of R$50bn (R$163bn LTM) and revenues achieved R$291mn, up 14% y-o-y.
Wealth Management & Consumer Banking has also reported record revenue of R$410mn, up 9% q-o-q and 75% y-o-y. WuM achieved R$400bn, an 81% y-o-y growth. NNM ended the quarter at R$38bn, also up 81% y-o-y.
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