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BTG Pactual third-quarter loss from brokerage revenue


Revenues, excluding extraordinary items, amounted to USD 685 million, a decrease of 9.75% compared with the same period in 2017

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Report from Alwah Alves, Reuters


November 5, 2018, at noon 21:59 – posted on November 5, 2018 at. 21:55

Sao paul o BTG Pactual In the third quarter, the decline in revenues was mainly due to a sharp drop in revenue from trading and trade (brokerage) business.

The largest independent investment bank Latin america On Monday, it announced that its earnings, excluding extraordinary items, amounted to 685 million in the period, which is 9.75 percent lower than in the same period in 2017. Gradually, the result was stability.

Taking into account the accounting result, the basis for compensation paid to shareholders was profit of 585.5 million times, which increased by 16.9 percent year-on-year.

The group's total revenue decreased by 24 per cent to 1.255 billion in comparison with the corresponding period of the previous year, mainly due to poor financial intermediation by the conglomerate companies, and 77% lower revenues were related to "low risk appetite due to challenging market conditions and low volume in emerging markets, in particular in Brazil. "

Other divisions, such as investment banking, corporate lending and third party asset management, increased revenue but only mitigated the overall weakness of the result. The volume of loans closed in September amounted to 26.1 billion, which in the 12 months was 20.9%, thus increasing by 69.4% last year.

The most significant quarter was 15.5 percent of the decrease in operating expenses to 595.7 million real expenses.

However, this was not enough to keep the annual profit margin by 2.2 percentage points to 14.3 percent.

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