Banco do Brasil's Profit Drops 65% in Third Quarter
Journalist, postgraduate in marketing and master's in communication and consumption. Specialist in communication and consumption and political analysis.
TL;DR
- Banco do Brasil's adjusted net profit for Q3 2026 was R$ 1.3 billion, down 65.6% year-over-year.
- The bank revised its 2026 profit forecast downwards by up to 59%, from R$ 18-22 billion to R$ 9-11 billion.
- Increased non-performing loans in agribusiness and higher credit costs (R$ 21.2 billion) are cited as major reasons for the decline.
- The Q3 2026 profit of R$ 1.3 billion is significantly lower than the R$ 8 billion profit in Q3 2022 during Jair Bolsonaro's term.
- The bank's cumulative adjusted profit for the first nine months of 2026 was R$ 8.6 billion, impacted by increased provisions for potential defaults.