BTG Pactual Reports Record Quarter for Revenues and Net Income, with ROAE of 21.5%


With continued growth in client franchises, assets under management reached R$1.04 trillion, up 36% year-on-year

SAO PAULO, May 9, 2022 /PRNewswire/ —

  • Adjusted net income increased 72% year-on-year to reach R$2.1 billion

  • Revenue grew 56% year-on-year to reach R$4.4 billion

  • Client Assets on Custody (AuC) totaled R$1.04 billionup 36% year-on-year

  • Solid measures of capital and liquidity:

  • Return on adjusted equity (ROAE) of 21.5%

BTG Pactual (BPAC11) published record quarterly results, announcing adjusted net profit of R$2.1 billion in 1Q22, up 72% year-on-year. Revenues were also a record at R$4.4 billion, up 56% year-on-year. Another highlight was the adjusted return on average equity (ROAE) of 21.5%, the highest since 2016.

Commenting on quarterly results, CEO Roberto Salouti said “This quarter confirmed our track record of strong performance regardless of the macro scenario. Even in a more challenging economic environment, we ended the first quarter with record net income and revenue, fueled by our business model. “integrated business and through our expansion into new segments. We are confident in the strong growth of our business, the maintenance of a well-capitalized balance sheet and high liquidity. As always, we will continue to work to always provide the best result, with a focus on creating value for our customers and shareholders”.

Investment Banking maintained its leadership in the sector rankings despite weaker market activity. Total revenue was R$351 millionthe main contributions from M&A and DCM.

Corporate and SME loans recorded record turnover for the second consecutive quarter, at R$817 million, up 47% y/y and 10% q/q. The portfolio totals R$111.1 billion in 1Q22, up 38% year-on-year.

Sales & Trading posted its best result since 2016, with a turnover of R$1.48 billion (+83% y/y), and with a strong contribution from client franchises. In a more volatile market environment, the zone maintained an effective risk allocation (VaR of 0.32%, below the historical average).

In Asset Management, assets under management and administration (AuM and AuA) total R$586 billion, up 30.2% year-on-year. NNM was R$23.6 billion in 1Q22 and R$140.7 billion over the past twelve months. Asset Management revenues total R$313.1 million over the period, up 18.3% year-on-year.

Wealth Management & Consumer Banking recorded record revenue of R$570.4 million, up 93.5% y/y and 27.6% q/q. Assets under management (WuM) total R$458 billionup 44% year-on-year, and NNM was R$28.3 billion in 1Q22 and R$161.2 billion over the past twelve months.

In 1Q22, BTG Pactual recorded total net New Money (NNM) of R$52 billion and exceeded R$1,000,000,000 client assets under management and administration (AuM/WuM), up 36% year-on-year.

The Liquidity Coverage Ratio (LCR) was 166%, while the BIS ratio ended the quarter at 15.0%.


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