From Investing.com: 2024-11-12 05:35:46

Brazil’s Banco BTG Pactual reported a 15% increase in adjusted net income for the third quarter, reaching 3.21 billion reais. Revenue also grew by 14% to 6.45 billion reais, with record revenues in various business sectors. Despite challenges in the market, the bank’s return on average equity was 23.5%.

The central bank’s interest rate hike did not hinder BTG’s growth, with investment banking revenue down 36%. The bank received preliminary approval to acquire AccorInvest’s hotel operations in Brazil for 1.7 billion reais. BTG funds hold $5.5 billion in assets in the real estate sector, primarily in Brazil.

BTG issued a $500 million 5-year Unsecured Senior Note in October through its Cayman Islands branch at a yield of 5.875%, the lowest spread ever for the bank. ($1 = 5.7544 reais)



Read more at Investing.com: Brazil’s BTG Pactual reports surge in quarterly profit By Reuters