Caixa Economica Federal (CEF) announced this Thursday (18), the consolidated result for the third quarter of 2021. The largest Brazilian bank in number of customers, credit, digital accounts and savings deposits, CEF is the only bank with a AAA rating in the strength index of the brand, being the third most valuable in Brazil for the second consecutive year, by Brand Finance.
In the consolidated result, Caixa announced net income of R$3.2 billion (US$ 580m) in the third quarter, an increase of almost 70% compared to the same period last year. In the first nine months of 2021, net income was R$14.1 billion (US$ 2.6bln), an increase of 87.4% compared to the nine months of 2020. In these nine months, it was the second best profit in history and greater than any other annual results, except 2019.
In the statement, Caixa reported having achieved the best score in the integrated governance and management index (iGG) among state financial institutions. The index was developed by the Federal Court of Accounts (TCU) to assess the processes related to the management and governance of public institutions and is composed of the following indices: public governance, people management, IT management and contracting management.
Lotteries
The Caixa Lotteries collected R$ 4.2 billion (US$ 765m) in the third quarter of 2021, an amount 4.1% higher than the same period last year. Of this total, R$1.8 billion (US$ 327m) was transferred to the federal government's social programs in the areas of social security, sports, culture, public security, education and health, as required by law.
Social Bank
In the period from 2019 until now, more than R$926 billion (US$ 168bln) in social benefits have been paid, of which R$572.2 billion (US$ 104bln) in unemployment insurance, family allowance, salary bonuses and others; and R$399.2 billion (US$ 72.5bln) in emergency benefits, such as emergency aid, emergency benefit to maintain employment and income and emergency withdrawal from the FGTS.
In the third quarter, Caixa paid R$22.7 billion (US$ 4.11bln) in emergency aid to 36 million beneficiaries. In 2021, the value reached R$49 billion (US$ 8.9bln). The emergency aid created by the government and operated by CEF ensured the bank the record opening of more than 109 million free digital social savings accounts by Caixa Tem.
Source: GMB / Caixa
