Caixa Econômica Federal (CEF) posted net income of R$ 3.2 billion (US$ 620m) in 3Q22, an increase of 75.9% in the quarter and 0.5% compared to 3Q21. The growth in relation to 2Q22 was possible through the increase in revenues from service provision and improvement in the quality and solidity of the portfolio due to the consistent risk management of the institution, reaching 92.5% of the portfolio classified with the risk level AA-C, the best index of the historical series.
This information was disclosed on Wednesday (9), when Caixa Econômica Federal announced the consolidated results for the third quarter of 2022.
The institution's shareholders' equity reached R$ 122.8 billion (US$ 23.8b), an increase of 10.1% in the last 12 months. In agribusiness, CAIXA maintained strong growth in hiring during 3Q22, with a growth of 204.4% compared to the same period of 2021, reaching R$ 12.9 billion (US$ 2.5b).
Lotteries raise US$ 1.1 billion
In 3Q22, Loterias CAIXA raised R$ 5.6 billion (US$ 1.1b), the highest revenue in a quarter of the historical series, being 20.9% higher than in the same period of the previous year and 4.6% compared to 2Q22.
Loterias CAIXA, in addition to feeding the dreams of millions of bettors, are an important source of resources to foster the social development of Brazil.
In 3Q22, R$ 2.2 billion (US$ 426m) were allocated, equivalent to 39.6% of the total, to the social programs of the Federal Government in the areas of social security, sports, culture, public safety, education and health, a value that is 22.6% higher than that destined in 3Q21, in addition to income tax payments.
Source: GMB
