The results presented to the market by Caixa Econômica Federal continue to show an excellent performance for the bank's lottery area.
“The Loterias CAIXA, in addition to feeding the dreams of millions of players, are an important source of funds to foster Brazil's social development,” said the institution when disclosing the results.
In the analyzed period, R$ 2.1 billion (US$ 407m), equivalent to 38.5% of the total, were allocated to social programs in the areas of social security, sports, culture, public security, education and health, an amount 6.7% higher to that allocated in 2Q21 and 7.2% higher than in 1Q22, in addition to income tax payments.
In addition to the results of Loterias CAIXA, the bank highlights some data from the period, such as the 20.7% growth in the payroll loan balance compared to the second quarter of 2021, reaching R$90.2 billion (US$ 17.5bln).
The agricultural sector was also pointed out as an excellent portfolio, with growth of 247.3% in hiring compared to the same period last year.
The bank indicated that in the second quarter of 2022 it had the lowest default rate among large Brazilian banks (1.89%) and a reduction of 0.57 p.p. over 2Q21.
Its performance as a social bank was also highlighted. “Caixa actively contributes to eradicating poverty and improving the income distribution of the Brazilian population. In 2Q22, through its own service channels or through its partner network, Caixa paid 90.2 million installments of social programs, worker benefits and INSS benefits in all Brazilian municipalities, totaling R$71,2 billion (US$ 13.8bln) in benefits paid”, said the institution in text of the balance sheet for the period.
Source: GMB
