Loterias CAIXA collection drops 0.3% in 1H and reaches US$ 2.06 billion

Caixa has just released its results for the second quarter of 2023 and the accumulated result from January to June. Its net profit from April to June was R$ 2.6 billion (US$ 520m), an increase of 40.9% compared to the same period last year.

In the first half, profit reached R$ 4.5 billion (US$ 902m), 3.2% higher than that achieved in the first half of 2022.

Loterias CAIXA raise R$ 10.3 billion (US$ 2.06bn)

In the first half of this year, Loterias CAIXA collected R$ 10.3 billion (US$ 2.06bn), a figure 0.3% lower than that calculated in the same period of the previous year. The total net prize delivered to bettors in the semester was R$ 3.2 billion (US$ 642m).

Loterias CAIXA are an important source of funds to promote social development in Brazil. In 1H23, R$ 4 billion (US$ 802m), equivalent to 39.2% of the total, were allocated to the Federal Government's social programs in the areas of social security, sports, culture, public safety, education and health.

This amount is 1.4% higher than that allocated in 1H22, in addition to the return to society via income tax payments.

Among other balance sheet highlights, Caixa points out:

• Net Income of R$2.6 billion (US$ 520m) in 2Q23, 40.9% higher than 2Q22;
   
• Net Income of R$4.5 billion (US$ 902m) in 1H23, 3.2% higher than 1H22;
   
• The financial margin in 1H23 reached R$ 28.8 billion (US$ 5.77bn), an increase of 22.9% compared to 1H22, mainly due to the improvement in revenues from credit operations;
   
• Total loan portfolio with a balance of R$ 1.062 trillion (US$ 213bn), growth of 14.4% over 2Q22, being the largest national portfolio.

Source: GMB