Quarterly ResultJul 29, 2026, 01:22 PM
Santander Brasil Q2 Recurring Net Profit R$3.0B, Down 20.4% QoQ
AI Summary
Banco Santander (Brasil) S.A. reported a recurring managerial net profit of R$3.0 billion for Q2 2026, marking a 20.4% sequential and 17.6% year-over-year decline, with recurring ROAE at 12.5%. Total revenues were R$20.7 billion, showing slight year-over-year growth but a quarterly decrease. The expanded loan portfolio and client funding demonstrated solid growth, while the result from loan losses increased significantly due to a challenging credit environment and specific provisions. The company maintained expense control, with general expenses decreasing QoQ and growing below inflation YoY.
Key Highlights
- Recurring managerial net profit was R$3.0 billion, down 20.4% QoQ and 17.6% YoY.
- Recurring ROAE stood at 12.5%, a decrease of 3.4 p.p. QoQ and 3.8 p.p. YoY.
- Total revenues reached R$20.7 billion, up 0.4% YoY but down 2.7% QoQ.
- Expanded loan portfolio grew 1.3% QoQ and 5.8% YoY to R$714.8 billion.
- Funding from clients increased 3.7% QoQ and 6.9% YoY to R$688.5 billion.
- Result from loan losses totaled R$7,654 million, up 20.6% QoQ and 11.5% YoY.
- General expenses decreased 0.8% QoQ and increased 2.6% YoY to R$6,578 million.
- NPL ratio (over 90 days) was 3.3%, stable QoQ but up 0.7 p.p. YoY.
Price Impact
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