Santander Brasil(US:BSBR)2024-04-30 14:24Financial Performance & Profitability - Santander Brasil reported a managerial net profit of R$ 3.0 billion in 1Q24, representing a 37.1% increase QoQ and a 41.2% increase YoY [79] - Total revenues reached R$ 19.676 billion in 1Q24, up 4.7% QoQ and 14.1% YoY [79] - Net interest income (NII) grew to R$ 14.790 billion, marking a 7.3% increase QoQ and a 14.5% increase YoY [50, 79] - Managerial ROAE reached 11.4% in 1Q24, representing an increase of 0.7 percentage points YoY [90] Loan Portfolio & Asset Quality - The expanded loan portfolio grew by 1.7% QoQ and 8.1% YoY, reaching R$ 654.020 billion as of March 2024 [37] - Allowance for loan losses (LLP) improved to R$ 6.043 billion, down 11.6% QoQ and 10.7% YoY [79] - Over-90-day NPL ratio for individuals stood at 4.3% in 1Q24, while total NPL remained controlled at 3.0% [73] Funding & Strategic Businesses - Total client funding reached R$ 623.427 billion in 1Q24, achieving a 10.1% growth YoY [52] - Fee income totaled R$ 4.886 billion, showing a 12.8% growth YoY despite a 2.4% decrease QoQ [53, 79]