Brazil’s BTG Pactual reports record net income, revenue in Q2

Brazilian lender Banco BTG Pactual SA BPAC3.SA on Tuesday reported a 23.2% rise in second-quarter net income to a record 2.07 billion reais ($405.01 million), citing an “especially strong” performance in its fee-based business units.

The company’s total revenue also reached a record for a quarter at 4.51 billion reais, up 19.7% from a year earlier, despite what it called volatile international markets and a challenging local macroeconomic scenario.

Both metrics came in slightly ahead of expectations from analysts polled by Refinitiv, which were at 1.98 billion reais for net income and 4.3 billion reais for revenue.

Reporting by Gabriel Araujo, Editing by Louise Heavens, Kirsten Donovan – Reuters via Nasdaq

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