BDORY - Banco do Brasil S.A. (BDORY) Q4 2023 Earnings Call Transcript
2024-02-09 14:36:08 ET
Banco do Brasil S.A. (BDORY)
Q4 2023 Earnings Conference Call
February 09, 2024 09:00 AM ET
Company Participants
Janaina Storti - Head of Investor Relations
Tarciana Medeiros - Chief Executive Officer
Geovanne Tobias - Chief Financial Officer
Felipe Prince - Chief Risk Officer
Conference Call Participants
Daniel Vaz - Safra
Bernardo Guttmann - XP
Mario Pierry - Bank of America Merrill Lynch
Renato Meloni - Autonomous
Tito Labarta - Goldman Sachs
Pedro Leduc - Itau
Yuri Fernandes - JPMorgan
Gustavo Schroden - Bradesco
Nicolas Riva - Bank of America Merrill Lynch
Arnon Shirazi - Santander
Presentation
Janaina Storti
Hello. Good morning, everyone. I am Janaina Storti, General Manager of Investor Relations of Banco do Brasil. Welcome to our video conference to announce the results of the Fourth Quarter of 2023. Our event will be in Portuguese with simultaneous translation into English, and you can choose between three audio options, original, Portuguese or English.
Present with me today are our President, Tarciana Medeiros, the Vice President of Financial Management and Investor Relations, Geovanne Tobias, and the VP for Internal Controls and Risk Management, Felipe Prince.
We will begin with a presentation of the results followed by a Q&A session. We would like to remind analysts that questions should be asked using the link provided.
Now to begin, I would like to turn the floor to our President, Tarciana.
Tarciana Medeiros
Good morning. Good morning, everyone. Thank you so much for joining us this morning for another presentation of our results. I would like to apologize for this late beginning because our Press Conference was a bit delayed. I wasn't able to attend the last earnings release due to sick leave, but I am fine now and I would also like to emphasize it here, we are a team. I was very well represented by my colleagues, Marco Geovanne and Felipe Prince, at the last event, just as I am very well accompanied by them here today.
But we are 125,000 employees of the BB conglomerate throughout Brazil in the world. Together, and mixed, we have completed a year of management, delivering excellent results and creating value for society. But before I get into the numbers, I would like to thank my colleagues for this excellent delivery.
Today, we are very proud to announce the most impressive annual result in our history. Well, guys, Banco do Brasil posted a record adjusted net income of R$35.6 billion in 2023, a record this year, an increase of more than 11%, when compared to 2022. In the fourth quarter alone, net income stood at R$9.4 billion, an increase of 7.5%, when compared to the previous quarter. Our return on equity was 21.6%.
A strong Banco do Brasil means support for a robust economy. Our performance enabled us to generate R$86 billion in added value to society. We are very proud of our ability to deliver consistent financial performance, turning challenges into opportunities even in a very competitive and constantly evolving business environment....
Banco do Brasil S.A. (BDORY) Q4 2023 Earnings Call Transcript