BSBR - Banco Santander (Brasil) S.A. (BSBR) Q1 2024 Earnings Call Transcript
2024-05-04 06:52:04 ET
Banco Santander (Brasil) S.A. (BSBR)
Q1 2024 Earnings Conference Call
April 30, 2024 9:00 AM ET
Company Participants
Camila Toledo - Head of Investor Relations and Market Intelligence
Mario Leao - Chief Executive Officer
Gustavo Alejo - Chief Financial Officer
Conference Call Participants
Daniel Vaz - Safra Bank
Mario Pierry - Bank of America
Eduardo Rosman - with BTG
Thiago Batista - UBS
Yuri Fernandes - JPMorgan
Eduardo Nishio - from Genial
Brian Flores - Citibank
Tito Labarta - Goldman Sachs
Gustavo Schroden - Bradesco BBI
Presentation
Camila Toledo
Good morning, everyone, and thank you for joining us this morning to be with us during the Results for the First Quarter 2024. This event is being broadcast live from our headquarters in Sao Paulo and, as always, it will be divided into three parts. First our CEO, Mario Leao, will talk about the main highlights of the period and also the strategies by which we will continue to direct our growth in the coming quarters.
Next, our CFO, Gustavo Alejo, will present a detailed analysis of our performance. And finally, we will have our Q&A session, during which you will be able to interact directly with our leadership.
Before we begin, I would like to give you some instructions. We have three audio options on the screen, all the content in Portuguese, all the content in English or the original audio. The first two options will have simultaneous translation. To choose an option, just click on the button at the bottom center of your screen. To ask questions during the Q&A session, simply click on the hand icon at the bottom of your screen. Questions will be answered in the language in which they are asked. Today's presentation is now available to download from our IR website.
Now I hand it over to Mario Leao to begin the presentation.
Mario Leao
Good morning, everyone. It's a great pleasure to be with you during the release presentation of the first quarter. We are here live. And as usual, I'll start with a brief summary that we will further elaborate. I will give you the first takeaways for the quarter and what we expect going forward.
Looking to the left of the screen here, we highlight a few numbers that show the evolution of some of our results accounts and also how we are positioning the bank for 2024 and going forward. So this is about 2024, but also, we will refer to the next coming years.
Our NII is growing 14%. We will then highlight that it grows both in terms of market NII and client NII. We have a positive market NII after quite some time. We also have fees and funding growing at two-digits. And this is quite important because it reinstates what we've been mentioning to the market, which is the need to diversify our portfolio. We build our first initial growth cycle with great reliance on the market and credit, especially low income. So since 2022, we've been pursuing credit, but a more diversified loan portfolio.
And also, we want to increase fees out of a very large base. And also, we would -- we wanted to put more emphasis in funding. So this quarter, we show you how diversified our portfolio is with important and significant numbers, okay? Also, we have AOL like going down. Our diversification of our portfolio is good. We are building new vintages since 2022 with a better credit quality. We've been testing and retesting our loan portfolio....
Banco Santander (Brasil) S.A. (BSBR) Q1 2024 Earnings Call Transcript