2024-07-24 15:40:28 ET
Banco Santander (Brasil) S.A. (BSBR)
Q2 2024 Results Earnings Conference Call
July 24, 2024, 09:00 AM ET
Company Participants
Camila Toledo - Head of Investor Relations and Market Intelligence
Mario Roberto Opice Leão - Chief Executive Officer
Gustavo Alejo Viviani - Chief Financial Officer and Investor Relations Officer
Conference Call Participants
Brian Flores - Citigroup
Daniel Vaz - Safra Bank
Jorge Kuri - Morgan Stanley
Mario Pierry - Bank of America
Matheus Guimarães - XP Inc.
Thiago Batista - UBS
Pedro Leduc - Itaú BBA
Yuri Fernandes - J.P. Morgan
Eduardo Nishio - Genial Investimentos
Presentation
Camila Toledo
Good morning, everyone. And thank you for joining us today during our conference call for the results of 2024, the first quarter. We are here in our headquarters in São Paulo and we'll be dividing this event into three parts.
First, our CEO, Mario Leão, will talk about the main highlights of the period and the strategies by which we will continue to drive our growth in the coming quarters. Next, our CFO, Gustavo Alejo, will provide a detailed analysis of our performance. And finally, there will be a Q&A session.
I will now 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. To pick an option, just click on the button at the bottom center of your screen. To ask questions, just click on the hand icon at the bottom of your screen.
Today's presentation is available for download on our IR website.
Now, I hand over to Mario to start the presentation.
Mario Roberto Opice Leão
Good morning, everyone. Well, it's 10 o'clock sharp and we are live. And this is the second quarter results conference call. And I would like to start by showing you the main highlights. I'll start with the column in the middle with the numbers. I think you've already seen it.
And as you know, once again, we had a very clean quarter, as I like to call it, with some one-off events, which are posted in our results. We grew 10% quarter-on-quarter, over R$3.3 billion. So once again, we reached R$3 billion level this quarter. And this shows that we are showing a consistent growth of our portfolio growth and results delivery. And in the next quarter, good operating results.
And we had increase in profitability. Our profitability year-on-year is 15.5%. And this is an evolution when compared to 14.1% of last quarter, where we already showed an ROE. above our cost of capital. So in terms of results, growth and profitability, it's a good performance. And this is testimony that we are really moving forward in the right direction.
On the left hand side, we have a year-on-year view and how our results performed. Our NII. increased by two digits. We will give you more details. And during the Q&A, we can give you more information about client NII, market NII.
We also had consistent progress in fees. And this shows that we are going to the direction of portfolio diversification. So, since 2022, we've been saying that we need to diversify. We needed to diversify the macro numbers of the bank. We have a credit position, which is different, more balanced, in terms of different income brackets and more funding and fees. The idea is to grow fees above our margin growth. ...
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Banco Santander (Brasil) S.A. (BSBR) Q2 2024 Earnings Call Transcript