Banco Pan reports 2% higher profit in 4QR23

Banco Pan reports 2% higher profit in 4QR23
Banco Pan reports 2% higher profit in 4QR23
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Banco Pan (BPAN4) recorded an adjusted net profit of R$195 million in the fourth quarter, showing an annual increase of 2%. However, compared to the previous quarter, there was a drop of 1.5%.

The bank’s Return on Equity (ROE) reached 11.1%, marking a reduction from 11.5% in the fourth quarter of 2022 and the previous quarter. The credit portfolio ended the year at R$41.8 billion, representing growth of 6.8% in the quarter and 7.1% compared to the same period of the previous year.

The institution released its balance sheet this Thursday (1).

Pan Bank

The BTG Pactual/Banco Pan conglomerate ended 2023 occupying the leading position in the ranking of complaints directed to the main financial institutions, as released by the Central Bank (BC), referring to the fourth quarter of last year.

Leading the list of 15 institutions with the highest number of customers, BTG Pactual/Banco Pan recorded 34.11 points in the ranking, with 791 complaints considered valid, in a customer base of 23.2 million. In second place was Pagbank-Pagseguro (20.35 points), followed by Bradesco (18.96 points), Inter (18.61 points) and C6 Bank (15.23 points).

The ranking is prepared based on an indicator calculated by the Central Bank based on complaints received through the agency’s service channels. This indicator takes into account the total number of complaints, those considered valid and the size of each financial institution’s customer base.

In addition, there is a second ranking that encompasses the other banks, financial institutions and payment institutions that registered more than thirty valid complaints in the quarter. In this section, the leaders in complaints were: Banco Inbursa (821.07 points), Master (255.46 points), Pine (218.41 points), Agibank (145.87 points) and Iugu Instituição de PayPal SA (112. 35 points).

The company

Banco Pan is a Brazilian financial institution that offers a variety of products and services, including banking services, loans, financing, credit cards, among others. Founded in 1969 as Banco Panamericano, its name changed to Banco Pan in 2013.

The bank is known for its retail-oriented operations, serving mainly individual customers. Furthermore, its majority shareholders are Caixa Econômica Federal and BTG Pactual.

The article is in Portuguese

Tags: Banco Pan reports higher profit #4QR23

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