Petrobras and BNDES record drop in profits in 2023


Some of the main state-owned companies in Brazil — Petrobras and National Bank for Economic and Social Development (BNDES) — recorded a combined net profit of R$136 billion in 2023. The result shows a general drop in performance, compared to the previous year.

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Petrobras led the way. According to the state-owned company’s management, the drop in profits was due to the devaluation of oil on the international market. The company claims that the type barrel Brentfor example, showed a drop of 18% in 2023, compared to 2022.

Read also: “Swiss company admits guilt in corruption scheme involving Petrobras”

In the case of BNDS, management claims that the basis for comparison with 2022 was harmed by the sale of shares that year — which was not repeated last year. In 2023, the bank recorded a profit of approximately R$12 billion. This result is 5% lower than that recorded in 2022.

Under the Luiz Inácio Lula da Silva government, the BNDES sought to dispose of shares in different companies, such as Petrobras and Vale.

National Development Bank (BNDS)National Development Bank (BNDS)
The bank sought to dispose of shares in different companies, such as Petrobras and Vale | Photo: Reproduction/Twitter/X

Already the Mail ended 2023 with a loss of R$597 million, according to the report released by the state-owned company and published in Official Diary of the Union (GIVE) on Thursday 28. Despite the loss, there was a 22% reduction compared to the previous year (-R$ 768 million).

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Among the factors that contributed to the reduction in expenses in the international segment are the growth of e-commerce foreigner in Brazil and investment in deliveries.

Read more: “MP asks TCU for investigation into Lula’s interference in Petrobras”

In the opposite direction, Banco do Brasil and Caixa recorded better results in 2023. In the first case, for example, there was a profit of R$35.5 billion (+11%). In the second case, the profit was R$10.6 billion, 15.5% above the previous year.

Read also: “Petrobras for ‘everyone, everyone and everyone’”

The article is in Portuguese

Tags: Petrobras BNDES record drop profits



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