Banco do Estado do Rio Grande do Sul Reports Consolidated Earnings Results for the Second Quarter and First Half of 2016; Provides Recurring Return on Average Shareholders' Equity Guidance for the Year 2016
August 10, 2016
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Banco do Estado do Rio Grande do Sul reported consolidated earnings results for the second quarter and first half of 2016. For the quarter, the company reported net income of BRL 201.5 million against BRL 192.9 million a year ago. Adjusted net income was BRL 201.5 million against BRL 192.9 million a year ago. Other recurring operational income was BRL 95.6 million against BRL 74.1 million a year ago. Income from services and fees was BRL 426.6 million against BRL 351.1 million a year ago. Earnings per share were BRL 0.49 against BRL 0.47 a year ago. ROAA was 1.2% against 1.2% a year ago. ROAE was 13.2% against 14.0% a year ago. Net interest income was BRL 1,269.4 million against BRL 1,088.1 million a year ago. Operating income was BRL 355.0 million against BRL 293.5 million a year ago. Adjusted ROAA was 1.2% against 1.2% a year ago. Adjusted ROAE was 13.2% against 14.0% a year ago.
For the first half of 2016, the company reported net income of BRL 389.6 million against BRL 339.9 million a year ago. Adjusted net income was BRL 389.6 million against BRL 339.9 million a year ago. Other recurring operational income was BRL 190.4 million against BRL 197.8 million a year ago. Income from services and fees was BRL 828.0 million against BRL 676.0 million a year ago. Book value per share was BRL 15.76 against BRL 14.31 a year ago. Earnings per share were BRL 0.95 against BRL 0.83 a year ago. ROAA was 1.2% against 1.1% a year ago. ROAE was 12.7% against 12.1% a year ago. Net interest income was BRL 2,537.9 million against BRL 2,140.8 million a year ago. Operating income was BRL 667.4 million against BRL 481.4 million a year ago. Adjusted ROAA was 1.2% against 1.1% a year ago. Adjusted ROAE was 12.7% against 12.1% a year ago.
For the year 2016, the company expects recurring return on average shareholders' equity to be in between 11% to 15%.
Banco do Estado do Rio Grande do Sul SA (Banrisul) is a Brazil-based commercial bank that provides personal and corporate banking services. Banrisul offers a range of financial products and services, such as personal and real estate loans, debit and credit cards, securities brokerage, portfolio management, car and equipment leasing, investment services, international trade support, life and property insurances, among others.
Banco do Estado do Rio Grande do Sul Reports Consolidated Earnings Results for the Second Quarter and First Half of 2016; Provides Recurring Return on Average Shareholders' Equity Guidance for the Year 2016
BANCO DO ESTADO DO RIO GRANDE DO SUL S.A. 
