Banco BV recorded recurring net profit of R$481 million in the first quarter of the year, practically stable (+0.2%) compared to the same period last year, according to the balance sheet released this Tuesday, which showed an increase in the cost of credit and a slight decline in profitability on an annual basis.
The expanded credit portfolio totaled R$102.1 billion, an increase of 13% year on year and 4.6% on a quarterly basis, while the cost of credit increased 48.9% and 25.2% in the same comparisons, to almost R$1.3 billion.
The default rate over 90 days was 4.7%, up from 4.3% a year earlier. In the fourth quarter of 2025, it was also 4.7%, with the bank citing an impact on the wholesale segment due to a specific case, which was already partially provisioned.
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In vehicle financing, the bank achieved a new record in origination, which totaled R$8.5 billion, growth of 42.9% on an annual basis and 5.1% in the quarter.
The return on equity (ROAE) of BV, which has the Votorantim group and Banco do Brasil as partners, was 15.5%, up from 16% a year earlier. On a quarterly basis, the result represented an increase of 0.4 percentage points.
The institution’s total revenues grew 4.4% year on year, but shrank 1% compared to the previous quarter, to R$3.1 billion. The gross financial margin totaled almost R$2.4 billion, an increase of 0.4% in the year and 2.7% on a quarterly basis.
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BV ended the first quarter with a Basel index of 15%, with the main capital ratio at 11.2%.
