Banco Original reports profit in 2017 and consolidates its growth process

Banco Original, J&F Group’s financial institution, ended 2017 with a net profit of R$ 1.5 million and consolidated its expansion process with a 134% increase in the number of accounts opened. This result confirms the Bank’s consistent liquidity and risk management, the management team’s capacity and the solid business plan, which allowed for a positive end to a year full of economic uncertainties in Brazil.

 

Secure management led to improvements in several financial solidity indicators, especially the 162% increase in results obtained from financial intermediation and the reduction in defaults. Among the highlights of the 2017 balance sheet, released on March 6, 2018, the following stand out:

  • Increase of 134% in the number of accounts opened
  • 1.4 percentage points reduction of the default rate from 4.53% to 3.13%, below the market average of 4.93%
  • 162% growth in financial intermediation results
  • Basel Index of 16.3% (indicator of the capacity to grant credit, in Brazil the minimum required by the Central Bank is 10.5%)
  • Coverage ratio for non-performing loans of 120.8% (expresses the bank’s ability to cover its clients loans)
  • Shareholder equity remained stable at R$ 2.2 billion

Banco Original’s 100%-digital relationship platform was the main factor that led the bank to end 2017 with 542 thousand clients, compared to 232 thousand at the end of 2016. The bank’s main attractiveness is its agility to open accounts and the account’s user-friendly features, which consolidated it as the most aggressive in the Brazilian market.

Last year, Banco Original began measuring its brand health daily, taking into account mentions on social media. In December, the indicator showed 90% positive mentions, almost equal to that measured in January, indicating that the Banco Original brand is strong and recognized in the market after only two years operating in the retail segment.

For 2018, Banco Original plans to continue executing its strategic plan. The institution will continue to invest in new products and in its innovative open-banking platform to increasingly facilitate the way people relate to money.

You can have access to the complete balance sheet through the Bank’s website.