Fintech PR
BTG Pactual achieves new performance records, with a net income of R$2.7 billion and total revenues of R$5.7 billion in 3Q23
Strong Net New Money (NNM) of R$59 Billion in the quarter, reaching R$1.5 trillion in AuA/WuM
ROAE of 23.2% and BIS ratio of 17.4%
- Adjusted net income grew 19% over the past 12 months, reaching R$2.7 billion in 3Q23.
- Total revenues grew 19% over the past 12 months, reaching R$5.7 billion in 3Q23, with record revenues in most business lines.
- Significant growth in client franchises:
- Investment Banking reported revenues of R$590.1 million, 12% above 3Q22, with record revenues in DCM.
- Wealth Management & Consumer Banking reported strong NNM of R$31.3 billion and record revenues for the 19th consecutive quarter, of R$791.7 million, up 21% compared to 3Q22.
- Asset Management reported NNM of R$28.0 billion and record revenues of R$467.4 million, 15% higher than 3Q22.
- Record revenue also in Corporate & SME Lending of R$1.32 billion, 41% above 3Q22. The credit portfolio reached R$160.6 billion, with R$17.7 billion in SME lending.
- Total AuM/WuM reached R$1.5 trillion, a 25% increase compared to 3Q22.
- Net new money of R$59.3 billion (NNM).
- WuM rose 31% compared to 3Q22, reaching R$665.8 billion.
- AuM/AuA increased 21% compared to 3Q22, reaching R$807.5 billion.
- Adjusted cost-to-income ratio of 38.2%, once again below the historical average.
- ROAE of 23.2%.
SÃO PAULO, Nov. 8, 2023 /PRNewswire/ — BTG Pactual (BPAC11) once again posted record results for a single quarter. Adjusted net income reached R$2.7 billion in 3Q23, while total revenues reached R$5.7 billion in the same period. Both results marked a 19% increase y/y (3Q22). ROAE totaled 23.2%, the highest level since 2015.
During the quarter, total third-party assets reached R$1.5 trillion (AuM/WuM), a 25% increase compared to 3Q22. BTG Pactual achieved NNM of R$59.3 billion, with R$31.3 billion in the Wealth Management and R$28.0 billion in Asset Management.
“In this quarter our client franchises continued growing significantly. We reached the mark of R$1.5 trillion in assets under management and administration (AuM/WuM), with strong net inflows throughout the year, even in the face of a challenging macroeconomic scenario. We are very proud to report another quarter of record results, a reflection of the quality of the services we provide to our clients and of our revenue diversification” said Roberto Sallouti, CEO of BTG Pactual.
Investment Banking reported revenue of R$590.1 million in 3Q23, a 93% increase over 2Q23 and 12% year-on-year, with record revenues in DCM. BTG maintained its leadership in all three segments (DCM, ECM, and M&A) in Brazil and Latin America.
Corporate & SME Lending posted record revenue of R$1.32 billion in 3Q23, up 41% y/y. Credit portfolio reached R$160.6 billion in the quarter, up 24% y/y, with R$17.7 billion (or 11% of the total) contribution from the SME portfolio. BTG Empresas was once again voted by Global Finance as the “Best bank for SMEs in the World”.
In Sales & Trading, BTG once again posted strong results, with revenues of R$1.45 billion, up 5% y/y. There was a significant contribution from client activities, with the average Value at Risk (VaR) decreasing significantly in the quarter to 0.33%.
In Asset Management, AuM/AuA were R$807.5 billion at the third quarter, a 21% increase compared to 3Q22, with NNM of R$28.0 billion. Asset Management reported revenue of R$467.4 million in 3Q23.
Wealth Management & Consumer Banking reported record revenues for the 19th consecutive quarter, of R$791.7 million, up 21% y/y. WuM was R$665.8 billion, a 31% increase y/y. The WM business continues to experience strong net inflows (NNM) of R$31.3 billion, confirming the quality of the distribution channels. This is another quarter of record revenue, with strong net inflows while maintaining the same levels of ROA.
The bank’s balance sheet ended the quarter even more robust, with a basel ratio of 17.4%, and the liquidity coverage ratio (LCR) of 196%.
Strategic Acquisition
In October, BTG Pactual announced the acquisition of Órama, one of Brazil’s leading investment platforms with R$18 billion in assets under custody. The deal is part of the bank’s strategy to expand its digital platforms, increase its customer base, and enhance the offering of products and services for retail clients.
Nine Months
BTG Pactual ended the first nine months of the year with strong revenue generation and operational leverage. Total revenue reached R$15.9 billion, up 17% y/y. Adjusted net income grew 16% in the period, reaching R$7.6 billion. Both results are historical records, with significant growth mainly in client franchises. Total assets/wealth under management (AuM/WuM) reached R$1.5 trillion, a 25% increase y/y. Net New Money (NNM) accumulated in nine months was of R$163.3 billion, and ROAE was of 22.4%.
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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