SÃO PAULO, May 13, 2024 /PRNewswire/ — BTG Pactual (BPAC11) once again reported record revenues in the first quarter of 2024, totaling R$ 5.9 billion, a 22.7% increase y-o-y. Adjusted net income also reached all-time-high of  R$ 2.9 billion, a 27.7% increase when compared to 1Q23. Adjusted return on equity (ROAE) reached 22.8% in the first quarter.

 “We have reported record revenues and net income in this first quarter, with robust net inflows despite a challenging macroeconomic environment, both domestically and internationally. The sustained growth of our client franchises and the diversification of our business model underscore our commitment to excellence in servicing  our clients, investors and partners ,” says Roberto Sallouti, CEO of BTG Pactual.

In the first quarter, BTG Pactual registered R$ 64 billion in Net New Money (NNM), with R$ 43.6 billion in Wealth Management and R$ 20,2 billion in Asset Management, including R$15.9 billion from the acquisition of Órama Investimentos, totaling R$ 1.64 trillion in assets (AuM/WuM) under management and administration.

Investment Banking maintained its leadership in key industry rankings and presented higher revenues in the first quarter, totaling R$ 654 million. The result is 41% higher than 4Q23 and 151% higher year-on-year, positively driven by record revenues in M&A and higher volumes in the debt market (DCM).

Corporate Lending and Business Banking reported record revenues of R$ 1.4 billion in 1Q24, a 20.5% increase y-o-r. The credit portfolio totaled R$ 181.6 billion in the quarter, a 26.7% increase compared to the first quarter of 2023, with increased market share both in large corporations and small and medium-sized enterprises, representing R$ 22.1 billion of the total portfolio.

Sales & Trading reported revenues of R$ 1.37 billion in the first three months of the year, with a strong contribution from client franchises. In a macroeconomic environment of increased uncertainty, both in the local and international markets, the bank maintained efficient risk allocation, with VaR of 0.36%, still below historical averages. From this quarter onwards, the Principal Investments area will be reported within Sales & Trading, due to the similar nature of the business and reduced relevance to total revenues. For reference, the Principal Investments line in 1Q24 had a contribution of R$ 13 million.

Asset Management reported another quarter of record revenues, with a 29.8% increase year-on-year and a 13% increase compared to 4Q23, totaling R$ 574 million. The total assets under management and administration (AuM and AuA) amounted to R$ 880 billion in the first quarter, a 22.7% increase over 1Q23.

Wealth Management and Personal Banking reported record revenues for the 21st consecutive quarter, totaling R$ 879 million, a 26.7% increase compared to 1Q23. Wealth under management (WuM) totaled R$ 756 billion, a 33% increase during the same period.

The Basel ratio closed the quarter at 16.4%, impacted by the repurchase of subordinated level 2 bonds in the amount of US$ 600 million. The liquidity coverage ratio (LCR) was 166.5%.

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WARSAW, Poland, May 13, 2024 /PRNewswire/ — CoinEx, a leading global cryptocurrency exchange, has announced that it has successfully secured authorization as a Virtual Assets Service Provider (VASP) in Poland. This milestone achievement is set to significantly enhance CoinEx’s position in the European cryptocurrency market.

The authorization by the regulatory authorities in Poland recognizes CoinEx’s compliance with the country’s stringent financial regulations, cementing its reputation as a trustworthy and law-abiding exchange.

This achievement marks a major step forward for CoinEx’s expansion strategy in Europe. We recognize the immense potential of the European cryptocurrency market and are committed to providing a reliable and user-friendly platform for investors and traders.

Haipo Yang, CoinEx’s CEO, expressed his enthusiasm, stating, “Obtaining the VASP registration in Poland is a testament to our unwavering dedication to providing a secure and regulated trading environment for our users. We are thrilled to expand our operations in Europe. This achievement reinforces our commitment to driving the global adoption of cryptocurrencies and fostering the growth of the digital asset ecosystem.”

In light of this significant development, CoinEx is excited to announce its participation in the upcoming Next Block Expo (NBX), scheduled to take place in Warsaw, Poland, from May 15th to 16th, 2024. The NBX conference serves as an ideal platform for CoinEx to engage with industry leaders, investors, and enthusiasts, further solidifying its presence in the European crypto space.

For more information about CoinEx and its participation in the Next Block Expo, please visit the official CoinEx website.

About CoinEx
Established in 2017, CoinEx is a global cryptocurrency exchange committed to making trading easier. The platform provides a range of services, including spot and margin trading, futures, swaps, automated market maker (AMM), and financial management services, for over 5 million users across more than 200 countries and regions.

With its “quality, speedy, and comprehensive” listing strategies, CoinEx has listed over 1,000 tokens and more than 1,400 trading pairs. This extensive selection empowers users to access the newest cryptos at the forefront of innovation. Since its establishment, CoinEx has steadfastly adhered to a “user-first” service principle. With the sincere intention of nurturing an equitable, respectful, and secure crypto trading environment, CoinEx enables individuals with varying levels of experience to effortlessly access the world of cryptocurrency by offering easy-to-use products.

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BUCHAREST, Romania, May 13, 2024 /PRNewswire/ — One United Properties (BVB: ONE), the leading green developer of residential, mixed-use and office real estate in Romania, posts a consolidated turnover of 84.3 million euros for Q1 2024, a 5% decrease compared to Q1 2023. The gross profit reached 37 million euros, a 2% year-over-year increase, while the net profit amounted to 31.6 million euros, a 3% growth compared to Q1 2023. 

“The first three months of 2024 were marked by solid financial performance for One United Properties. The results from Q1 2024 lay a solid foundation for the year and clearly align with our strategic goals and financial targets for 2024. We are particularly pleased with the significant construction progress across all our developments. This progress has helped better reflect the exceptional efforts of our sales team from the past 15 months, as visible in the net margin from residential sales, which reached 39% for Q1 2024. As we look ahead, our focus remains on maintaining the growth momentum. We are confident that the strategic blueprint we follow regarding product offering and business expansion will not only cater to our customers’ needs but also deliver substantial value to our shareholders,” said Victor Capitanu, co-CEO at One United Properties.

Revenues from the residential segment reached 61.6 million euros in Q1 2024, an 8% YoY decrease. However, the net income from residential property saw a 16% increase to 24 million euros. This growth was primarily driven by the revenue recognition from the new developments where construction was initiated in 2022 and 2023, where substantial construction progress was seen, paired with continued strong sales and pre-sales of residential units. Consequently, the net margin increased significantly from 30.8%, as recorded for Q1 2023, to 39% for Q1 2024.

The rental income, which includes the income generated by the commercial division and the revenues from the tenant services, saw a 21% YoY increase, reaching 7.7 million euros in Q1 2024. The increase has been driven by the revenues coming from the entire portfolio, but particularly from One Cotroceni Park, where the tenants continued to move in during 2023.

One United Properties ended Q1 2024 with a strong cash position of 68.3 million euros, down by 19% since the beginning of the year due to the payment of the first tranche of the 2023 dividend of 7.6 million euros and paired with significant development activity. The gross development value of the buildings under construction amounted to more than 1.2 billion euros in Q1 2024.

“The financial results for Q1 2024 underscore the resilience and adaptability of One United Properties business model and the long-term value we build for our stakeholders. Our strong profit figures reflect our strategic approach to navigating market fluctuations and capitalizing on growth opportunities. The exceptional continued demand for our properties, especially at One Lake District and One Lake Club, as well as significant increases in revenues for our commercial segment, demonstrate our effective market positioning and commitment to quality. Our goal for the remainder of the year is to continue leveraging our industry-leading practices in sustainable development to further strengthen our market leadership and enhance shareholder returns,” said Andrei Diaconescu, co-CEO at One United Properties.

The gross loan-to-value ratio of One United Properties was stable at 29% at the end of Q1 2024, unchanged since the end of 2022, demonstrating strong financial health and low leverage compared to European peers. Net debt stood at 155.9 million euros, representing 15% of the total assets, which overpassed 1 billion euros.

For 2024, One United Properties budgeted a turnover of 349.9 million euros and a gross profit of 123.5 million euros.

ONE UNITED PROPERTIES (BVB: ONE) is the leading green investor and developer of residential, mixed-use, and commercial real estate in Bucharest, Romania. One United Properties is an innovative company dedicated to accelerating the adoption of construction practices for safe, energy-efficient, sustainable, and healthy buildings, and has received numerous awards and recognitions for its superior sustainability, energy efficiency, and wellness. The company is publicly traded on the Bucharest Stock Exchange, and its shares are included in multiple indices such as BET, STOXX, MSCI, FTSE, ROTX and CEEplus.

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