Advertisement
Canada markets closed
  • S&P/TSX

    21,639.10
    -59.00 (-0.27%)
     
  • S&P 500

    5,431.60
    -2.14 (-0.04%)
     
  • DOW

    38,589.16
    -57.94 (-0.15%)
     
  • CAD/USD

    0.7282
    -0.0002 (-0.02%)
     
  • CRUDE OIL

    78.37
    -0.08 (-0.10%)
     
  • Bitcoin CAD

    91,499.57
    +547.12 (+0.60%)
     
  • CMC Crypto 200

    1,388.09
    -29.78 (-2.10%)
     
  • GOLD FUTURES

    2,343.40
    -5.70 (-0.24%)
     
  • RUSSELL 2000

    2,006.16
    -32.75 (-1.61%)
     
  • 10-Yr Bond

    4.2130
    -0.0250 (-0.59%)
     
  • NASDAQ futures

    19,711.75
    +26.25 (+0.13%)
     
  • VOLATILITY

    12.66
    +0.72 (+6.03%)
     
  • FTSE

    8,146.86
    -16.81 (-0.21%)
     
  • NIKKEI 225

    38,814.56
    +94.06 (+0.24%)
     
  • CAD/EUR

    0.6799
    +0.0001 (+0.01%)
     

UPDATE 1-Brazil's BTG Pactual Q1 adjusted net income jumps 28% y/y

(Rewrite throughout)

May 13 (Reuters) - Banco BTG Pactual, Latin America's biggest investment bank, on Monday reported record adjusted net income and revenue for the first quarter despite challenging macroeconomic conditions.

The bank said adjusted net income rose 28% to a record 2.89 billion reais ($560.31 million). Its revenue grew around 23% to a high of 5.89 billion reais ($1.14 billion) as it continued to gain market share in both its asset management and wealth management businesses.

BTG Pactual also registered a streak of 21 consecutive quarters of revenue growth in its Wealth Management & Personal Banking division, attributed to the acquisition of Órama, which was approved by regulators in March.

ADVERTISEMENT

The company said the acquisition had helped to enlarge its distribution channel and its market share in the retail segment.

In a statement last month, BTG Pactual announced a $500 million foreign bond issue through its subsidiary in the Cayman Islands. The bond, with a maturity of five years, carries a fixed annual interest rate of 6.25%. ($1 = 5.1579 reais) (Reporting by Natalia Siniawski, Editing by Louise Heavens and Sharon Singleton)