Banco Abc Brasil S.A. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 04, 2020 at 09:57 am
Share
Banco ABC Brasil S.A. Announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced net income was BRL 73.5 million compared to BRL 130.5 million a year ago. For the nine months, net income was BRL 216.1 million compared to BRL 382.8 million a year ago.
Banco ABC Brasil SA is a Brazil-based institution (the Bank) engaged in the banking sector. Its commercial activities focuses on managing loans and other credit operations, deposit services and checking accounts to large and medium-sized corporate and institutional customers. In addition, the Bank is responsible for promoting capital market operations and other banking services. The Bank's financial products and services portfolio includes foreign and local currency loans, various types of guarantees, international trade financing, derivative operations, investments financing, as well as mergers and acquisitions (M&A) advisory, among others. The Bank operates through a network of branches in Brazil and abroad through an overseas branch located in Cayman Islands. Its subsidiaries include ABC Brasil Administracao e Participacoes Ltda and ABC Brasil Distribuidora de Titulos e Valores Mobiliarios SA. The Bank is indirectly controlled by Arab Banking Corporation BSC.
BANCO ABC BRASIL S.A. 
