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The Chile-based company, which leapfrogged U.S. majors American Airlines (AAL.O) and United Airlines (UAL.O), transported more than 260,000 passengers between the countries in the period. Average load factor in those flights, LATAM told Reuters, reached 89%. The results, according to ANAC, secured LATAM a 26% market share for flights between the two most populous countries in the Americas in the August-October period, above American Airlines' 22% and United Airlines' 20%. Year to date, American Airlines still leads the ranking with a 23.7% market share, slightly above LATAM's 22.4%, considering the number of passengers transported. In 2023 the U.S. carrier has so far ranked fifth in U.S.-Brazil traffic, also lagging behind Azul (AZUL.N).

Persons: Henry Romero, ANAC, LATAM, Aline Mafra, Gabriel Araujo, Steven Grattan, Marguerita Choy Organizations: Benito Juarez International, Federal Aviation Administration, FAA, REUTERS, SAO PAULO, LATAM Airlines, American Airlines, United Airlines, Reuters, Delta, Brasil, Sao Paulo, U.S ., Boston, U.S, Azul, Thomson Locations: U.S, Mexico City, Mexico, Brazil, Los Angeles, Chile, Argentina, Portugal, LATAM, Americas, Sao, Brazil's, U.S . West Coast, Miami, Orlando, New York, Rio de Janeiro, Atlanta

☆ Banco do Brasil's quarterly profit edges up on interest income
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

Banco do Brasil's adjusted net income reached 8.79 billion reais ($1.79 billion) during the period, while analysts polled by Refinitiv expected 8.98 billion reais. Loan-loss provisions were at 7.52 billion reais in the period, up 4.7% from the previous quarter and 66.4% higher than a year earlier. Part of that growth was caused by the reclassification of debt from struggling retailer Americanas (AMER3.SA), Banco do Brasil said. The bank's 90-day loan default ratio grew 0.8 percentage points compared to the previous quarter to 2.81%, still well below the delinquency level of its listed peers. The company's interest income rose 21.1% from a year earlier to 23.68 billion reais, while analysts expected 23.28 billion reais.

Persons: Leonardo Benassato, Peter Frontini, Anthony Esposito, Sandra Maler Organizations: Banco, REUTERS, SAO PAULO, Brasil SA, Americanas, Brasil, Thomson Locations: Brasil, Uberaba, Minas Gerais, Brazil

☆ Brazil police accuse agency bosses of misconduct in Amazon murder case
▼ + stars: | 2023-05-20 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, May 19 (Reuters) - Brazil's federal police recommended misconduct charges be filed on Friday against two ex-officials of Indigenous agency Funai in the case of a journalist and a native expert murdered last June in the Amazon rainforest. The police said the two former officials failed to act on information ahead of the murders of British reporter Dom Phillips and Indigenous expert Bruno Pereira. Reuters was not immediately able to locate the two former Funai officials, or their lawyers, to request comment. The valley is a remote jungle area on the Peruvian border with Brazil that is home to the world's largest number of isolated Indigenous communities, as well as cocaine-smuggling gangs and illegal hunting and fishing rackets. Reporting by Maria Carolina Marcello; Writing by Carolina Pulice; Editing by David Alire Garcia and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

☆ Strong loan book powers Banco do Brasil to quarterly profit surge
▼ + stars: | 2023-05-15 | by ( Peter Frontini | ) www.reuters.com time to read: +2 min

Banco do Brasil's adjusted net income reached 8.55 billion reais ($1.71 billion) during the first three months of this year, while analysts polled by Refinitiv expected 8.69 billion reais. Its loan book reached 1.03 trillion reais, growing 16.8% year-on-year and 2.7% from the previous quarter, boosted by an expansion in agribusiness-related lending. During the quarter, Banco do Brasil reported 5.85 billion reais set aside for bad loans, more than doubling the figure reported a year ago, but down 10.4% from the previous three months. "Asset quality trends remain resilient, with non-performing loans formation under control and below peers," Citi analysts wrote. The company's interest income, a measure of earnings on loans minus deposit cost, rose 38% from a year earlier, to 21.16 billion reais.

☆ Banco do Brasil's profit jumps nearly 30% in first quarter
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

Banco do Brasil's adjusted net income reached 8.55 billion reais ($1.71 billion) during the first three months of this year, while analysts polled by Refinitiv expected 8.69 billion reais. Its loan book reached 1.03 trillion reais, growing 16.8% year-on-year and 2.7% from the previous quarter, helped by a greater expansion in agribusiness-related lending. During the quarter, Banco do Brasil reported 5.85 billion reais set aside for bad loans, more than doubling the figure reported a year ago, but 10.4% down from the previous three months. Fee income grew 8.1% to 8.13 billion reais, while its return on equity, which measures profitability, landed at 20.8%, 2.9 percentage points above the previous year. The company's interest income, a measure of earnings on loans minus deposit cost, rose 38% from a year earlier, to 21.16 billion reais.

☆ Carrefour Brasil swings to quarterly loss as BIG purchase weighs
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, May 2(Reuters) - Carrefour Brasil (CRFB3.SA) reported a first quarter net loss of 113 million reais ($22.39 million), hit by high investment costs at its acquired food retailer Grupo BIG, the company said in a filing with Brazil's main stock exchange on Tuesday. The company posted a net profit of 370 million reais in the same January-to-March period last year. Carrefour's Brazilian unit said operating expenses soared 52% from a year earlier to total 3.8 billion reais, fueled by store conversion and the integration of BIG. The Carrefour subsidiary bought BIG in mid-2022 and announced last month a discount of up to 1 billion reais in the initial amount paid of 7.5 billion reais. Carrefour Brasil said it has opened three new wholesale format stores and 23 converted stores in the first quarter.

LISBON, April 23 (Reuters) - Government officials from Brazil are using their president's first visit to Europe since being elected to raise awareness and fight against the racial discrimination faced by the Brazilian community in Portugal and elsewhere. Brazil's minister of racial equality, Anielle Franco, was one of the officials who travelled with President Luiz Inacio Lula da Silva. When elected, Lula said he aimed to attack racism and Brazil's legacy of slavery. Europe's top human rights group previously said Portugal had to confront its colonial past and role in the transatlantic slave trade to help fight racism and discrimination in the country today. Franco met Portuguese parliament affairs minister Ana Catarina Mendes on Saturday to discuss policies to tackle racial injustice.

☆ Brazil's Santander to sell 40% of WebMotors to Carsales.com for $240 mln
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, March 7 (Reuters) - Brazilian lender Santander Brasil SA said on Tuesday it will sell 40% of car-selling platform WebMotors to Australia's Carsales.com (CAR.AX) for 1.24 billion reais ($238.87 million). Carsales will hold 70% of WebMotors after the deal is concluded, while Santander will own the remaining 30%. The lender will continue as a partner of the platform in providing credit, insurance and other financial solutions to its users. The deal will be accompanied by a capital increase of A$500 million ($329 million) in Carsales, Santander said. ($1 = 5.1910 reais)($1 = 1.5188 Australian dollars)Reporting by Fabricio de Castro; Writing by Peter Frontini; Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

☆ Santander Brasil's Q4 net profit slumps as loan-loss provisions bite
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Feb 2 (Reuters) - Banco Santander Brasil SA (SANB3.SA) on Thursday posted a slump in fourth-quarter net profit as loan-loss provisions rose against a backdrop of higher interest rates and deteriorating credit conditions. The bank's quarterly net profit reached 1.69 billion reais ($334.3 million), down 56% from the previous year, as provisions for bad credit nearly doubled amid higher interest rates. He said net interest income came under pressure from changes in the product mix and higher interest rates, a trend set to persist throughout this year. Santander Brasil's loan-loss provisions reached 7.36 billion reais, pressured by bad credit in loans to individuals, the bank said. In the full year of 2022, its net profit dropped 21.1% from the previous year to 12.9 billion reais, while full-year provisions rose 72.7% and net interest income fell 6.8%.

☆ Brazilian lender Santander's Chairman Rial resigns
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Jan 20 (Reuters) - Brazilian lender Santander Brasil SA said on Friday its chairman and former chief executive, Sergio Rial, is resigning from his position at the firm. The resignation comes just days after Rial quit his short-lived job as chief executive of retailer Americanas SA after finding accounting "inconsistencies" that led the company to file for bankruptcy protection. Rial was Santander Brasil's CEO for six years, as well as the bank's regional head for South America, before transitioning to board chairman in early 2022. He is also chairman of the board at fuel distributor Vibra Energia SA (VBBR3.SA), vice chair at BRF SA (BRFS3.SA) and a board member at Delta Air Lines (DAL.N). Rial will be replaced on an interim basis by his vice chair, Deborah Stern Vieitas, until the bank's next general meeting on April 28.

Americanas on Tuesday disclosed that it did not pay interest due on Monday of more than 2 billion reais ($392 million) in local bonds. It made the disclosure in a filing responding to a question by securities regulator CVM, saying that it was allowed not to pay under the injunction. Fitch said that if Americanas formally announces a debt restructuring plan, its ratings will be downgraded to RD or D reflecting a default. Fitch said the retailer, backed by the billionaire founders of 3G Capital, has an unsustainable capital structure with the addition of an estimated 20 billion reais in previously undisclosed liabilities. The company last year paid 516.6 million reais in dividends related to the results in 2021, according to securities filings.

SAO PAULO, Jan 16 (Reuters) - Brazilian lenders BTG Pactual, Bradesco and Santander Brasil are among those most exposed to debt of Americanas SA (AMER3.SA), analysts' estimates showed on Monday, after the retailer obtained an injunction protecting it from creditors. Analysts at JPMorgan and Citi said in research notes that Banco Bradesco SA (BBDC4.SA) had the largest nominal exposure to the firm, while Banco BTG Pactual SA topped exposure as a proportion of loans. Considering JPMorgan's and Citi's estimates, BTG had a 1.9 billion-real exposure to Americanas, which was seen accounting for roughly 1.5% of its loans, while Bradesco had exposure of 4.7 billion reais, or 0.5% of loans. Banco Santander Brasil SA , the local unit of Spain's Banco Santander (SAN.MC), had 3.7 billion reais in exposure, or about 0.6% of loans. Sergio Rial, the outgoing Americanas chief executive who uncovered the accounting inconsistencies, is a former head of Santander Brasil, where he still serves as chairman of the board.

☆ Next Petrobras CEO says he will change company's fuel price policy
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Dec 30 (Reuters) - The incoming chief executive of Brazil's state-run oil company Petrobras (PETR4.SA) said on Friday he planned to tweak the country's fuel price policy, but said investors need not worry. Prates told journalists he will change the firm's pricing policy, which pegs fuel to global oil prices, but stressed that this does not mean prices will be completely unlinked to the international market. "Petrobras' pricing policy will be changed, but not necessarily to traumatize investors," he said. The company's pricing policy was at the center of turmoil during President Jair Bolsonaro's administration. Three of Petrobras' CEOs were ousted during his term, as fuel price hikes stoked inflation and hurt his popularity.

☆ Brazil's Oi exits bankruptcy protection after more than 6 years; shares jump
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Dec 15 (Reuters) - Shares in Brazilian telecom firm Oi SA (OIBR4.SA) soared on Thursday after it revealed it was exiting bankruptcy protection, marking the closure of a restructuring process that lasted more than six years. Oi filed in June 2016 for Brazil's then-biggest ever bankruptcy protection after running out of time to reorganize operations and restructure a multibillion-dollar debt amid a harsh recession in Latin America's largest economy. After the announcement, common shares in Oi jumped as much as 53% to 0.26 real in morning trading. Analysts at Genial Investimentos said the move was positive for the firm, even though they still thought Oi was financially weakened. Guide Investimentos echoed the concern and noted that despite being postponed several times, the end of the bankruptcy protection was already expected.

☆ Petrobras shares dive on Brazil vote to ease rules on politicians running state firms
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Dec 14 (Reuters) - Brazil's lower house of Congress voted late on Tuesday to make it easier for politicians to take roles at state-run firms, hammering shares of the state-run oil company, devastated by a political graft scandal over the past decade. Shares in state-run oil company Petroleo Brasileiro SA (PETR4.SA) (Petrobras) closed 10% lower on Wednesday. Analysts at BTG Pactual said the revised law would be bad for governance at state-owned firms as it eliminates one of their main mechanisms of defense from political influence. Incoming Finance Minister Fernando Haddad did his best to downplay the looser controls on politicians running state firms, saying the most important way to fight corruption is with strong, independent auditors. Reporting by Eduardo Simoes, Carolina Pulice and Marcela Ayres; Writing by Steven Grattan and Gabriel Araujo; Editing by Brad Haynes, Mark Potter and Lincoln Feast.

☆ California Looks to Ban Diesel Trucks at Ports by 2035
▼ + stars: | 2022-11-20 | by ( Paul Berger | ) www.wsj.com time to read: +6 min

An ambitious California plan to require trucking fleets in the state to switch from diesel to electric power faces a potential backup at charging stations. Requiring that dealers and truckers make the switch should give companies confidence to invest in charging stations, Mr. Brasil said. The trucks tend to cost two or three times as much as diesel trucks, which retail for about $150,000. State officials say they have funded 200 charging stations for medium- and heavy-duty trucks so far and that many more are being funded by private companies. Write to Paul Berger at paul.berger@wsj.comCorrections & AmplificationsThe Port of Los Angeles expects to install a small number of charging stations for electric trucks.

☆ Bigger loans help Brazil bank Itau's earnings outclass peers
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

Latin America's largest bank reported a third-quarter recurring net income of 8.08 billion reais ($1.51 billion), landing just below the 8.11 billion reais estimate of analysts polled by Refinitiv. Itau hiked its provisions for bad loans by nearly 50% to 8.27 billion reais, though unlike its peers, it did not raise its 2022 forecast for loan-loss provisions. The size of its loan book surged 15.5% year-on-year to reach 1.11 trillion reais, fueled by more personal loans. The company also reported higher income from interest it earned on customer debt. Its customer net interest income (NII) jumped 33% from a year earlier to reach 23.38 billion reais.

☆ Brazilian lender Itau's higher profits slightly miss forecasts on bad loan provisions
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Nov 10 (Reuters) - Brazilian lender Itau Unibanco SA (ITUB4.SA) on Thursday posted a 19% jump in recurring net profit, which nevertheless landed slightly below expectations as it raised provisions for bad loans amid soaring interest rates. Latin America's largest bank reported a third-quarter recurring net income of 8.08 billion reais ($1.51 billion). Analysts polled by Refinitiv had expected profit of 8.11 billion reais. Net interest income (NII) from its customers jumped 33% from a year earlier to reach 23.38 billion reais. Itau reported a 90-day default ratio of 2.8% at the end of September, rising above the previous quarter's 2.7% albeit at a much slower pace than its peers.

☆ Banco do Brasil hikes 2022 outlook as surging profit tops forecasts
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Nov 9 (Reuters) - Brazilian state lender Banco do Brasil SA (BBAS3.SA) on Wednesday hiked its full-year profit outlook on the back of bigger-than-expected quarterly earnings, helped by higher interest income on a bigger loan book. Banco do Brasil now expects its 2022 profit to reach between 30.5 billion and 32.5 billion reais ($5.9-$6.3 billion), up from a previous range of 27 billion to 30 billion reais. Over the third quarter, its loan book grew 19% for the same period last year to 969.2 billion reais. The lender's quarterly adjusted net income meanwhile surged 63% from a year earlier, reaching 8.36 billion reais and surpassing the 7.36 billion estimate of analysts polled by Refinitiv. Banco do Brasil set aside 4.52 billion reais in provisions for possible loan defaults, up 15.1% from a year earlier.

[1/2] Brazil's former President and presidential candidate Luiz Inacio Lula da Silva and Sao Paulo Governor candidate Fernando Haddad react at an election night gathering on the day of the Brazilian presidential election run-off, in Sao Paulo, Brazil, October 30, 2022. Defeated President Jair Bolsonaro had not made public remarks more than 17 hours after the race was called. Some of his key allies have recognized publicly that Lula had won the race, easing concerns of contested election results. "There will be no transition problem, even if Bolsonaro reacts badly, most of his allies have already recognized Lula's victory". Francisco Levy, chief strategist at Empiricus Investimentos, said a favorable international reaction to Lula may help markets on the short term.

☆ JPMorgan-backed digital bank C6 to open Brazil branch network
▼ + stars: | 2022-10-19 | by ( Aluisio Alves | ) www.reuters.com time to read: +2 min

SÃO PAULO, Oct 19 (Reuters) - Brazilian lender C6 Bank is set to open its first five brick-and-mortar branches in the country in the next few weeks, an executive has revealed, enhancing the competition between the JPMorgan-backed digital bank and large retail lenders for high income clients in Latin America's largest economy. Similar units in Brazilian large cap lenders include Banco Bradesco SA's Prime (BBDC4.SA) and Banco Santander Brasil SA's Van Gogh . With the physical branches initiative, C6 aims to increase its share in the high income market, which it expects to cover some 5 million people in the country. In 2021, the purchase of a 40% stake in C6 marked JPMorgan Chase & Co's (JPM.N) debut in Brazil's retail banking. C6 was founded by former partners at Banco BTG Pactual SA , Latin America's largest independent investment bank.

☆ With fresh firepower, brutal bank thieves blitz small-town Brazil
▼ + stars: | 2022-09-21 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +6 min

Using assault rifles and explosives to turn rural towns into war zones, the specialized crews have netted an astonishing $120 million since emerging in 2015, think tank Alpha Bravo Brasil says. In a related article, Reuters tracked how laws pushed by President Jair Bolsonaro make it easier for gangsters to obtain assault rifles like those used in Uberaba. WAR ZONEAbout a week before the raid, the robbers rented an apartment near the bank to surveil their target. The thieves told them to run into the bank - no funny business or they would be shot - where they cowered as their captors worked to blow up the safe. Outside, 10 of the robbers stood with assault rifles in each hand.

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