Banco Abc Brasil S.A. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 07, 2020 at 07:45 am EDT
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Banco ABC Brasil S.A. Announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced net income was BRL 61.6 million compared to BRL 132.7 million a year ago. For the half year, net income was BRL 142.6 million compared to BRL 252.3 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. 
