June 24, 2018 11:41 AM ET

Banks

Company Overview of Banco Sofisa S.A.

Company Overview

Banco Sofisa S.A., together with its subsidiaries, provides various banking products and services in Brazil. The company offers commercial, investment, credit, financing, exchange, and leasing products. It has branches in Campinas, Belo Horizonte, Rio de Janeiro, Curitiba, Goiânia, Porto Alegre, Fortaleza, Recife, Riberão Preto, Alphaville, Manaus, Sorocaba, and Londrina, Brazil. The company was formerly known as Sofisa S.A. Crédito, Financiamento e Investimentos. Banco Sofisa S.A. was founded in 1961 and is headquartered in São Paulo, Brazil.

Alameda Santos, 1.496

São Paulo, SP 

Brazil

Founded in 1961

Key Executives for Banco Sofisa S.A.

CEO & Director
Age: 48
Vice Chairman of the Board & CFO
Age: 56
Executive Board of Corporate Governance, Risks & IR and Member of Board of Executive Offices
Executive Officer and Member of Board of Executive Offices
Executive Officer and Member of Board of Executive Offices
Age: 60
Compensation as of Fiscal Year 2017.

Banco Sofisa S.A. Key Developments

Banco Sofisa S.A. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016

Banco Sofisa S.A. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported income from financial intermediation of BRL 188.02 million compared to BRL 155.29 million a year ago. Income from operation was BRL 54.00 million compared to BRL 23.60 million a year ago. Income before taxes and minority interest was BRL 52.91 million compared to BRL 23.83 million a year ago. Net income was BRL 49.15 million or BRL 0.36 per share compared to BRL 19.59 million or BRL 0.14 per share a year ago. Net cash generated from operating activities were BRL 14.73 million. Adjusted net income was BRL 53.1 million. ROAE was 26.4% against 11.4% a year ago. ROAA was 4.1% against 1.8% a year ago. For the year, the company reported income from financial intermediation of BRL 727.33 million compared to BRL 699.82 million a year ago. Income from operation was BRL 116.80 million compared to BRL 94.33 million a year ago. Income before taxes and minority interest was BRL 115.70 million compared to BRL 91.80 million a year ago. Net income was BRL 83.91 million compared to BRL 83.91 million a year ago. Net cash used in operating activities were BRL 29.85 million compared to BRL 73.55 million a year ago. Adjusted net income was BRL 125.93 million against BRL 111.8 million a year ago. ROAE was 10.5% against 12.3% a year ago. ROAA was 1.8% against 2.2% a year ago.

Banco Sofisa S.A. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016

Banco Sofisa S.A. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company’s income from financial intermediation was BRL 188,022,000 against BRL 155,286,000 a year ago. Gross profit from financial intermediation was BRL 84,307,000 against BRL 56,603,000 a year ago. Income from operations was BRL 54,001,000 against BRL 23,599,000 a year ago. Income before taxes and minority interest was BRL 52,914,000 against BRL 23,831,000 a year ago. Net income was BRL 49,151,000 against BRL 19,589,000 a year ago. Free cash was BRL 1,233.7 million against BRL 1,047.8 million last year. Net Income per share was BRL 0.36 against BRL 0.08 a year ago. ROAE was 26.4% against 11.4% last year. ROAA was 4.1% against 1.8% last year. Adjusted net income was BRL 53,067,000 against BRL 25,455,000 for the third quarter of 2015. Net cash generated from operating activities was BRL 14,733,000 against net cash used in operating activities of BRL 42,610,000 last year. For the year, the company’s income from financial intermediation was BRL 727,334,000 against BRL 699,822,000 a year ago. Gross profit from financial intermediation was BRL 247,020,000 against BRL 168,580,000 a year ago. Income from operations was BRL 116,799,000 against BRL 94,325,000 a year ago. Income before taxes and minority interest was BRL 115,697,000 against BRL 91,803,000 a year ago. Net income was BRL 75,815,000 against BRL 83,907,000 a year ago. ROAE was 10.5% against 12.3% last year. ROAA was 1.8% against 2.2% last year. Adjusted net income was BRL 125,927,000 against BRL 111,755,000 for the third quarter of 2015. Net cash used in operating activities was BRL 29,849,000 against BRL 73,550,000 last year.

Banco Sofisa S.A. Announces Earnings Results for the Third Quarter and Nine Months of 2016

Banco Sofisa S.A. announced earnings results for the third quarter and nine months of 2016. For the quarter, the company’s ROAE was 6.1% compared to 17.5% a year ago. ROAA was 0.9% compared to 1.7% a year ago. Net income was BRL 11.140 million or BRL 0.08 per share compared to BRL 29.9 million or BRL 0.22 per share a year ago. Income from operations was BRL 22,104,000 compared to BRL 24,293,000 a year ago. Income before taxes and minority interest was BRL 21,951,000 compared to BRL 23,817,000 a year ago. Adjusted net income was BRL 25,455,000. Net cash used in operating activities was BRL 42,610,000. For the nine months, the company’s ROAE was 5.0% compared to 12.6% a year ago. ROAA was 0.9% compared to 2.3% a year ago. Book value per share was BRL 5.37 compared to BRL 4.98 a year ago. Income from operations was BRL 62,798,000 compared to BRL 70,726,000 a year ago. Income before taxes and minority interest was BRL 62,783,000 compared to BRL 67,972,000 a year ago. Net income was BRL 26.664 million compared to BRL 26.664 million a year ago.

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