Banco Santander (Brasil) SA (BSBR) Q1 2022 Earnings Call Transcript

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning and thank you for waiting. Welcome to discuss Banco Santander Brasil SA's Result. Present here, Mr. Mario Leão, CEO; Mr. Angel Santodomingo, CFO; and Mr. Gustavo Sechin, Head of Investor Relations. All the participants will be on listened-only mode during the presentation. After which we will begin the question-and-answer session when further instructions will be provided. [Operator Instructions]

The live webcast of this call is available at Banco Santander's Investor Relations website at www.santander.com.br/ri, where the presentation is also available for download. We would like to inform that the questions received via webcast will have answering priority. [Operator Instructions] Each participant is entitled to ask one question. Before proceeding, we wish to clarify that forward-looking statements may be made during the conference call relating to business outlook of Banco Santander Brasil operating and financial projections and targets based on the beliefs and assumptions of the executive board, as well on information currently available. Such forward-looking statements are not a guarantee of performance.

They involve risks, uncertainties, and assumptions as they refer to future events and hence depend on circumstances that may or may not occur. Investors must be aware that general economic conditions, industry conditions, and other operational factors may affect the future performance of Banco Santander Brasil and may cause actual results to substantially different from those in the forward-looking statements.

I will now pass the word to Mr. Gustavo Sechin to introduce all the participants. Please, Mr. Sechin, you may proceed.

Gustavo Sechin

Thank you, operator. Good day everyone. Welcome and thank you again for joining us for our 1Q conference call this morning to discuss our company's results. So here with me, I have our CEO, Mr. Mario Leão; our CFO, Angel Santodomingo; and our Investor Relations team. So now I'm going to first turn the call over to our CEO for his comments. Please, Mario, you may proceed.

Mario Leão

Thank you, Gustavo. Thank you all for joining our first quarter results earnings call. It's a pleasure to be here for the first time as CEO of Banco Santander Brasil. I'll kick off with a very brief overview of the context we're in. Then I'll go over some of the strategic priorities I have outlined for Santander Brasil in this next growth cycle, upon which we are already all working on as a group. So starting with the context, we already noticed in the second half of 2021, the beginning of deterioration in the credit portfolios resulting from the worsening macro conditions, mainly inflation and interest rates.