Banco Santander (Brasil) S.A. (NYSE:BSBR) Q3 2024 Earnings Conference Call October 29, 2024 9:00 AM ET
Company Participants
Camila Toledo - Head of Investor Relations & Market Intelligence
Mario Leão - Chief Executive Officer
Gustavo Alejo Viviani - Chief Financial Officer & Investor Relations Officer
Conference Call Participants
Matheus Guimarães - XP Investment
Yuri Fernandes - JPMorgan
Daniel Vaz - Safra
Mario Pierry - Bank of America
Pedro Leduc - Itaú BBA
Thiago Batista - UBS
Brian Flores - Citibank
Eduardo Rosman - BTG Pactual
Tito Labarta - Goldman Sachs
Camila Toledo
Good morning, everyone and thank you so much for joining us for our Third Quarter 2024 Results Conference Call. We are here live from our headquarters in São Paulo and we will be dividing this event into three parts.
First our CEO, Mario Leão will talk about the main highlights of the period and also the directions for our growth in the coming quarters. Next our CFO, Gustavo Alejo, will give us a very detailed analysis of our performance. And finally, we will have the Q&A session. I will now give you some instructions. We have three audio options on the screen, all the content in Portuguese, all the content in English or the original audio.
To pick an option, just click on the button at the bottom center of your screen. To ask questions, just click on the hand icon also at the bottom of your screen. The presentation that we are about to give is now available for download in our IR website.
And now, I hand over the floor to Mario to start the presentation.
Mario Leão
Good morning. Good morning, everyone. It's always a pleasure to be here with you. It's almost 10:05 now. I will start with a summary of the quarter, the numbers, the main highlights and then I will quickly go over some of the aspects that brought us this far today and all of the strategic progress of the bank.
Starting with the numbers on the left-hand side, we have our quarterly net profit of BRL3.7 billion, which again is a two-digit growth quarter-on-quarter. It was 10% quarter-on-quarter of BRL3 billion from the first to the second quarter and now we are posting another two-digit growth and this is a very important growth also when we look at the annual basis.
So more important than the number itself, I would say that we are happy to say that we are advancing towards profitability. Gustavo and I have been talking a lot about rentability. So we are managing to have an operation that grows fast in terms of profitability and we are going back to our historical numbers with a much more sustainable and diversified mix.