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Banco BTG Pactual (BPAC11) investor relations material
Banco BTG Pactual Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary12 Aug, 2025
Executive summary
Achieved record revenues of R$8.3bn and net income of R$4.2bn in 2Q25, with ROE/ROAE at 27.1%, driven by strong performances in investment banking, corporate lending, sales and trading, and wealth management.
Continued expansion in Latin America, including the announced acquisition of HSBC Uruguay, and initial revenue contributions from wealth management operations in Europe and the US.
Net new money inflows reached R$59bn, with AuM/WuM totaling R$2.1tn, up 25% year-over-year.
Operational leverage and digital platform investments contributed to significant growth and efficiency improvements.
Credit and SME portfolios grew 22% and 22.4% year-over-year, respectively, with the credit portfolio at R$238bn.
Financial highlights
Total revenue grew 38% year-over-year to R$8.3bn; net income rose 42% year-over-year to R$4.2bn.
Net income per unit was R$1.10; cost-income ratio improved to 35.6% for the quarter.
Shareholder equity increased 20% year-over-year to R$63.7bn; Basel ratio rose to 16.2%.
Unsecured funding base grew 19% year-over-year to R$280bn; liquidity coverage ratio at 170.1%.
For the first half, revenues reached R$15.1bn and net income R$7.5bn, with ROE at 25.1%.
Outlook and guidance
Management expects to deliver ROE of 24% or above for the full year, maintaining conservative guidance despite strong current performance.
Operating leverage and cost-to-income improvements are expected to continue, supported by past investments.
Focus remains on cross-selling, disciplined execution, and franchise consolidation to drive growth.
Ongoing expansion in Latin America and leadership in sustainable finance are strategic priorities.
Guidance for sales and trading remains based on the last four quarters' moving average.
What drives ROE beyond 24% guidance?
Are special situations gains recurring in CL?
BTG's strategy for SME credit growth?
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Next Banco BTG Pactual earnings date
Q3 202511 Nov, 2025
Next Banco BTG Pactual earnings date
Q3 202511 Nov, 2025
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Frequently asked questions
Banco BTG Pactual S.A. (BPAC11) is a financial services firm based in Rio de Janeiro, Brazil. The company provides a range of services including wealth management, investment banking, corporate loans, brokerage, and other financial solutions. Its offerings encompass capital markets services, credit and loan guarantees, clearing and derivatives, equities, financial planning and advisory, investment products, foreign exchange, and energy and commodities transactions. Additionally, BTG Pactual offers services such as succession planning, pension plans, corporate consulting, family office services, investment and hedge funds, fiduciary administration, and project financing.
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