Operational revenues grew 48% versus 4Q19 and 31% over 2019
- R$46bn NNM in the quarter and R$127bn in the year for AM and WM
- 38% growth y-o-y in AuM/AuA, reaching R$377bn in the end of 2020
- 54% growth in WM for the year, reaching R$258bn at 4Q20
- Record revenues for Investment Banking for a quarter with R$515mn, and up 40% y-o-y;
- Corporate and SME Lending portfolio grew 68% y-o-y with high quality assets, reaching R$74bn in 2020;
- Unsecured funding base doubled when compared to 2019, and posted record level of R$107 billion at the end of 4Q20
- Strong capital and liquidity metrics, above industry peers:
Liquidity Coverage Ratio (LCR) of 273%
BIS capital ratio of 16.7%
SÃO PAULO, Feb. 9, 2021 /PRNewswire/ -- BTG Pactual (B3: BPAC11) reported Q4 net revenues of R$2.83bn, up 13.6% y/y, and adjusted net income of R$1.26bn. 2020 net revenues were R$9.30bn, up 11.6% compared to 2019, and adjusted net income was R$4.05bn in 2020. The Bank posted record Q4 and 2020 revenues in several business units.
Commenting on the situation in general, BTG Pactual CEO Roberto Sallouti said
"2020 presented us with a challenging environment, but despite the unprecedented crisis we had an exceptional growth in all our business units, we remained close to our clients and kept providing them with an excellent service and relationship, we supported them in the form of credit and advisory services, all that with 85% of staff working from home most of the time. Still, we had exceptional growth across our platform and throughout the year, in volume of clients and transactions, strong capital and liquidity metrics and one of the most solid balance sheets in the industry. Besides that, we are very proud of our ESG agenda throughout the year, and reaffirm our commitment with society and coworkers".
In the Asset Management, our assets under management (AuM and AuA) on 31 December 2020 were R$377.1bn, up 38.1% y/y. In Wealth Management, WuM (Wealth under Management) totaled R$258.4bn, up 53,8% compared to 2019. Wealth Management revenues grew 51.5% y/y in the quarter, a record result for a single quarter, at R$247.2mn.
Our Investment Banking division posted another record revenues for the quarter, growing 68.1% compared to 4Q19, reaching to R$514.7mn. For the full year, revenues were up 40% compared to 2019, reaching R$1.33bn - the best performance since our IPO, despite a volatile scenario and some months of very weak market activities due to the Covid-19 pandemic.
In 4Q20, Sales & Trading had solid contribution in the quarter, up 10.9% compared to 4Q19 to R$751.6mn, with great contributions from all business lines.
Record revenues since our IPO for Corporate & Lending as well, reaching R$596.5mn, up 160.2% y/y, with a portfolio of R$73.7bn - while it preserved its asset quality, with high grade counterparties and posting strong growth in SME Portfolio
BIS capital ratio of 16.7% for the 4Q 2020 and a liquidity coverage ratio (LCR) of 273%;
In September 2020, BTG Pactual launched BTG+ for its clients, and then for the general public in January 2021, with a full range of products and the best user experience in the segment.
Finally, as part of its growth strategy in the upper retail segment, BTG Pactual achieved several milestones throughout the year, including the acquisition of 100% of Necton brokerage and the partnership with EQI Investimentos, an independent financial advisor (IFA).
About BTG Pactual
BTG Pactual (BPAC11) is the biggest investment bank from Latin America, operating in Investment Banking, Corporate Lending, Sales & Trading, Wealth Management and Asset Management. Since inception, in 1983, the Bank has been run based on a meritocratic partnership culture, focused on clients, excellence and a long-term vision. We have cemented our status as one of the most innovative sector players and have won numerous national and international awards. We currently have almost 3,000 employees in offices across Brazil, as well as in Chile, Argentina, Colombia, Peru, Mexico, the US, Portugal and England. For more information go to http://www.btgpactual.com
