BNDES reports profit of R$13.3 billion in the first half of 2025

The Brazilian Development Bank ( BNDES ) reported a profit of R$13.3 billion in the first half of this year. This is similar to the first half of 2024. Credit injections into the economy increased 56% compared to the same period last year, reaching R$129.6 billion in the first half of 2025.

The results were released by BNDES this Thursday, the 21st. The data also show an increase of R$204.2 billion in the bank's total assets under the current administration since the beginning of 2023, reaching R$888 billion, a 30% increase compared to 2022. There was also an increase over the first half of the year, of 5.6%. At the end of 2024, the bank's assets totaled R$840.9 billion.

Regarding delinquency, that is, 90 days or more late in payments, the rate recorded in the second quarter was 0.03%, which, according to the bank, remains "significantly lower" than the National Financial System's general rate of 3.55% and the rate for large companies in June 2025 of 0.43%. The rate in the second quarter of this year, however, is higher than the first quarter's rate of 0.001%.

BNDES President Aloizio Mercadante highlighted that the bank currently has the second best results in the financial system.

"I want to highlight this so that the Brazilian state's institutions of excellence are preserved. They contribute to the country's growth, employment, innovation, decarbonization, reindustrialization, and the fight against the climate crisis. This is an essential role and even leverages the private sector and the capital markets," the president emphasized.

BNDES is a federal public bank, focused on long-term financing and investment in all segments of the Brazilian economy.

Credit by sector

The largest growth in credit approvals was for industry, reaching 18.1 billion reais, an increase of 24% over 2024 and 220% over 2022, and for agriculture, with 17 billion reais, an increase of 20% compared to 2024 and 262% over 2022.

Credit approved for the trade and services sector totaled 13.5 billion reais, representing an increase of 18% over 2024 and 124% over 2022; and for infrastructure, it was 24.2 billion reais, an 8% decrease over 2024, but an increase of 53% over 2022.

The report also showed that support for micro, small, and medium-sized enterprises ( MSMEs ) increased in the first half of this year compared to last year. Guarantees provided by guarantee funds in operations carried out by financial agents reached R$56.8 billion, while credit approvals totaled R$32 billion, totaling R$88.8 billion in support for these companies, a 92% increase compared to the first half of 2024.

According to Mercadante , despite the adverse national scenario for credit, with high rates, the bank performed well.

"It's clear that monetary policy is contractionary, designed to slow the supply of credit. Our role as a public bank is to strive to deliver better results," he says. "We're seeing very significant growth in credit volume. Very significant, in a diverse environment."

The bank's net equity ended the first half of 2025 with a balance of 165.3 billion reais, according to the data presented, an increase of 6.9 billion reais compared to the balance in December 2024.