The Financial Espresso "Rural credit; Caixa results; Electronic receivab..."

Research evidence excerpt

The Financial Espresso "Rural credit; Caixa results; Electronic receivab..."

Global Research

15 May 2026ab

The Financial Espresso Equities

Latin AmericaRural credit; Caixa results; Electronic

receivables; Desenrola 2.0 & FGTS; Argentina Financial

inflation KaioAnalystPrato

kaio.prato@ubs.com

+55-11-3513 6573

BB seeks more guarantees in agribusiness after increase in delinquency and Thiago Batista, CFA

Analystjudicial reorganizations

thiago.batista@ubs.com

According to Valor, Banco do Brasil considers the outlook for 2026 to be more +55-11-3513 6518

challenging than anticipated earlier this year. In response, the bank has adopted a

Camila Azevedo

more cautious approach, particularly in the agribusiness sector, which has been

Associate Analyst

weighing on its financial performance. Nonetheless, the institution remains camila.azevedo@ubs.com

optimistic about a gradual improvement in the coming months, albeit within a +55-11-2767 6881

volatile environment. Additionally, Banco do Brasil has been strengthening

Bruno Kenji

collateral requirements for rural operations, expediting renegotiations, and

applying stricter criteria in credit approvals to mitigate portfolio risks. As a result, bruno.kenji@ubs.com

the bank's management expects delinquency rates in its agribusiness portfolio to +55-11-2767 6056

improve starting in the second half of the year . Our take: We flag that sustained

Olavo Arthuzo

challenges in rural credit are likely to persist, potentially delaying a rebound in

Analyst

BBSE's rural insurance segment. olavo.arthuzo@ubs.com

+55-11-2767 6306

Caixa Econômica Federal - 1Q26 Results

Beatriz Shinye

According to Valor, the Caixa mortgage loan portfolio closed 1Q26 with a balance of Associate Analyst

R$966 billion (+3% QoQ and +14% YoY).