BNDES disbursements reach R$ 33.3 billion in the first quarter

The National Bank of Economic and Social Development (BNDES) disbursed R$ 33.3 billion in the first three months of this year, a fall of 24% when compared to the same period last year. The approvals, equivalent to R$ 21 billion, and the consultations, equivalent to R$ 25 billion, fell respectively 46% and 47% when compared to the first three months of 2014.

The results partially reflect the adjustments of the new operational policy (PO) of BNDES. The bank is reducing its maximum participation levels in TJLP within its financings and opening a greater space for the market capitals presence in long-term funding. The last adjustment in this sense has happened December 2014.

Another fact has been the revision of the conditions of the BNDES Program for the Sustenance of Investments (BNDES PSI), which funds capital goods with a steady interest rate. Although they remain highly competitive, the increase of interest rates and the reduction of the maximum level of BNDES’s participation in funding affected the performance of the program, as expected. Thus, the result of the first 2015 quarter remained into the BNDES expectations. One of the highlights of the Bank’s performance in the quarter was the liberations for innovation, which increased 9% when compared to the same period last year and reached R$ 1 billion.  

Micro, small and medium-sized companies, to which the new BNDES PO assured the maintenance of the best funding conditions of the Bank, continued with an important participation in the funding, responsible for 31% (R$ 10.2 billion) of the total disbursement of BNDES in the first three months of 2015.

The performance has been boosted by the BNDES Card, whose disbursements in the period rose 16%, reaching R$ 2.8 billion. In the first three months of the year, from the 222 thousand operations performed with MPMEs, 182 thousand operations were provided through this product, which is exclusively intended to companies with this size.

From the total value liberated by BNDES between January and March this year, the infrastructure sector absorbed R$ 11.7 billion (a share of 35%), followed by the industry, with R$ 10.4 billion (31%), commerce and services, with R$ 7.6 billion (23%), and agribusiness, with R$ 3.5 billion (11%).
When it comes to the approvals, the greater participation was in the industry (40% of the total approved), with R$ 8.4 billion. BNDES approved to the infrastructure R$ 5.8 billion (28% of the total). Following the commerce and services, with R$ 4.3 billion (participation of 20.6%) and agribusiness, with R$ 2.3 billion (11%).

Fonte:  Imprensa BNDES