Santander (SANB11) and Vale (VALE3) release results this week; view the corporate calendar

Santander (SANB11) d Vale (VALE3) are the highlights of the week with the publication of the respective balance sheets for the third quarter (3Q23).

The bank reports figures for the period on Wednesday (25) and the mining company on Thursday (26).

The performance refers to the period marked by the first cuts in base interest rate economy of Brazil.

However, according to analysts, Santander should again report higher provisions for doubtful debts (PDD) and net interest income (NII) in a weaker market.

XP Investimentos expects an 8.9% increase in the loan portfolio as the bank’s risk appetite remains limited.

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Genial Investimentos estimates Santander’s profit at 2.8 billion reais 3T23which would mean a drop of 7.3% year-on-year.

Vale

Vale has already announced the balance sheet tone for the third quarter when it releases its interim report for the period. The ferrous division was in line with expectations, but the base metals were weaker.

A Genius henceforth remains constructive towards Vale’s activities. This is due to the fact that the base metals division has a lower weighting in EBITDA.

Analysts at the brokerage firm believe that the mining company will benefit from a highest income and greater ability to dilute fixed costs in the second half of the year.

See weekly chart of 3Q23 results