Source: FINANCIAL INSTITUTIONS IN LATIN AMERICA NET INCOME REPORT
The Brazilian financial system closed September 2025 with a robust aggregate performance, reflecting both the scale of the market and the high level of concentration among its leading players. According to the Financial Institutions in Latin America – Net Income Report, the analysis covers the financial statements of 1,419 banking, financial and cooperative entities operating in Brazil, making it the largest national sample within the regional study.
Out of the total entities analyzed, 1,079 institutions reported positive net results during the period, representing 76% of the market. This ratio highlights a broadly profitable system, although it also points to a relevant share of institutions still operating under pressure in a highly competitive and regulated environment.
In aggregate terms, the Brazilian financial sector recorded a net profit of USD 11.2 billion, equivalent to BRL 60.1 billion. These figures confirm Brazil’s central role in shaping the overall profitability of the Latin American financial industry, given both the number of institutions and the absolute scale of earnings generated.
Profitability, however, remains strongly concentrated. Itaú led the ranking with a net result of USD 2.24 billion, followed by Bradesco with USD 1.19 billion. BTG Pactual ranked third with USD 812 million, while Santander reported USD 769 million. The Banco Nacional de Desenvolvimento Econômico e Social completed the top five with profits of USD 730 million. Together, these five institutions generated 51% of the total profits recorded by the entire Brazilian financial industry during the period, underlining the dominance of a small group of large competitors.
Beyond the top five, Caixa Econômica Federal posted net profits of USD 657 million, Banco do Brasil reached USD 581 million, and the payments-focused NU Pagamentos S.A. reported USD 544 million. Nubank added USD 412 million in net results, Safra recorded USD 211 million, and Redecard Instituição de Pagamento S.A. closed the ranking with USD 172 million, reinforcing the growing relevance of payment institutions alongside traditional banks.
Overall, the results as of September 2025 depict a profitable and resilient Brazilian financial system, characterized by a high proportion of institutions operating in the black but with earnings heavily concentrated among the largest banks and financial groups. This structure continues to shape competition, market shares and strategic positioning across banking, financial and cooperative entities in Brazil.