Banco do Brasil's Profit Falls 66.5% in Third Quarter
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Banco do Brasil is a big bank in Brazil. The bank made much less money in the third quarter of the year.
The bank's profit fell by 66.5%. Profit is the money a company keeps after costs. The bank made R$1.27 billion. This is much less than before.
Many farmers did not pay their debts to the bank. A debt is money you must pay back. The farmers waited for help from the government. They also waited for an election.
The bank said farmers hoped for a 'miracle solution'. This means they hoped for easy help without doing anything.
Because of this problem, Banco do Brasil changed its plans. The bank will pay less money to its shareholders. Shareholders are people who own part of a company.
The bank will now pay only 25% of its profit to shareholders. Before, the bank paid more. This payment is called a payout.
The bank also said it will not pay extra money, called dividends, in 2027. Dividends are money a company gives to its shareholders.
This news shows the bank is being careful. It wants to protect its money for the future.
Vocabulary15 words
- profit
- money a company keeps after it pays its costs
- debts
- money that you must pay back
- shareholders
- people who own part of a company
- payout
- money a company pays to its shareholders
- dividends
- extra money a company gives to shareholders
- quarter
- three months of the year
- farmers
- people who grow crops or keep animals
- election
- a time when people vote for a leader
- miracle
- something good that happens in a surprising way
- suspend
- to stop something for a while
- reduce
- to make something smaller
- bank
- a business that keeps and lends money
- government
- the group of people who run a country
- plan
- an idea about what to do
- future
- the time that has not happened yet
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Quiz
Answer key
1. 66.5% 2. They waited for help and an election 3. False
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Banco do Brasil is a big bank in Brazil. The bank made much less _____ in the third quarter of the year.
The bank's profit fell by _____. The bank made R$1.27 billion.
Many farmers did not pay their _____ to the bank.
The farmers waited for help from the government. They also waited for an _____.
The bank said farmers hoped for a '_____ solution'.
The bank will now pay only 25% of its profit to _____.
This payment is called a _____.
The bank also said it will not pay extra money, called _____, in 2027.
This news shows the bank is being _____.
It wants to protect its money for the _____.
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