Brazilian investment bank BTG Pactual has posted a net income of BRL1.5bn ($397m) for the third quarter of 2015, a surge of 96% compared to the year ago quarter.
The company, which recently acquired Swiss private bank BSI, said its revenues in the third quarter increased by 50% to BRL2.5bn.
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The bank´s return on average equity (ROAE) ended the third quarter at 28.8%.
The bank in its earnings statement said asset management divisions continued to see good results, with the Wealth Management division performing particularly strongly.
The bank ended the third quarter with assets under management (AuM) and assets under administration (AuA) of BRL230.5bn, 7% higher than the previous quarter. Wealth under Management (WuM) rose 360% to BRL422.5bn in the period.
BTG Pactual CEO André Esteves said: "We are pleased to announce record revenues and net income in a period in which we significantly reduced our balance sheet risk. We also successfully concluded the acquisition of BSI, a move that we expect to be a major catalyst for our global growth in Asset and Wealth Management."
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