Santander Brasil releases transcript of Q2 2026 earnings call

• Santander Brasil released its 2Q26 earnings call transcript, led by CFO Carlos Muñiz with Q&A moderated by IR head Camila Stolf.
• Recurring net profit reached R$ 3 billion, ROE 12.5%; management pointed to higher credit costs and deliberate balance-sheet rebalancing.
• Credit strategy shifted toward secured lending and higher-income clients; exposure to borrowers earning under R$ 4,000 fell about 30% in 12 months.
• Provision expense totaled R$ 7.7 billion; about R$ 700 million tied to specific wholesale cases and a new write-off methodology.
• Management flagged weaker revenue momentum, kept a 50% payout policy, guided PDD relief toward early 2027, DTA turnaround still seen in 2027-2028.

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