By Brazil Stock Guide – Caixa Econômica Federal reported a net profit of $700 million (R$3.7 billion) in the second quarter of 2025, a 12% increase from a year earlier. Earnings fell 39.6% from the first quarter, when results were boosted by non-recurring items.
Recurring net income for the first half reached $1.7 billion, up 44.9% year-on-year, with return on equity climbing to 11.9%. Total assets hit $385 billion in June, as the loan book expanded 10.1% over 12 months. Mortgage lending rose 11.7% to $165 billion, securing Caixa’s dominant 66.8% share of Brazil’s housing finance market.
The bank also returned to international debt markets for the first time in more than a decade, issuing a $700 million social bond after demand exceeded supply by seven times. Proceeds will fund microcredit and small-business loans, reinforcing its role as a government partner in financial inclusion.
In the first half, Caixa originated $20 billion in new mortgages through 369,000 contracts, benefiting more than 1.1 million people. It also disbursed $43 billion in social benefits, from Bolsa Família to pensions and unemployment insurance, and assessed $3.3 billion in projects under the federal government’s infrastructure program.
The lender strengthened its sustainability agenda by partnering with the Environment Ministry and the University of Brasília on housing and climate initiatives. Its sustainable finance portfolio reached $155 billion by June, aligned with the UN’s development goals.
Despite the sequential earnings drop, Caixa closed the quarter with a Basel capital ratio of 16% and a short-term liquidity coverage ratio above 240%. The bank’s “Caixa 2030” strategy aims to accelerate digitalization, deepen customer focus and reinforce environmental commitments, positioning it as “indispensable to Brazil.”
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