SAO PAULO, Nov 13 (Reuters) - State-controlled lender Caixa Econômica Federal, Brazil’s largest mortgage lender, slowed down the pace of loan disbursements in the third quarter after scaling down operations in some segments.
Brasilia-based Caixa posted net income of 1.9 billion reais ($738.4 million) in the quarter, up 1 percent from a year earlier, according to a statement on Thursday. Average return on equity hit 17.8 percent at the end of September, the statement added.
Caixa’s loan book, the second largest in Brazil, reached 576.4 billion reais at the end of third quarter, up 24.4 percent from a year earlier.
$1 = 2.5732 Brazilian reais Reporting by Guillermo Parra-Bernal