Banco Mercantil (BMEB4) reported recurring net income of R$ 275 million in the second quarter of 2026, the 15th consecutive quarterly record, up 13% compared to 2Q25. In the same period, return on equity for the last 12 months was 41.4%, excluding non-recurring effects related to the agreement reached with the PGFN in 4Q25.
Between April and June 2026, the loan portfolio totaled R$ 25 billion, an increase of 30% in 12 months, with 83% of balances in collateralized lines, such as INSS payroll loans, public and private payroll loans, payroll credit cards and early FGTS withdrawals. The payroll loan portfolio came to R$ 18.5 billion, up 47% compared to 2Q25, while loan origination in the quarter was R$ 2.6 billion, down 1% on the same basis of comparison.
Non-performing loans over 90 days stood at 3.1% in 2Q26, 0.8 percentage point higher than in 2Q25, but below the levels for the National Financial System in individuals and in free resources published by the Central Bank. Delinquencies between 15 and 90 days ended the quarter at 2.6%, the same adjusted rate reported for 2Q25 when disregarding the operational effect of the new INSS biometric process in payroll loan refinancings.
Fee and commission income reached R$ 363 million in 2Q26, growth of 76% compared to the same quarter of 2025, with a higher contribution from insurance and assistance products aimed at the 50+ public. Net interest income (NII, financial intermediation result minus financial intermediation expenses) totaled R$ 1.4 billion, contributing to total revenue of R$ 1.8 billion in the quarter, while the net interest margin (NIM, financial intermediation result divided by average interest-earning assets for the current and previous quarters) came to 17.2%.
In capital and liquidity, the Basel ratio ended June 2026 at 17.2%, with Tier 1 capital of 14.9% and shareholders’ equity of R$ 3,135 million. The bank posted an LCR of 144% and an NSFR of 4.4 times, with 86% of funding raised through proprietary channels and total funding of R$ 33.7 billion, whose average cost over the last 12 months was 100.1% of the CDI.
