BRSR3: quote, dividends and indicators for Banco do Estado do Rio Grande do Sul - Banrisul

Banco do Estado do Rio Grande do Sul – Banrisul is a multiple-service financial institution controlled by the State of Rio Grande do Sul and organized as a publicly held corporation, with shares traded on B3 under the tickers BRSR3, BRSR5, and BRSR6. Founded in 1928 with an initial focus on rural and mortgage lending, the bank gradually expanded its operations, starting to collect state taxes in 1931 and incorporating several public financial institutions over the decades. In 1990, it became established as a multiple-service bank and, in 1997, became the main financial agent of the State of Rio Grande do Sul, centralizing services such as payroll payments for public employees. From the late 1990s onward, it underwent restructuring and recapitalization processes, including its participation in PROES and its IPO in 2007, which strengthened its capital base, increased its lending capacity, and enabled investments in technology and corporate governance.

Banrisul’s recent trajectory has been marked by technological modernization and revenue diversification. In the 2000s and 2010s, the institution gained prominence in digital security, chip cards, internet banking, and digital certification, in addition to consolidating its own acquiring network through the then Banricompras brand, now Vero, expanding its presence in the payments market. The bank also developed strategic partnerships in the card, insurance, pension, and capitalization segments, reinforcing its position in retail banking. Starting in 2016, it intensified initiatives aimed at operational efficiency and digital transformation, focusing on individuals, small and medium-sized enterprises, and agribusiness. Between 2022 and 2024, it carried out institutional rebranding and launched new digital solutions, including digital and multi-currency accounts, seeking to consolidate its image as a bank connected to the regional economy and digitalization trends. In 2025, it recorded record net income of R$ 1.6 billion under managerial reporting, in a context of investments in technology, security, artificial intelligence, and the modernization of its physical and self-service network, in addition to launching the Banrisul Empresas and Banrisul Corporate segments to provide specialized services to legal entities.

As a multiple-service bank, Banrisul operates commercial, credit, financing and investment, mortgage, development, leasing, and foreign exchange portfolios, with headquarters in Porto Alegre (RS). Through subsidiaries and affiliates, it operates in securities brokerage, management of consortium groups, payments, insurance and private pension plans, forming an integrated financial group. The institution also serves as an instrument of the economic and financial policy of the State of Rio Grande do Sul, in alignment with state government plans and programs, which includes participation in credit lines aimed at regional development, agribusiness, and public financing, subject to legal restrictions such as the prohibition on granting direct loans to the State itself as set forth in the Banking Reform Law.

Banrisul’s business management is organized into operating segments that reflect its main sources of revenue. The Banking segment concentrates funding through deposits and credit notes, lending operations, checking account services, credit cards, tax collection, and the payments business, including capture, processing, and settlement of electronic card transactions, generating management fee income through its subsidiary Banrisul Soluções em Pagamentos S.A. The Insurance segment covers insurance, private pension plans, and capitalization products, with revenue from fees, commissions, premiums, contributions, and securities. The Consortia segment manages groups for the purchase of real estate, automobiles, motorcycles, agricultural machinery, and other goods and services. Other segments cover intermediation of fixed-income and equity investments on B3, investment fund management, leasing of spaces, storage, digitization, and electronic document management, with revenue from diverse service offerings. In 2025, consolidated net revenue was primarily generated by the Banking segment, which accounted for around 97.8% of managerial revenue, while Insurance, Consortia, and Other segments contributed smaller but complementary portions to the group’s diversification.

Regarding its products in detail, Banrisul’s retail loan portfolio includes payroll-deductible loans primarily targeted at state and municipal public servants, INSS retirees and pensioners, as well as agreements with private companies; non-payroll personal loans with repayment via direct debit, including specific lines such as 13th salary and tax refund advances; direct consumer credit for financing new and used vehicles, with limits defined by risk classification and secured by fiduciary lien; and overdraft services as revolving credit limits for individuals, with limits and rates adjusted to the customer’s risk profile, in compliance with the regulatory cap set by the Central Bank for this product. For legal entities, operations are focused on micro, small, and medium-sized enterprises, with working capital lines, guaranteed account (secured overdraft), discounting of receivables, early payment of receivables, and CDC for the acquisition of machinery and vehicles, as well as financial leasing operations for industry, commerce, and services. The bank also offers real estate financing for individuals and companies, including the Plano Empresário (construction finance) for developers, and rural credit lines for working capital, investment, storage, and acquisition of machinery, using funds on-lent from BNDES/FINAME, including programs such as PRONAF and PRONAMP.

In foreign exchange and international business, Banrisul offers export financing, such as Advances on Export Contracts (ACC – Adiantamento sobre Contrato de Câmbio) and Advances on Delivered Export Documents (ACE – Adiantamento sobre Cambiais Entregues), import guarantees through letters of credit, import financing (FINIMP), on-lending of funds raised abroad, as well as international remittances and manual exchange transactions, with terms negotiated on a case-by-case basis according to the client’s profile and needs. In payments, the subsidiary Banrisul Pagamentos operates the acquiring business under the Vero brand, handling merchant acquiring, capture, processing, and settlement of credit, debit, and prepaid/postpaid card transactions, with revenue from merchant discount rates (MDR), monthly fees, and connectivity fees. The same subsidiary manages the BanriCard portfolio of benefit and corporate cards, such as food, meal, culture, fuel, payroll, fleet management, social programs, and others, remunerated through reimbursement fees on transaction volumes and management fees charged to participating companies. Banrisul is also an issuer of Visa and Mastercard credit cards and maintains the Banricompras card, linked to checking accounts and used for one-time or installment purchases at accredited merchants, without a bill or annual fee, with a focus on convenience and security through chip technology and SMS transaction alerts.

Banrisul’s customer base is diversified, with no significant concentration in a single client accounting for more than 10% of total net revenue, which mitigates commercial dependency risk. Revenue is generated almost entirely in the domestic market, with a primary focus on the State of Rio Grande do Sul and operations in other states through specific activities, especially payroll-deductible loans and agreements. The institution does not record material revenue from abroad, although it maintains operations and units outside Brazil. As a state-owned bank and securities issuer, Banrisul is subject to the regulatory framework of the Brazilian Financial System, requiring authorization from the Central Bank of Brazil to operate and being under continuous supervision by bodies such as the Central Bank, the National Monetary Council, the Brazilian Securities and Exchange Commission (CVM), SUSEP, and PREVIC, in addition to interacting with sector self-regulatory entities. The institution reports that it maintains a stable relationship with these bodies, with no record of situations that jeopardize its operating licenses.

In the environmental, social, and governance (ESG) field, Banrisul has disclosed information since 1999 in specific annual reports that follow international standards such as the Global Reporting Initiative (GRI) guidelines, complemented by indicators from the Sustainability Accounting Standards Board (SASB). The institution is a signatory to the UN Global Compact and periodically prepares reports on social, environmental, and climate-related risks and opportunities, in line with Central Bank of Brazil regulations on social and environmental and climate risks. These reports include a materiality matrix built from consultations with internal and external stakeholders, including employees, shareholders, clients, suppliers, government representatives, regulators, unions, and civil society. Material topics highlighted include employee development and well-being, diversity and inclusion, climate change, ethics and compliance, financial inclusion and education, innovation and technology, data privacy and security, and sustainable products and businesses. The Sustainability Report is subject to independent assurance by Deloitte Touche Tohmatsu, which adds a further level of credibility to the information disclosed.

Additionally, Banrisul maintains an annual greenhouse gas emissions inventory based on the methodology of the Brazilian GHG Protocol Program, coordinated by Fundação Getulio Vargas, having obtained the Gold Seal for independent verification for the 2021 to 2024 inventories. In the area of climate change, the institution reports information through the CDP – Disclosure Insight Action platform, which it joined in 2021, and received a C rating in the 2024 cycle, reflecting a consolidation stage in its climate risk management practices. These initiatives, combined with its historical role as a regional public bank, its performance as an economic development agent, and its status as a publicly traded company with shares listed on B3 under the tickers BRSR3, BRSR5, and BRSR6, form the institutional context in which Banrisul structures its business strategy, risk management, and sustainability policies.