CETIP, the Brazilian CSD which operates the marketplace for fixed income securities and over-the-counter (OTC) derivatives in Latin America, reported revenues from the custody/ depository business reaching R$132.3 million in 2011, 77.6% higher than 2010. These revenues were a major driver of growth for the company and were attributed to the increased expansion of the volume of financial instruments held in custody/depository by CETIP. In the fourth quarter of 2011, the depositary revenue totaled R $ 38.7 million, up 11.8% compared to 3Q11.
The company saw net income in 2011 of R$ 741.8 million last year, a 33.1% increase from 2010.
EBITDA in 2011 reached R$ 546.8 million, up 45.6% over 2010
In the last quarter alone, the adjusted net profit reached 104.8 million dollars, up 14.2% over the previous three months.
Francisco Carlos Gomes, CFO of Cetip, revealed that the depository services accounted for approximately 16% of total gross revenues. “The past year has confirmed the depository service as an important source of revenue for the company. We believe that it should continue to be a revenue line increasingly important, and present behavior very resilient. “
Rrevenue reached R$ 25.8 million in the fourth quarter of 2011, an increase of 18.9% over the same period last year. This movement is explained mainly by growth of 21.4% in revenue from registration of fixed-income instruments and 49.6% in line with other registration services, said CETIP.
(JDC)