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    BBDC4   BRBBDCACNPR8

BANCO BRADESCO S.A.

(BBDC4)
  Report
End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 05/07
24.06 BRL   +0.42%
05/06BANCO BRADESCO : Q1 Earnings Snapshot
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05/05BANCO BRADESCO S A  : Bradesco CEO says Brazilian lender's loan defaults under control
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05/05BANCO BRADESCO S A  : Bradesco 1Q21 - Earnings Presentation
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SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Bradesco 1Q Net Income Jumps 81.9% vs. Year Earlier to BRL6.2 Billion

05/04/2021 | 05:50pm EDT

By Jeffrey T. Lewis

SÃO PAULO--Banco Bradesco SA's net income rose in the first quarter from a year earlier as the lender set aside less money as provisions for bad loans.

Bradesco said book net income rose 81.9% in the three months through March from a year earlier to 6.2 billion Brazilian reais, equivalent to $1.1 billion. Recurring net income, which leaves out one-time items, rose 73.6% to 6.5 billion reais, the bank said Tuesday. Operating income increased 81% to 9.8 billion reais.

Bradesco and its peers in Brazil put aside billions of reais in provisions last year to prepare for a possible increase in bad loans due to the jump in unemployment and the shutting down of businesses arising from the coronavirus pandemic.

So far bad loan levels haven't risen sharply, partly because of debt renegotiations and the postponement of payments due to the pandemic. Bradesco reported a delinquency ratio of 2.5% in the first quarter, down from 3.7% in the first quarter of last year but up from 2.2% in the fourth quarter, and provisioned 3.9 billion reais for bad loans in the first quarter, down from the 6.7 billion reais it set aside in the same quarter a year earlier.

Bradesco and other Brazilian banks have been working to cut costs by closing branches and reducing staff. Bradesco said its operating costs fell 4.7% in the first quarter from a year earlier to 11.2 billion reais.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

(END) Dow Jones Newswires

05-04-21 1749ET

Stocks mentioned in the article
ChangeLast1st jan.
BANCO BRADESCO S.A. 0.42% 24.06 End-of-day quote.-2.48%
DJ INDUSTRIAL -1.29% 34290.53 Delayed Quote.13.63%
EURO / BRAZILIAN REAL (EUR/BRL) 0.12% 6.3499 Delayed Quote.0.41%
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05/04Bradesco 1Q Net Income Jumps 81.9% vs. Year Earlier to BRL6.2 Billion
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More news
Financials
Sales 2021 110 B 21 092 M 21 092 M
Net income 2021 24 523 M 4 693 M 4 693 M
Net Debt 2021 - - -
P/E ratio 2021 9,74x
Yield 2021 5,08%
Capitalization 224 B 42 976 M 42 871 M
Capi. / Sales 2021 2,03x
Capi. / Sales 2022 1,81x
Nbr of Employees 89 575
Free-Float 57,2%
Chart BANCO BRADESCO S.A.
Duration : Period :
Banco Bradesco S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BANCO BRADESCO S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 16
Average target price 30,58 BRL
Last Close Price 24,64 BRL
Spread / Highest target 57,1%
Spread / Average Target 24,1%
Spread / Lowest Target -2,97%
EPS Revisions
Managers and Directors
NameTitle
Octávio de Lazari Chief Executive Officer
Samuel Monteiro dos Santos Independent Director
Walter Luis Bernardes Albertoni Independent Director
João Aguiar Alvarez External Director
Denise Aguiar Alvarez Valente External Director
Sector and Competitors