Bradesco 3Q21 - Earnings Presentation

3RD QUARTER

RESULTS

2021

s

FINANCIAL HIGHLIGHTS 3Q21

Recurring Net

Income

6.8 7.1% q/q

R$ bi 34.5% y/y

Insurance, Pension Plans and Capitalization Bonds

3.2 104.1% q/q

R$ bi 2.6% y/y

Expanded

Loan Portfolio

R$773.3bi 6.5% q/q

16.4% y/y

ROAE

Quarterly

18.6% 1.0 p.p. q/q

3.4 p.p. y/y

Client

NII

14.1 Spread 3Q: 9.0%

R$ bi 4.3% q/q 9.8% y/y

Credit Origination on

Digital Channels

R$30bi	Individuals: R$15bi
58% y/y

Operating Efficiency Ratio (ER)

(Accumulated in 12 Months)

45.4% 1.8 p.p. y/y

Fee and Commission Income

8.8 4.1% q/q

R$ bi 7.8% y/y

Expanded

ALL

3.4 3.7% q/q

R$ bi 39.9% y/y

2

OPERATIONAL EVOLUTION

11.3% q/q		104.1% q/q		4.1% q/q
Operating		Insurance, Pension Plans		Fee and Commission
Income		and Capitalization Bonds		Income

				Variation%
			3Q21	3Q21	9M21
R$ million	3Q21	9M21
x 2Q21	x 3Q20	x 9M20
Net Interest Income	15,702	47,018	(0.2)	2.7	1.2
Client NII	14,054	40,750	4.3	9.8	4.7
Market NII	1,648	6,268	(27.3)	(33.9)	(17.0)
Expanded ALL	(3,358)	(10,752)	(3.7)	(39.9)	(49.2)
GROSSINCOMEFROMFINANCIALINTERMED.	12,344	36,266	0.8	27.3	43.4
Income from Ins., Pension Plans and Cap. Bonds	3,213	7,924	104.1	2.6	(19.5)
Fee and Commission Income	8,756	25,235	4.1	7.8	5.0
Operating Expenses	(11,882)	(34,075)	8.1	1.3	(2.5)
Tax Exp.+Equity in the earnings (losses) of	(1,840)	(5,471)	6.5	(2.4)	(5.2)
unconsolidated and jointly controlled subsidiaries
OPERATING INCOME	10,591	29,879	11.3	44.3	62.0
Non-Oper. Income +Income Tax / Social	(3,824)	(10,277)	19.5	65.5	77.6
Contrib.+Non-controlling int. in subs. + Others
RECURRING NET INCOME	6,767	19,602	7.1	34.5	54.9

Income Origin

(Financial and Insurance Areas)

6,767

5,031	6,319
										77%
74%	90%
26%	10%						23%
	3Q20		2Q21					3Q21
			Insurance			Financial
	Comparison 9M21 x 9M19
										9M21
R$ million		9M19			9M21
			x 9M19
Total Revenues	101,735		107,753	5.9%
Total Expenses	36,366		34,075	(6.3%)
Efficiency Ratio	49.5%			45.4%	(4.1) p.p.
EBT	27,109			29,683	9.5%

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EXPANDED LOAN PORTFOLIO

41.3% y/y 26.0% y/y 27.8% y/y

Real Estate	Credit Cards				SMEs
Financing
						Variation%	Total%
					Sep/21	Sep/21
R$ million		Sep/21	Sep/21
	x Jun/21	x Sep/20
COMPANIES		469,844	6.6	11.6	60.8
Large corporates		308,483	5.3	4.7	39.9
Micro, Small and Medium-Sized Enterprises	161,361	9.1	27.8	20.9
INDIVIDUALS		303,479	6.3	24.7	39.2
Payroll-deductible Loans		82,505	5.2	24.2	10.7
Real Estate Financing		73,903	7.6	41.3	9.6
Credit Cards		47,384	9.8	26.0	6.1
CDC/Vehicles Financing		31,047	3.1	9.0	4.0
Personal Loans		32,973	3.8	15.7	4.3
Other		35,666	6.5	18.4	4.6
TOTAL OF EXPANDED LOAN PORTFOLIO		773,323	6.5	16.4	100.0
WITHOUT EXCHANGE VARIATION			5.9	16.7

Loan Origination

per business day

120 130

100

3Q20 2Q21 3Q21

	119	138
100

3Q20 2Q21 3Q21

100 122 116

3Q20 2Q21 3Q21

Total

30%

y/y

Companies

38%

y/y

Individuals

16%

y/y

4

PROVISION FOR CREDIT RISK

Expanded ALL (Expenses)

(R$ Billion)

5.4%

			4.1%
2.2%	2.6%				3.4%	2.7%	2.2%	1.9%
		8.9			1.7%
			6.7			5.6
						4.6
3.3	4.0					3.9	3.5	3.4
3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
		Expanded ALL		Expanded ALL / Expanded Portfolio - Annualized Rate

Allowance for Loan Losses*

(R$ Billion)

8.2%	8.1%	8.5%	9.0%	9.2%	8.9%	8.7%	8.1%	7.7%

36.1	36.8	40.5	43.2	44.9	45.3	46.0	44.4	44.6
3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
			ALL Balance				ALL Balance / Bacen Portfolio

Coverage Ratio - Over 90 days

398%	403%
	350%
299%	325%
297%

226% 245% 228%

Sep-19Dec-19Mar-20Jun-20Sep-20Dec-20Mar-21Jun-21Sep-21

Coverage Ratio - Over 90 days + Reneg.

120%	121%	124%	121%		120%
	118%	117%
116%					115%

Sep-19Dec-19Mar-20Jun-20Sep-20Dec-20Mar-21Jun-21Sep-21

*ALL balance includes Specific, Generic and Complementary portions.

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