Bradesco increases profit by 34.5% in the third quarter, to R$ 6.76 billion


Bradesco recorded net income of R$6.767 billion in the third quarter of 2021. The result represents a growth of 34.5% compared to the same period last year and 7.1% compared to the second quarter of the year.

According to the bank, the third quarter was marked by a strong recovery in the results of insurance operations, which grew by more than 100% in the period, motivated by the reduction in the frequency of events related to Covid-19.

Bradesco’s credit portfolio reached R$773.3 billion at the end of September, an increase of 16.4% in the annual comparison, and 6.5% compared to June 2021.

Highlight for the strong acceleration of the individuals portfolio, which presented an evolution of 24.7% in 12 months and of 6.3% in the quarter, to R$ 303.4 billion, driven by real estate financing operations, credit card and payroll loans. In the corporate portfolio, SME operations (small and medium-sized companies) grew 27.8% in the year and 9.1% in the quarter.

The result led the bank to revise its projection for the growth of the loan portfolio in 2021, from a range of 9% to 13% to something between 14.5% and 16.5%.

“The numbers demonstrate our ability to react quickly to changes in the scenario. The economic recovery with the slowdown of the pandemic has brought back customer demand for new business, investments and services,” said Bradesco president, Octavio de Lazari Jr. , in a statement.

Lazari considered that the macroeconomic environment was generally positive in recent months. “Despite some uncertainties, when we look in the rearview mirror, we realize that the pandemic is behind us,” said the executive. “The atmosphere of the agencies, which went back to working with 100% of the staff on a face-to-face basis, has completely changed, there is more demand, interest and conversation about business”.

The financial institution’s service provision revenue reached R$8.8 billion in the period, an increase of 7.8% year-on-year, and a 4.1% increase in the margin.

The annualized return on average equity (ROAE) was 18.3%, an evolution of 5.4 percentage points on an annual basis, and 0.1 point compared to the previous quarter.

The default rate ended the quarter at 2.6%, against 2.3% a year ago, and 2.5% in the second quarter.

The provision for bad debts reached R$ 3.4 billion in the quarter, down 39.9% year-on-year and 3.7% compared to June 2021.

“There is a known risk combo, composed of fiscal, inflation, GDP and increased competition. The challenges have changed, but they are equally intense. We will position ourselves as the scenario for next year consolidates. credit policy will continue to be points of attention and criteria,” commented the president of Bradesco.

X-ray | Bradesco

Foundation 1943, in Marília (SP)

Net profit no 3rd quarter of 2021 BRL 6.767 billion

Agencies 3.030

Employees 87.736

Mainly competitors Itaú Unibanco, Banco do Brasil, Santander, Caixa Econômica Federal


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