Bradesco had recurring net income of R$6.8 billion in the first quarter of 2022, which corresponds to a growth of 4.7% compared to the same period last year, and of 3.1% compared to the same period last year. immediately preceding quarter, according to balance sheet released this Thursday (5).
The bank’s loan portfolio reached R$834.5 billion at the end of March, which is equivalent to an expansion of 18.3% on an annual basis and of 2.7% at the margin.
According to Bradesco, double-digit growth was recorded in practically all products, both for individuals and companies, with emphasis on credit card operations, personal credit, payroll loans, real estate financing, rural credit, guaranteed account and CDC.
“We are satisfied with the deliveries this first quarter. The world is different, it is changing, and, in this context, the global changes in monetary policy, exchange rates and inflation are intense. This generates volatility. Our decision is to focus on scale, investment in technology, innovation and strict control of budgets”, said Octavio de Lazari Junior, CEO of Bradesco, in a note.
“Despite the increase in the Selic, credit origination maintains good dynamics, as people returned to consumption,” said Lazari.
high delinquency
The default rate of 3.2% at the end of the first quarter of this year surpassed the rates of March 2021 (2.5%) and December (2.8%).
Among individuals, the rate of delays of more than 90 days reached 4.4% in March 2022, compared to 3.5% in March 2021 and 3.8% in December last year.
Among micro, small and medium-sized companies, the default rate was 3.6%, against 2.6% a year ago and 3.1% at the end of 2021. Among large companies, the percentage was 0, 1%, against 0.4% in March last year and 0.3% in December.
“Compared with the periods before the pandemic, we have lower rates, even with the expressive growth of the credit portfolio, which demonstrates our good risk management.”
The PDD (Provision for Doubtful Accounts) totaled R$ 4.8 billion in the first quarter, an increase of 23.7% on an annual basis and of 12.9% in the margin.
ROAE (annualized return on equity), an indicator that measures the profitability of the operation, was 18%, compared to 18.7% in March 2021 and 17.5% in December.
“This result is a demonstration of our ability to capture opportunities, even in a scenario of uncertainties – with high inflation, rising interest rates and geopolitical tensions”, says the bank in the balance sheet.
According to Bradesco, the change in the macroeconomic environment led to a change in the guidance (projections) of some financial metrics. Margin growth with customers went from a range between 8% and 12% to between 18% and 22%, while the expected increase in revenue from services rendered went from 2% to 6% to a range between 4% and 8% .
The estimate for the PDD was from R$ 15 billion to R$ 19 billion for the range between R$ 17 billion and R$ 21 billion. Regarding operating expenses, the guidance is reduced from 3% to 7% to the range between 1% and 5%.
“We are confident that the work of all our teams will lead us to meet the guidance presented,” stated Lazari.
X-RAY | BRADESCO
Foundation 1943, in Marília (SP)
Net income in the 1st quarter of 2022 BRL 6.8 billion
agencies 2,948
Employees 87,488
Customers 74.8 million
Mainly competitors Itaú Unibanco, Santander, Banco do Brasil, Caixa Econômica Federal
I have over 8 years of experience in the news industry. I have worked for various news websites and have also written for a few news agencies. I mostly cover healthcare news, but I am also interested in other topics such as politics, business, and entertainment. In my free time, I enjoy writing fiction and spending time with my family and friends.
