Brazil's Bradesco meets profit estimates despite slower credit revenue
BBD•Banco Bradesco reported third-quarter recurring net profit of 7.11 billion reais, up 14.6% year over year and close to analysts’ 7.14 billion-real estimate, despite slower growth in credit-related revenue.
1. Profit and revenue
Bradesco reported recurring net profit of 7.11 billion reais for the July-September quarter, compared with 7.14 billion reais expected by analysts. CEO Marcelo Noronha said slower growth in credit-related revenue was offset by non-credit revenue and cost control.
2. Loan and risk figures
Return on average equity rose to 15.6% from 14.7% a year earlier; Bradesco said it would have been 16.1% excluding its recent 10 billion-real capital increase. The loan book grew 11.1% to 1.15 trillion reais, while the over-90-day delinquency ratio rose to 4.6% from 4.1% and loan-loss provisions increased 24.3% to 10.6 billion reais.
3. Outlook and buyback
The lender kept its 2026 projections unchanged and renewed its share buyback program, which is set to start in November and cover up to 106.6 million shares.
