Bradesco (BBDC4): recurring profit of R$4.2 billion in 1Q24

Published at 7:35 am

Bradesco bank (BBDC4) reported this Thursday, 2nd, that it had recurring net profit of R$4.2 billion in the first quarter of 2024 (1Q24). This value corresponds to a drop of 1.6% compared to the same quarter in 2023 (1Q23). Compared to the previous quarter (4Q23), there was an increase of 46.3%.

The result was driven by lower expenses with Provision for Doubtful Debts (PDD), control of operating expenses and results from insurance operations, but still pressured by the financial margin with customers, highlighted the financial institution.

Bradesco’s accounting net profit totaled R$4.211 billion in the period, a drop of 1.6% compared to 1Q23.

The annualized return on equity (ROAE) was 10.2% in 1Q24.

Provision expenses (PDD) fell 17.9% in one year, to R$7.341 billion.

The margin with customers, which reflects the gain in credit operations, fell by 14.4% in one year, to R$14.5 billion.

The bank’s total financial margin fell 9% in 1Q24 compared to 1Q23, to R$15.1 billion.

See more details in the table below:

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