Bradesco (BBDC4) reported recurring net profit of R$4.2 billion in the first quarter of 2024, registering an increase of 46.3% compared to the previous quarter, but a drop of 1.6% compared to the same period of the previous year.
According to the report, performance was driven by the reduction in expenses with Provision for Doubtful Debts (PDD), the control of operating expenses and the result of insurance operations, but was still negatively impacted by the financial margin with customers.
Net accounting profit was R$4.211 billion in the period, representing a drop of 1.6% compared to the same period of the previous year.
The bank’s margin with customers, which reflects gains in credit operations, fell by 14.4% in one year, totaling R$14.522 billion.
Bradesco (BBDC4)
The balance also shows that Bradesco’s total financial margin decreased by 9% in the first quarter compared to the same period of the previous year, reaching R$15.152 billion.
The bank’s revenue from services increased by 1.3% in one year, totaling R$8.861 billion.
On the other hand, provision expenses (PDD) fell 17.9% in one year, reaching R$7.341 billion.
Bradesco achieved an annualized return on equity (ROAE) of 10.2% in the first quarter of 2024.
1TRI24
Bradesco’s credit portfolio closed the quarter at R$889.918 billion, registering an increase of 1.2% compared to the same period of the previous year. This growth was driven by operations for individuals, which increased by 2.0%, while the corporate portfolio increased by 0.7%.
The company
Bradesco is one of the largest financial institutions in Brazil. Founded in 1943 in the city of Marília, in the state of São Paulo, Bradesco has grown to become a diversified financial institution, offering a wide range of financial products and services to individual and corporate clients.
