SAO PAULO, April 26, 2018 /PRNewswire/ -- Banco Bradesco
(B3: BBDC3, BBDC4; NYSE: BBD, BBDO; e Latibex: XBBDC) announces
today its results for the first quarter of 2018 (1Q18). Please
refer to the information below.
The main figures reported by Bradesco are as follows:
|
Variation%
(unless other wise
stated)
|
|
|
|
|
|
|
R$ million (unless
otherwise stated)
|
1Q18
|
4Q17
|
1Q17
|
1Q18 x
4Q17
|
1Q18 x
1Q17
|
|
|
|
|
|
|
|
|
|
|
|
|
Result
|
|
|
|
|
|
Recurring Net Income
(1)
|
5102
|
4,862
|
4,648
|
4.9
|
9.8
|
Net Interest
Income
|
15,686
|
15,813
|
16,036
|
(0.8)
|
(2.2)
|
Expanded ALL
(2)
|
(3,892)
|
(5,405)
|
(5,282)
|
(28.0)
|
(26.3)
|
Fee and Commission
Income
|
7,831
|
8,062
|
7,430
|
(2.9)
|
5.4
|
Insurance Written
Premiums, Pension Plan Contributions and Capitalization Bond
Income
|
17,570
|
21,192
|
17,948
|
(17.1)
|
(2.1)
|
Statement of
Financial Position
|
|
|
|
|
|
Total Assets
(3)
|
1,303,842
|
1,298,328
|
1,294,139
|
0.4
|
0.7
|
Expanded Loan
Portfolio (4)
|
486,645
|
492,931
|
502,714
|
(1.3)
|
(3.2)
|
-
Individuals
|
177,814
|
175,469
|
171,820
|
1.3
|
3.5
|
-
Companies
|
308,831
|
317,462
|
330,894
|
(2.7)
|
(6.7)
|
Shareholders'
Equity
|
113,776
|
110,457
|
104,558
|
3.0
|
8.8
|
Assets under
Management
|
2,003,948
|
1,987,487
|
1,943,687
|
0.8
|
3.1
|
Highlights
|
|
|
|
|
|
Annualized Return on
Average Equity (ROAE) - % (5)
|
18.6
|
18.0
|
18.3
|
0.6 p.p.
|
0.3 p.p.
|
Efficiency Ratio (ER)
- % (6)
|
40.9
|
40.8
|
40.0
|
0.1 p.p.
|
0.9 p.p.
|
Recurring Net Income
per Share - R$ (6) (7)
|
2.91
|
2.84
|
2.64
|
2.5
|
10.2
|
Market Capitalization
(8)
|
237,219
|
200,521
|
178,208
|
18.3
|
33.1
|
Interest on
Shareholders' Equity - Net
|
1,519
|
2,216
|
1,568
|
(31.5)
|
(3.1)
|
Delinquency Ratio
(> 90 days (9) / Loan Portfolio) - %
|
4.4
|
4.7
|
5.6
|
(0.3)
p.p.
|
(1.2)
p.p.
|
Tier I Capital - %
(10)
|
12.4
|
13.1
|
12.0
|
(0.7)
p.p.
|
0.4 p.p.
|
(1) According to the non-recurring events described on page 5 of
this Economic and Financial Analysis Report;
(2) Includes provision for sureties, guarantees, income from credit
recoveries, discounts granted, result with BNDU (assets not for own
use) and impairment of financial assets;
(3) For more information, please see note 4 – Balance Sheet and
Managerial Statement of Income, in chapter "Complete Financial
Statements" of this report;
(4) Besides the Loan portfolio – Brazilian Central Bank (Bacen)
concept, includes sureties, guarantees, credit letters, advances on
credit card receivables, debentures, promissory notes,
co-obligations in real estate receivable certificates and rural
credit;
(5) It excludes mark-to-market effect of Available-for-Sale
Securities recorded under the Shareholders' Equity;
(6) In the last 12 months;
(7) For comparison purposes, shares were adjusted in accordance
with bonuses and stock splits occurred in the periods;
(8) Number of shares (excluding treasury shares) multiplied by the
closing price for common and preferred shares on the period's last
trading day;
(9) Overdue loans; and
(10) Reduction related to the change in the timetable for the
application of deductions on the prudential adjustments that
resulted in 100% in 2018 (80% in 2017).
Recurring Net Income vs. Book Net Income
Below is a comparison between the main non-recurring events that
affected the net income in the period:
R$
million
|
1Q18
|
4Q17
|
1Q17
|
Recurring Net
Income
|
5,102
|
4,862
|
4,648
|
Non-Recurring
Events
|
(635)
|
(1069)
|
(577)
|
- Goodw ill
amortization (Gross)
|
(607)
|
(600)
|
(554)
|
- Other
(1)
|
(28)
|
(469)
|
(23)
|
Book Net
Income
|
4,467
|
3,793
|
4,071
|
(1) Consisting basically of contingent liabilities, and in the
4Q17, includes: (a) impairment of non-financial assets, in the
amount of R$278 million; (b) special
tax regularization program (PERT), in the amount of R$49 million; and (c) program of incentivized
installment (PPI), in the amount of R$62 million. Net of tax
effects.
Summarized Analysis of Recurring Income
For more information about the summarized analysis of recurring
income presented as follows, see chapter "Economic and Financial
Analysis" of this report.
Recurring Income
Statement
|
Variation
%
|
|
(R$
million)
|
1Q18
|
4Q17
|
1Q17
|
1Q18 x
4Q17
|
1Q18 x
1Q17
|
|
|
|
|
|
|
Net Interest
Income
|
15,686
|
15,813
|
16,036
|
(0.8)
|
(2.2)
|
- NII -
Interest Earning Portion
|
15,493
|
15,661
|
15,900
|
(1.1)
|
(2.6)
|
- NII -
Non-Interest Earning Portion (1)
|
193
|
152
|
136
|
27.0
|
41.9
|
Expanded
PDD
|
(3,892)
|
(5,405)
|
(5,282)
|
(28.0)
|
(26.3)
|
ALL
Expenses
|
(4,599)
|
(5,414)
|
(5,896)
|
(15.10
|
(22.0)
|
Income from Credit
Recovery
|
1,447
|
1,593
|
1,541
|
(9.2)
|
(6.1)
|
Granted Discounts /
Other (2)
|
(485)
|
(801)
|
(507)
|
(39.5)
|
(4.3)
|
Impairment of
Financial Assets
|
(255)
|
(7830
|
(420)
|
(67.4)
|
(39.3)
|
Gross Income from
Financial Intermediation
|
11,794
|
10,408
|
10,754
|
13.3
|
9.7
|
Income from
Insurance, Pension Plans and Capitalization Bonds (3)
|
1,515
|
1,873
|
1,627
|
(19.1)
|
(6.9)
|
Fee and Commission
Income
|
7,831
|
8,062
|
7,430
|
(2.9)
|
5.4
|
Personnel
Expenses
|
(4,829)
|
(4,878)
|
(4,822)
|
(1.0)
|
0.1
|
Other Administrative
Expenses
|
(4,810)
|
(5,340)
|
(4,854)
|
(9.90
|
(0.9)
|
Tax
Expenses
|
(1,821)
|
(1,758)
|
(1,772)
|
3.6
|
2.8
|
Equity in the
earnings (losses) of unconsolidated and jointly
controlled
subsidiaries
|
27
|
30
|
58
|
(10.0)
|
(53.4)
|
Other Operating
Income / (Expenses)
|
(2,037)
|
(1,923)
|
(1,833)
|
5.9
|
11.1
|
Operating
Income
|
7,670
|
6,474
|
6,588
|
18.5
|
16.4
|
Non-Operating
Income
|
(9)
|
(160
|
(52)
|
(43.8)
|
(82.7)
|
IR/CS
|
(2,483)
|
(1,543)
|
(1,839)
|
60.9
|
35.0
|
Income Tax / Social
Contribution
|
(76)
|
(53)
|
(49)
|
43.4
|
55.1
|
Non-controlling
interests in subsidiaries
|
5,102
|
4,862
|
4648
|
4.9
|
9.8
|
(1) Includes impairment of financial assets without
characteristic of credit;
(2) Includes the result with BNDU and provision to sureties and
guarantees; and
(3) Income from Insurance, Pension Plans and Capitalization Bonds =
Retained Premiums from Insurance, Pension Plans and Capitalization
Bonds - Variation in technical reserves for Insurance, Pension
Plans and Capitalization Bonds - Retained Claims - Capitalization
Bond Draws and Redemptions - Insurance Plan, Pension Plan and
Capitalization Bond Selling Expenses.
The Financial Statements can be found in Bradesco's Investor
Relations website at banco.bradesco/ri.
CONTACT
Investor Relations Team
+55-11-2194-0922
investors@bradesco.com.br