Banco Bradesco (BM&FBOVESPA: BBDC3, BBDC4; NYSE: BBD and Latibex: XBBDC) Announces its Results for Nine-Month Period of 2011
SAO PAULO, October 26, 2011 /PRNewswire/ --
The main figures obtained by Bradesco in the nine-month period of 2011 are presented below:
1. Adjusted Net Income(1) in the period was R$8.427 billion (an 18.4%
increase compared to the R$7.120 billion recorded in the same period
last year), corresponding to earnings per share of R$2.91 in the last
12 months and Return on Average Shareholders' Equity(2) of 22.4%.
2. Adjusted Net Income was composed of R$6.086 billion from financial
activities, representing 72.2% of the total, and R$2.341 billion from
insurance, private pension plans and savings bond operations, which
accounted for 27.8%.
3. On September 30, 2011, Bradesco's market capitalization stood at
R$96.682 billion(3).
4. Total Assets stood at R$722.289 billion in September 2011, an 18.0%
increase on the balance in the same period in 2010. Return on Average
Assets was 1.7%.
5. The Expanded Loan Portfolio(4) stood at R$332.335 billion in
September 2011, up 22.0% from the same period in 2010. Operations
with individuals totaled R$105.389 billion (a 13.3% gain), while
operations with companies totaled R$226.946 billion (up 26.5%).
6. Total Assets under Management stood at R$973.194 billion, an increase
of 16.1% from September 2010.
7. Shareholders' Equity stood at R$53.742 billion in September 2011, up
16.5% on September 2010. The Capital Adequacy Ratio stood at 14.7% in
September 2011, 12.2% of which fell under Tier I Capital.
8. Interest on Shareholders' Equity and Dividends were paid and
provisioned to shareholders for the first nine months of 2011 in the
amount of R$2.838 billion, R$1.104 billion of which was paid as
monthly and interim dividends and R$1.734 billion provisioned.
9. Financial Margin reached R$29.063 billion, up 20.9% in comparison
with the first nine months of 2010.
10. The Delinquency Ratio over 90 days stood at 3.8%, stable in
comparison with September 2010.
11. The Efficiency Ratio(5) stood at 42.7% in September 2011 (42.5% in
September 2010) and the "adjusted-to-risk" ratio stood at 52.4%
(53.3% in September 2010).
12. Insurance Written Premiums, Pension Plan Contributions and Savings
Bond Income totaled R$26.560 billion in the nine-month period of
2011, up by 20.4% over the same period in 2010. Technical provisions
stood at R$97.099 billion, equal to 30.1% of the Brazilian insurance
market (reference date: July/11).
13. Investments in infrastructure, information technology and
telecommunications amounted to R$2.819 billion in the first nine
months of 2011, a 4.6% increase on the same period in the previous
year.
14. In the first nine months of 2011, taxes and contributions, including
social security, paid or provisioned, amounted to R$14,127 billion,
R$6,042 billion of which referred to taxes withheld and collected
from third parties and R$8.085 billion to activities of Bradesco
Organization, equivalent to 95.9% of Adjusted Net Income(1).
15. Continuing its strategy towards organic growth, Bradesco launched, in
the past 12 months, 451 branches of which 271 were opened in the last
three months and hired over 9 thousand new employees in the period.
Bradesco has an extensive customer service network in Brazil,
comprising 6,925 service points (3,945 branches, 1,320 PABs - Banking
Service Branches and 1,660 PAAs - Advanced Service Branches).
Customers can also use 1,589 PAEs - ATMs in companies, 31,372
16. Bradesco Expresso service points, 6,233 Postal Bank branches, 33,217
own ATMs in the Bradesco Dia&Noite network and 12,379 ATMs shared
with other banks(6).
17. Employee payroll, plus charges and benefits, totaled R$6.631 billion.
Social benefits provided to the 101,334 employees of the Bradesco
Organization and their dependents amounted to R$1.585 billion, while
investments in training and development programs totaled R$108.268
million.
18. On August 12, 2011, Fitch Rating raised Bradesco's support rating(7)
by one notch, from '3' to '2'.
19. On August 22, 2011, Japanese rating agency R&I raised Bradesco's
issuer rating from 'BBB-' to 'BBB'.
20. Main Awards and Acknowledgments in the period:
-- For the sixth consecutive year, Bradesco was selected as a part of
the Dow Jones Sustainability Index 2011, a select list prepared by
the New York Stock Exchange comprising companies with the best
sustainable development practices.
-- Ranked 4th in the "World's Greenest Companies" list prepared by
Newsweek magazine, made up of companies with the best social and
environmental responsibility practices in the world, becoming the
only Brazilian company to hold position among the top 15.
-- The only financial institution to stand out in the "Best Companies
for Shareholders 2011" award, among companies with a market
capitalization greater than R$15 billion (Capital Aberto magazine);
-- For the twelfth consecutive year, Bradesco was one of the "100
Best Companies to Work for in Brazil" (Epoca magazine);
-- The Best Financial Institution to Work for in Brazil (Guia Voce
S/A Exame - "The Best Companies to Work for 2011");
-- For the fifth consecutive time, Grupo Bradesco Seguros leads the
ranking of Brazilian insurers, in the 2011 edition (Valor 1000
Yearbook);
-- Grupo Bradesco Seguros stood out in the As Melhores da Dinheiro
yearbook, in the "Insurance and Pension Plan" and "Health" categories
(IstoE Dinheiro magazine); and
-- Grupo Bradesco Seguros, the largest insurance conglomerate in
Brazil, was recognized by the 2011 edition of Maiores e Melhores
yearbook (Exame magazine)
21. With regards to sustainability, Bradesco divides its actions into
three pillars: (i) Sustainable Finances, with a focus on banking
inclusion, social and environmental variables for loan approvals and
offering social and environmental products; (ii) Responsible
Management, focused on valuing professionals, improving the workplace
and adopting eco-efficient practices; and (iii) Social and
Environmental Investments, focused on education, the environment,
culture and sports. The highlight in this area is Fundacao Bradesco,
which has been developing an extensive social and educational program
that operates 40 schools throughout Brazil. In 2011, a forecasted
budget of R$307.994 million will help serve more than 526 thousand
people, 111 thousand of which through its own schools, in Basic
Education, from Kindergarten to High School and Vocational Training -
High School Level; Education for Youth and Adults; and Preliminary
and Continued Education. In the Virtual School (Fundacao Bradesco's
e-learning portal), at the CIDs (Digital Inclusion Centers) and
through other programs, like Educa+Acao, over 415 thousand people
will be served. The more than 50 thousand Basic Education students
receive uniforms, school supplies, meals and medical and dental
assistance free of charge. For 54 years, Fundacao Bradesco has
provided more than 2 million students with quality formal education
free of charge, who, together with participants in in-class and
distance courses, bring the number of participants to over 4 million
people.
(1) According to non-recurring events described on page 8 of this Report on Economic and Financial Analysis; (2) Excludes mark-to-market effect of available-for-sale securities recorded under Shareholders' Equity; (3) R$105.792 billion considering the closing price of preferred shares (most traded share); (4) Includes sureties and guarantees, letters of credit, advances of credit card receivable, co-obligation in loan assignment (receivables-backed investment funds and mortgage-backed receivables), co-obligation in rural loan assignment, and operations with Credit Risk - Commercial Portfolio, which includes debentures and promissory notes; (5) Accumulated over 12 months; and (6) Banco24Horas ATMs + ATM terminals shared among Bradesco, Banco do Brasil and Banco Santander. (7) Support Rating is an assessment of possible support for a company given by its shareholders or by official authorities in times of crisis.
CONTACT:
Mrs. Ivani Benazzi de Andrade
Phone: +011-55-11-2178-6218
e-mail: 4823.ivani@bradesco.com.br
or Mr. Carlos Tsuyoshi Yamashita
Phone: +011-55-11-2178-6204
e-mail: 4823.carlos@bradesco.com.br
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