earnings
operational performance
1Q24
recurring net income
R$ 4.2 bn
46.3% | 1.6% |
1Q24 vs. 4Q23 (q/q) | 1Q24 vs. 1Q23 (y/y) |
ROAE 10.2%
Improvement of ALL in retail and wholesale
Credit growth in all segments
Gross Client NII reflects a less risky mix, better client quality, and challenges in SME
Robust Control of Operating Expenses
Improvement in the over 90 days delinquency ratio in all segments
Insurance Group's solid performance
2
loan portfolio
1Q24
R$889.9 bn
1.4% (q/q) 1.2% (y/y)
inflection of the portfolio curve
% 12M growth
+5.4
+1.6 | +1.2 | |||||
-0.1 | -1.6 | |||||
Mar23 | June | Sept | Dec | Mar24 |
average daily production
Non-earmarked portfolio* (1Q24 x 1Q23)
Total 18 %
Individuals 33 % Companies 15 %
*Not including cards
individuals | R$372.6 bn | |||
1.9% (q/q) 2.0% (y/y) | ||||
payroll-deductible loans | personal loans | |||
2.1% (q/q) | 4.5% (y/y) | 10.1% (q/q) | 1.8% (y/y) | |
real estate | vehicles | |||
1.8% (q/q) | 5.8% (y/y) | 0.2% (q/q) | 4.8% (y/y) | |
credit card | rural credit | |||
4.1% (q/q) | 4.5% (y/y) | 8.2% (q/q) | 17.1% (y/y) | |
R$517.4 bn | 1.1% (q/q) | 0.7% (y/y) | ||
companies | LC | R$345.7 bn | 0.5% (q/q) | 1.6% (y/y) |
SME | R$171.7 bn | 2.3% (q/q) | 1.2% (y/y) |
3
performance of credit vintages
individuals mass-market
Base 100 = 2019 Average
129
102 | 103 | 2019 Average Production | ||||||
81 | 83 | 77 | 79 | |||||
75 | ||||||||
71 | ||||||||
70 | 63 | |||||||
61 | 61 | 59 | ||||||
114 | 128 | 102 | 97 | 83 | 87 | 78 | 81 | 74 | 82 | 105 | 98 | 104 | 102 | 88 | 113 | 103 | 110 | ||||||||||||||||
mar | jul | nov | Jan24 | mar | |||||||||||||||||||||||||||||
2Q22 | 3Q | 4Q | Jan23 | feb | apr | may | june | aug | sept | oct | dec | feb | |||||||||||||||||||||
Production | Over30 Mob4 | ||||||||||||||||||||||||||||||||
Products Group | Production | |||||||
1Q24 vs. 1Q23 | ||||||||
Payroll-deductible Loans | 46% | |||||||
Installments | 18% | |||||||
Financing | 12% | |||||||
Cards | -14% | |||||||
Revolving | 87% | |||||||
Total | 25% | |||||||
Over 90 days delinquency(%) | | ||||||||
Individuals (total) | 6.3 | 6.7 | ||||||
5,95.5 | ||||||||
4.3 | 4.8 | 4.4 | ||||||
3.5 | ||||||||
Peak of delinquency | ||||||||
Mar19 June Sept Dec Mar20 June Sept Dec Mar21 June Sept | Dec Mar22 June Sept Dec Mar23 | June Sept Dec Mar24 |
- 25% production growth (1Q24 vs. 1Q23)
- 37% improvement in vintages quality compared to the 2019 average
- Portfolio grows again and Over90 has been falling since Jun23
- Advancements in models and algorithms, allowing for the construction of more robust credit strategies
4
performance of credit vintages
companies mass-market
Base 100 = 2019 Average
122 | 119 | 120 | |
95 | 102 | 2019 Average Production | |
89 |
71
63
49 48 54 53
42 42
128 | 126 | 94 | 78 | 69 | 80 | 58 | 65 | 58 | 63 | 62 | 61 | 83 | 82 | 63 | 74 | 75 | 84 | |||||||||||||||||
2Q22 | 3Q | 4Q | Jan23 | feb | mar | apr | may | june | jul | aug | sept | oct | nov | dec | Jan24 | feb | mar | |||||||||||||||||
Production | Over30 Mob4 | |||||||||||||||||||||||||||||||||
Products Group | Production | |||||||||
1Q24 vs. 1Q23 | ||||||||||
Installments | 52% | |||||||||
Discounts | 36% | |||||||||
Financing | -22% | |||||||||
Cards | -10% | |||||||||
Revolving | 22% | |||||||||
Total | 3% | |||||||||
Over 90 days delinquency (%) | | ||||||||||
SME (total) | 6.2 | 7.2 | 6,8 | |||||||
6.4 | ||||||||||
4.5 | ||||||||||
4.2 | 3.6 | |||||||||
2.6 | ||||||||||
Peak of delinquency | ||||||||||
Mar19 June Sept Dec Mar20 June Sept Dec Mar21 June Sept Dec Mar22 | June Sept Dec Mar23 | June Sept | Dec Mar24 |
- 3% production growth (1Q24 vs. 1Q23)
- 58% improvement in vintages quality compared to the 2019 average
- Stabilization of the portfolio to fall and reduction of over 90 days NPL since Sep23
- Advancements in models and algorithms, allowing for the construction of more robust credit strategies
5
net interest income
1Q24
R$15.2 bn
6.1% (q/q) 9.0% (y/y)
expanded portfolio mix (%)
Mar24 Dec23 Mar23 | Mar24 vs. | |||
Mar23 (p.p.) | ||||
Individuals | 41.9 | 41.7 | 41.5 | +0.4 |
Payroll-deductible Loans | 10.5 | 10.5 | 10.2 | +0.3 |
Real Estate Financing | 10.2 | 10.2 | 9.8 | +0.4 |
Credit Card | 7.8 | 8.2 | 8.2 | -0.4 |
Personal Loans | 6.6 | 6.1 | 6.6 | - |
Vehicle | 3.7 | 3.8 | 4.0 | -0.3 |
Rural Loans | 2.0 | 1.9 | 1.8 | +0.2 |
Other | 1.0 | 1.0 | 1.0 | - |
LC | 38.8 | 39.2 | 38.7 | +0.1 |
SME | 19.3 | 19.1 | 19.8 | -0.5 |
market NII | 696 | 630 | |||||||
R$0.6 bn | R$ million | 23 | |||||||
1Q23 | 2Q | 3Q | 4Q | 1Q24 | |||||
(312) | (96) | ||||||||
client NII | R$ 14.5 bn | ||||||||
5.9% (q/q) | 14.4% (y/y) | ||||||||
Gross Client NII / Gross Spread (%) | Net Client NII / Net Spread (%) | ||||||||
9.9 | 9.7 | 9.1 | 8.8 | 8.5 | |||||
R$ billion | 4.2 | 3.6 | 3.8 | 2.7 | 3.8 | ||||
17.0 | 16.7 | 15.8 | 15.4 | ||||||
14.5 | R$ billion | ||||||||
7.4 | 6.3 | 6.6 | 4.9 | 6.7 | |||||
1Q23 | 2Q | 3Q | 4Q | 1Q24 | 1Q23 | 2Q | 3Q | 4Q | 1Q24 |
Interest Sensitivity - Δ NII 12 months (-100 bps) | 1Q24 | R$1.3 bn |
6
loan indicators
Over 90 days delinquency - %
6.3 | 7.0 | 7.2 | 6.8 | ||||||||
6.4 | |||||||||||
6.2 | 6.7 | 6.6 | 5.9 | 5.5 | |||||||
5.1 | 5.7 (1) | 5.6 (2) | 5.1 | (3) | 4.8 | (4) | |||||
0.2 | 0.7 (5) | 0.6 (6) | 0.6 (7) | 0.6(8) | |||||||
Mar23 | June | Sept | Dec | Mar24 | |||||||
Individuals | Micro, Small and Medium-Sized Enterprises | Large Corporates | Total | ||||||||
Coverage Ratio - %
278 | 264 | 260 | ||
244 | 239 | |||
182 | 164 | 155 | 165 | 164 |
99 | 92 | 87 | 86 | 85 |
Mar23 | June | Sept | Dec | Mar24 |
Coverage Ratio over 90 Days - Excluding operations 100% provisioned
Coverage Ratio over 90 Days
Coverage Ratio over 90 Days + Renegotiation
NPL Creation | 114% | 98% | ||||
81% | 90% | 92% | ||||
1.9% | 1.8% | 1.6% | 1.4% | |||
1.3% | ||||||
R$ billion | ||||||
12.0 | 11.6 (9) | 10.0 | (10) | |||
8.6 | (12) | |||||
8.1 (11) |
1Q23 | 2Q | 3Q | 4Q | 1Q24 | ||
NPL Creation - 90 days | Gross ALL Expenses / NPL Creation - 90 days | NPL Creation Ratio | ||||
Considering large corporate client 100% provisioned: : (1) 5.9%. (2) 6.1%. (3) 5.2%. (4) 5.0%. (5) 1.9%. (6) 3.2%. (7) 1.1%. (8) 1.5%. (9) R$ 13.0 bi. (10) R$ 11.7 bn. (11) R$ 8.6 bn and (12) R$ 9.7 bn
7
expenses with expanded ALL
1Q24
R$7.8 bn
25.8% (q/q) 17.9% (y/y)
Mass-market
R$ billion
4.3 | 4.8 | 4.2 |
R$ billion | ||
9.5 | 10.3 | 9.2 |
1Q23 | 2Q | 3Q |
13.7% (q/q) 22.3% (y/y)
4.83.5
ALL/Portfolio annualized (%)
10.5
7.8
4Q1Q24
Efficiency in collection
9.4
10.1
8.88.5
7.3
1Q23 | 2Q | 3Q | 4Q | 1Q24 |
New vintages improvement quality
Performance of companies mass-Market portfolios
Product mix
8
fee and commission income
1Q24 R$8.9 bn 1.8% (q/q) 1.3% (y/y)
consortia
R$0.6 bn 6.8% q/q 13.7% y/y
Market share: Vehicle 25.1% | Real estate 14.0% | Feb24
loan operations
R$0.6 bn 2.0% q/q 10.4% y/y
Average daily production companies: +15% | (1Q24 vs. 1Q23)
checking account
R$1.7 bn 0.7% q/q 9.6% y/y
38.3 mi account holders
asset management
R$0.8 bn 0.9% q/q 4.2% y/y
Market Share: 16.3% | mar24
Best Bank to invest in for the 3rd time (Ranking MBPI. IstoÉ Dinheiro)
card income
R$3.7 bn 2.2% q/q 2.7% y/y
Volume traded: R$80.5 billion | 1Q24
capital markets / financial advisory services
R$0.2 bn 32.8% q/q 41.4% y/y
BBI recognized by the 2024 sustainable finance awards
9
operating expenses
1Q24
R$13.4 bn
10.5% (q/q) 4.4% (y/y)
Footprint optimization with about 300 movements in 1Q24
We have completed the opening of 122 companies branches
38 thousand Bradesco Expresso points
personnel + | 5.1% (q/q) | 3.5% (y/y) |
administrative | ||
personneladministrative
2.3% (q/q) 5.6% (y/y) | 8.2% (q/q) | 1.2% (y/y) |
quarterly ER improvement: 51.1% 2.3 p.p. (q/q)
10
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Banco Bradesco SA published this content on 02 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 May 2024 11:51:44 UTC.