BANCO BRADESCO - 9M08 Earnings Release
BANCO BRADESCO - 9M08 Earnings Release
SAO PAULO, Brazil, Oct. 27 /PRNewswire-FirstCall/ -- We present below
Bradesco's (Bovespa: BBDC3, BBDC4; Latibex: XBBDC; NYSE: BBD) main figures for
the nine-month period of 2008. Our Report on Economic and Financial Analysis
containing the complete Financial Statements is available on the investor
relations website http://www.bradesco.com.br/ir .
1. Net Income in the nine-month period of 2008 stood at R$6.015 billion
(up 3.4% in relation to the net income of R$5.817 billion in 9M07),
corresponding to EPS of R$1.96 and to a return of 26.3% on Average
Shareholders' Equity (1).
2. Net Income comprised R$3.917 billion from financial activities, which
represented 65% of the total, and R$2.098 billion from Insurance and Private
Pension Plans activities, which accounted for 35% of the Net Income.
3. Market Capitalization on September 30, 2008 reached R$88.777 billion.
4. Total Assets stood in September 2008 at R$422.706 billion, an increase
of 33.1% in relation to September 2007. Annualized return on average Assets
reached 2.1%, vis-a-vis 2.7% in the same period of 2007.
5. The Expanded Loan Portfolio (2), stood at R$197.250 billion, 40.8%
higher than a year ago. Loans to individuals totaled R$69.984 billion (up
28.7%), while loans to corporate clients totaled R$127.266 billion (up 48.5%).
6. Total Funds Raised and Managed reached R$571.740 billion, an increase
of 26.3% vis-a-vis the R$452.698 billion as of September 2007.
7. Shareholders' Equity stood at R$34.168 billion, a 17.0% growth y-o-y.
The Capital Adequacy Ratio stood at 15.6%, under the New Basel Capital Rules
(Basel II).
8. Remuneration to shareholders in the form of Interest on Shareholders'
Capital and Dividends paid and provisioned in the period totaled R$2.072
billion, equivalent to 34.4% of the Net Income.
9. The Efficiency Ratio calculated over a 12-month period stood at 41.6%
(41.8% in September 2007).
10. In the period, investments in infrastructure, information technology
and telecommunications amounted to R$1.839 billion, up 23.9% y-o-y.
11. Taxes and contributions, including social security, paid or
provisioned in the period, stemming from the main activities developed by the
Bradesco Organization, totaled R$4.258 billion, equivalent to 71% of the Net
Income.
12. Bradesco's distribution is Brazil's largest private customer service
network, with 3,235 branches, 28,092 ATMs in the Bradesco Dia&Noite
(Day&Night) Network, 4,850 ATMs in the Banco24Horas (24HourBank) Network,
14,562 Bradesco Expresso outlets, 5,924 Banco Postal branches, 3,648
mini-branches and 216 branches of Finasa Promotora de Vendas.
13. Awards and Acknowledgments received in the third quarter of 2008:
-- Leader in Sustainability and Corporate Governance in Latin America
(Management & Excellence);
-- Most Valuable Brand in Brazil (BrandFinance/ Gazeta Mercantil);
-- Best Company in Human Resources (Epoca magazine);
-- Winner of the Environmental Entity Award (ADVB-SP)
-- Best Insurance Company in Latin America (World Finance).
14. August 18, Bradesco signed an agreement with The Bank of Tokyo
Mitsubishi UFJ, Ltd. establishing an operational alliance to manage and
distribute investment funds, through their respective asset management
companies BRAM - Bradesco Asset Management S.A. Distribuidora de Titulos e
Valores Mobiliarios and MUAM - Mitsubishi UFJ Asset Management Co. Ltd.
15. On August 27, Bradesco joined the Connector network, comprised by 13
financial institutions, becoming the first Latin American bank to join the
network. This alliance will allow our corporate clients to use cash management
services in the 30 countries where these institutions operate.
16. On September 3, the Brazilian Central Bank approved the 'Private
Instrument of Commitment of Merger of Shares and Other Covenants,' aiming at
the acquisition of all capital stock of Agora Corretora de Titulos e Valores
Mobiliarios S.A by Banco Bradesco BBI S.A.
17. On September 4, Bradesco was again included in the Dow Jones
Sustainability World Index (DJSI), indicator of the New York Stock Exchange
that lists the world's best companies in terms of good corporate governance
practices, transparency, ethics and social-environmental responsibility.
18. Socially, aiming to contribute to better education in Brazil, for over
51 years Bradesco has been developing a broad social and educational program
through Fundacao Bradesco, maintaining 40 schools mainly located in regions of
acute socio-economic poverty throughout all Brazilian states and Brasilia, the
Federal District. For this year, the forecasted budget of R$220.069 million
will allow Fundacao Bradesco to serve over 411,000 people.
19. Derivative Operations Indexed to FX Variations:
a. Bradesco's Position: these positions assumed with the purpose of
hedging Bradesco's operations, mainly investments abroad (branches and
subsidiaries). It is worth mentioning that these operations are assumed with
speculative purposes to match assets and liabilities;
b. Clients Position: Bradesco does not carry out operations with
exotic options, called target forward, or any other type of leveraged
operations. We point out that Bradesco carries out only traditional operations
with clients who intend to manage its foreign currency positions. On October
23, 2008, Bradesco had amounts receivable from its 206 clients in the amount
of R$973 million and amounts payable to its 110 clients in the amount of R$655
million, and the higher amount receivable is R$142 million and higher amount
payable is R$109 million.
(1) Excludes the mark-to-market effect of Available-for-Sale Securities
recorded in Shareholders' Equity
(2) It considers Sureties, Guarantees, credit cards receivables (cash
purchases and credit purchases from storeowners) and loan granting (FIDC)
Milton Vargas
Executive Vice-President and Investor Relations Officer
Domingos Figueiredo de Abreu
Managing Director
Jean Philippe Leroy
Department Director
Phone: (55 11) 2178-6201
Institutional Area
Phone: (55 11) 2178-6218
Individuals Area
Phone: (55 11) 2178-6217
e-mail: investors@bradesco.com.br
www.bradesco.com.br/ir
SOURCE Banco Bradesco
