MEDIA RELEASE PR41923
Banco Bradesco Announces 9M10 Earnings Results
SAO PAULO, Oct. 28 /PRNewswire-AsiaNet/ --
The main figures obtained by Bradesco (NYSE: BBD; BOVESPA: BBDC4; Latibex: XBBDC)
in the first nine months of 2010 are presented below:
1. Adjusted Net Income(1) in the period was R$7.120 billion (an increase
of 23.9% from R$5.747 billion in the same period of 2009),
corresponding to earnings per share of R$2.38 accrued over twelve
months and Return on Average Shareholders' Equity(2) of 22.5%.
2. Adjusted Net Income was composed of R$4.995 billion from financial
activities, which represented 70% of the total, and R$2.125 billion
from insurance, private pension and savings bond operations, which
accounted for 30% of the total.
3. On September 30, 2010, Bradesco's market capitalization stood at
R$114.510 billion(3), while the value of preferred shares rose by
19.6%(4) in the last twelve months.
4. Total Assets stood at R$611.903 billion in September 2010, an increase
of 26.0% from the balance in the same period in 2009. Return on
average assets was 1.7%.
5. The Total Loan Portfolio(5) stood at R$255.618 billion in September
2010, up 18.6% from the same period in 2009. Operations with
individuals totaled R$92.905 billion (up 23.0%), while operations with
companies totaled R$162.713 billion (up 16.2%).
6. Total Assets under Management stood at R$838.455 billion, an increase
of 24.3% from September 2009.
7. Shareholders' Equity was R$46.114 billion in September 2010,
increasing by 18.6% from the balance in the same period a year
earlier. The Capital Adequacy Ratio (Basel II) stood at 15.7% in
September 2010, 13.5% of which under Tier I Capital.
8. In the first nine months of 2010, Interest on Shareholders' Equity and
Dividends in the amount of R$4.160 billion were paid and provisioned,
of which R$2.408 billion were related to income generated in the
period (R$938 million in interim and monthly dividends paid and
R$1.470 billion provisioned) and R$1.752 billion to income from fiscal
year 2009 (R$43 million monthly paid on January 4, 2009 and additional
payments of R$1.709 billion paid on March 9, 2010).
9. The Efficiency Ratio(6) stood at 42.5% in September 2010 (40.9% in
September 2009) and the "adjusted-to-risk" ratio stood at 53.3% in
September 2010 (55.8% in September 2009).
10. Insurance Written Premium, Pension Plan Contributions and Savings
Bonds Income totaled R$22.056 billion in the first nine months of
2010. Technical provisions stood at R$82.363 billion, equal to 31.1%
of the Brazilian insurance market (period: August/10).
11. Investments in infrastructure, information technology and
telecommunication amounted to R$2.694 billion in the first nine months
of 2010, growth of 8.1% compared to the same period in 2009.
12. In the nine month period of 2010, taxes and contributions, including
social security, paid or provisioned, amounted to R$10.766 billion, of
which R$4.398 billion corresponded to taxes withheld and collected
from third parties, and R$6.368 billion corresponded to taxes levied
on the activities of Bradesco Organization is active in the first nine
months of 2010, equal to 89.4% of Adjusted Net Income.
13. Banco Bradesco has an extensive distribution network in Brazil, with
6,374 Branches, PAB mini-branches and PAAs (3,498 Branches, 1,233 PABs
and 1,643 PAAs). Customers can also use 1,559 PAEs, 31,759 ATMs in the
Bradesco Dia&Noite network, 24,887 Bradesco Expresso service points,
6,194 Banco Postal (Postal Bank) branches and 9,248 ATMs in the
Banco24Horas (24HourBank) network.
14. In the first nine months of 2010, employee payroll plus charges and
benefits totaled R$5.717 billion. Social benefits provided to the
92,003 employees of the Bradesco Organization and their dependents
amounted to R$1.332 billion, while investments in training and
development programs totaled R$68.286 million.
15. In August 2010, Odontoprev S.A. and its parent companies Bradesco
Seguros S.A. and ZNT Empreendimentos, Comercio e Participacoes Ltda.
entered into a Memorandum of Understanding with BB Seguros
Participacoes S.A. to start a strategic alliance for the development
and sale of dental insurance.
16. In August 2010, Bradesco and Banco do Brasil entered into a Memorandum
of Understanding with Caixa Economica Federal seeking the
participation of the latter in a company to be formed in order to
manage "Elo," the new Brazilian brand of credit, debit and prepaid
cards to be offered to account holders and non-account holders of the
respective banks.
17. In September 2010, Bradesco entered into an agreement with CPM Braxis
and its shareholders to transfer the controlling interest in CPM
Braxis to Capgemini S.A., through which it acquired 55% of shares
issued by CPM Braxis.
18. Main Awards and Recognitions in the third quarter of 2010:
-- Bradesco received the Escore GAMMA 7 awarded by Standard & Poor's
Governance Services for its strong corporate governance standards.
The highest Escore GAMMA Governance rating ever awarded worldwide
was a 7+.
-- Bradesco continued as a component of the Dow Jones Sustainability
Index (DJSI) of the New York Stock Exchange in 2010, an indicator
that lists the best companies worldwide in terms of Corporate
Governance and social and environmental responsibility practices;
-- Bradesco was chosen one of the 100 Best Companies of the Year in
the "2010 Organizational Human Development Indicator Award";
-- Grupo Bradesco de Seguros e Previdencia was a general leader in the
annual Valor 1000 in the following rankings: Insurance, Life and
Pension Plan and Health (Valor 1000 magazine);
-- For the 6th time, Bradesco Saude received the Estadao RH Top of
Mind award in the "health insurance" category (Estado de Sao Paulo
newspaper / Felix Editora);
-- Organizacao Bradesco was chosen as the Best Bank in HR and Social
Responsibility, Best Insurance Company and Best Health Company in
the annual publication As Melhores da Dinheiro (IstoE Dinheiro
magazine); and
-- For 11 years, Bradesco has been one of the "100 Best Companies to
Work for in Brazil (Epoca magazine)."
19. In relation 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 the offering
of 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 for 53
years has been developing a broad social and educational program that
operates 40 schools across Brazil. In 2010, a R$268.010 million
budget will provide over 660 thousand service events, of which 112
thousand were provided to students in its own schools. In addition,
the 50 thousand elementary education students are also provided with
uniforms, school supplies, meals and health and dental assistance, all
free of charge. Over 550 thousand students will be served through
the Virtual School, its e-learning portal, through the Digital
Inclusion Centers (CIDs) and through programs conducted under
strategic partnerships, like Educa+Acao.
(1) According to the non-recurring events described on page 08 of the Report on
Economic and Financial Analysis; (2) Excludes the effects from asset valuation
adjustments registered under shareholders' equity; (3) R$127.6 billion considering
the total number of shares (less treasury shares) x closing quote for preferred
shares on last day in period (most net share); (4) Considering the reinvestment of
dividends/interest on shareholders' equity; (5) Includes sureties and guarantees,
advances of credit card receivables and credit assignments (receivables-backed
investment funds and mortgage-backed receivables); and (6) Accumulated over 12
months.
Contact:
Mrs. Ivani Benazzi de Andrade, phone: (55 11) 2178-6218 or
Mr. Carlos Tsuyoshi Yamashita, phone: (55 11) 2178-6204.
SOURCE: Banco Bradesco S.A.
CONTACT: Mrs. Ivani Benazzi de Andrade
+55-11-2178-6218
or Mr. Carlos Tsuyoshi Yamashita
+55-11-2178-6204
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