Banco Bradesco Announces Q2 And Half Year Highlights

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29th July 2010, 08:42am - Views: 1391






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MEDIA RELEASE PR40611


Banco Bradesco Announces Q2 and Half Year Highlights


SAO PAULO, July 29 /PRNewswire-AsiaNet/ --


    The main figures obtained by Bradesco in the first half of 2010 are presented

below:


    1.  Adjusted Net Income(1) in the period of R$4.602 billion (up 16.4% from 

        R$3.952 billion in the first half of 2009), corresponding to R$2.19 

        per share in the last 12 months and Return on Average Equity(2) of 

        22.8%.

    2.  Adjusted Net Income was composed of R$3.198 billion from financial 

        activities, which represented 69% of the total, and R$1.404 billion 

        from insurance, private pension and savings bond activities, which 

        accounted for 31% of the total.

    3.  On June 30, 2010, Bradesco's market capitalization stood at R$87.9 

        billion(3), while the price of preferred shares rose by 10.3%(4) in 

        the last 12 months.

    4.  Total Assets stood at R$558.100 billion in June 2010, an increase of 

        15.7% from the balance in the same period of 2009, while Return on 

        Average Assets was 1.7%.

    5.  The Total Loan Portfolio(5) stood at R$244.788 billion in June 2010, 

        up 15.0% from the same period in 2009. Operations with individuals 

        totaled R$89.648 billion (up 20.7%), while operations with corporate 

        clients totaled R$155.141 billion (up 12.0%).

    6.  Total Funding and Assets under Management stood at R$767.962 billion, 

        an increase of 18.6% from June 2009.

    7.  Shareholders' Equity was R$44.295 billion in June 2010, up 18.8% from 

        a year earlier. Meanwhile, the Capital Adequacy Ratio (Basel II) stood 

        at 15.9%, of which 13.9% under Tier I Capital.

    8.  In the first half of 2010, R$3.290 billion in Interest on 

        Shareholders' Equity and Dividends was paid to shareholders and 

        provisioned, of which R$1.538 billion was related to the net income in 

        the period (R$792 million as monthly and interim dividends and R$746 

        million provisioned) and R$1.752 billion was related to fiscal year 

        2009 (R$43 million paid on January 4, 2010 and an additional payment 

        of R$1.709 billion made on March 9, 2010).

    9.  The Efficiency Ratio(6) stood at 42.0% in June 2010 (41.5% in June 

        2009).

    10. Insurance Premiums Written, Social Security Contributions and

        Savings Bond Revenue reached a combined total of R$14.359 billion in 

        the first six months of 2010. Technical provisions stood at R$79.308 

        billion, representing 31.4% of Brazil's insurance industry (period: 

        May 2010). Bradesco's Insurance Group serves nearly 34 million 

        clients, participants and insured individuals.

    11. Investments in infrastructure, information technology and 

        telecommunications amounted to R$1.707 billion in the first half of 

        2010, up 5.6% from the same period of 2009.

    12. In the first six months of 2010, taxes and contributions, including 

        social security, paid or provisioned, amounted to R$7.087 billion, of 

        which R$3.203 billion corresponded to taxes withheld and collected 

        from third parties, and R$3.884 billion to taxes levied on the 

        activities of Bradesco Organization in the first half of 2010, 

        equivalent to 84.4% of Adjusted Net Income.

    13. Banco Bradesco has an extensive customer service network throughout 

        Brazil, with 6,283 Branches, PAB mini-branches and PAAs (3,476 

        Branches, 1,215 PABs and 1,592 PAAs). Customers can also use 1,565 

        PAEs, 31,387 ATMs in the Bradesco Dia&Noite (Day&Night) network, 

        23,190 Bradesco Expresso service points, 6,177 Banco Postal branches 

        and 8,379 ATMs in the Banco24Horas network.

    14. In the first half of 2010, salaries plus payroll charges and benefits 

        totaled R$3.682 billion. Benefits provided to the 89,204 employees of 

        Bradesco Organization and their dependents amounted to R$841.433 

        million, while investments in training and development programs 

        totaled R$37.825 million.

    15. In April 2010, Bradesco and Banco do Brasil signed a Memorandum of 

        Understanding to enter into a partnership to manage a Brazilian brand 

        of credit, debt and prepaid cards for both account holders and 

        customers without accounts at the Bank, called "Elo," which will, 

        among other activities, also create new business opportunities for 

        private-label cards.

    16. In June 2010, Bradesco completed the acquisition of controlling 

        interest in Ibi Services S. de R.L. Mexico (Ibi Mexico) and RFS Human 

        Management S. de R.L., Ibi Mexico's subsidiary, for approximately 

        R$297 million. The transaction comprises a 20-year partnership with 

        C&A Mexico S. de R.L. (C&A Mexico).

    17. In July 2010, Bradesco concluded the acquisition of 2.09% of capital 

        in Cielo S.A. for R$431.7 million, and 10.67% of the capital in 

        Companhia Brasileira de Solucoes e Servicos - CBSS for R$141.4 

        million.

    18. Main Awards and Recognitions in the second quarter of 2010:

        -- Bradesco was the first financial institution to win the "Modern 

           Consumer Award of Excellence in Customer Service", in three 

           categories: Retail Bank, Premium Bank and Credit Cards (Consumidor 

           Moderno magazine / GKF);

        -- Grupo Bradesco de Seguros e Previdencia was the highlight in the 

           7th edition of the "Premio Segurador Brasil" (Brazilian Insurer 

           Award), receiving recognition in seven categories (Editora Brasil 

           Noticias);

        -- Bradesco is the largest private Brazilian group among the 100 

           largest companies on the planet (Ranking - Forbes 2000);

        -- Bradesco is the private company and financial institution with the 

           most valuable brand in Brazil, which was appraised at R$14.9 

           billion, based on a study conducted by the specialized consulting 

           firm BrandAnalytics/Millward Brown (IstoE Dinheiro magazine).

        -- Bradesco is the best stock fund manager according to a survey 

           conducted by Standard & Poor's (ValorInveste magazine); and

        -- The 2008 Bradesco Sustainability Report was the winner of the GRI 

           Reader's Choice Awards 2010 in the Most Effective Report Category 

           (Global Reporting Initiative).

    19. On the sustainability front, 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, focusing 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 more 

        than 50 thousand basic education students also receive, at no charge, 

        uniforms, school supplies, meals and health and dental assistance. 

        Over 550 thousand students will be served through the Virtual School, 

        its elearning portal, through the Digital Inclusion Centers (CIDs) and 

        through programs conducted under strategic partnerships, like 

        Educa+Acao.


Business Banking Banco Bradesco S.A. 3 image


    (1) According to the non-recurring events described on page 8 of the

Report on Economic and Financial Analysis; (2) Excludes the effects from

asset valuation adjustments registered under Shareholders' Equity; (3) R$96.1

billion based on the total number of shares (less treasury shares) x closing

quote for the preferred shares on last day in the period (most liquid share);

(4) Considering the reinvestment of dividends/interest on equity; and (5)

Includes Sureties and Guarantees, prepayment of credit card receivables and

loan assignment (FIDC and CRI); and (6) Last 12 months.



    Bloomberg: BBDE < GO >


    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, 

             phone: +55-11-2178-6218 


             or Mr. Carlos Tsuyoshi Yamashita, 

             phone: +55-11-2178-6204


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