Banco Bradesco Sa American Depositary Shares (BBD) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, everyone. I am Marcelo Noronha, and I am here at the headquarters of Banco Bradesco, at Cidade de Deus, on a Thursday, May 8, 2025. It is now precisely 10.31. It is a pleasure to be here with you to disclose Bradesco earnings in the first quarter of 2025. So thank you very much for all of you who are joining us. So I'll start speaking about our net income. You probably all had an opportunity to read the earnings release last night. Almost 5.9 billion recurring net income, growing more than 39% year-on-year and 8.6% quarter-on-quarter. with this level of ROAE of 14.4%. It is obvious that this result, the net income, is but a consequence. I will speak about the causes. The main one, the main driver being our revenue in three different pillars, which I will comment on momentarily, and with a very safe portfolio Intensive use of technology helping to increase our productivity and of course with a strong result from the insurance group. So these are the pillars of revenue which are also a consequence. In a moment, I will speak about what's driving each one of these pillars. But total revenue was 32 billion and growing 15% year-on-year. We have this absolute growth seen on the chart below. So total net interest... 13.7% increase year-on-year, 1.4% increase quarter-on-quarter. Fee and commission income increasing 10.2% and insurance growing 32.7% year-on-year. So we get to the first item or topic which is driving our NII and our NII net of revisions. So expended loan portfolio totaled 1 trillion BRL. It's grown 4.9% year-on-year and 2.4% quarter-on-quarter. Excluding John Deere Bank, the growth would be still significant, 11%. And we can see in the charts the level of growth that we had in each one of these segments of the loan book. Individuals, 16.2% with a rela...