Banco Bradesco Sa American Depositary Shares (BBD) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. My presentation will be briefer when compared to our last earnings release presentation. And after the presentation, we will go straight into the Q and A session. It's a great pleasure to be with you once again and thank you for joining us today. I'll start by presenting the numbers and then I will also mention a few issues that have raised questions from colleagues on the sell side and also buy side, questions that were posted to our IR team. So I'll start from what you saw since yesterday because the presentation was available to all of you. Our recurring net income in the first quarter of twenty twenty six was BRL6.8 billion, up by 16.1% year on year and 4.5% quarter on quarter delivering ROAE of 15.8%. This is a reminder, in the last quarter of twenty twenty five, our ROAE was 15.2%, so that means that we were up by 0.6 percentage points vis a vis our recurring net So what drove this recurring net income? I mean total revenues grew 14% year over year and this is the main driver profitability and cost to income ratio improvement, not only this quarter, but certainly this will lead to improved results throughout the year. I've been talking about moderate appetite, and I've been referring to that for several quarters with a more conservative bias, but that doesn't mean that our appetite will decrease when it comes to growing our loan portfolio. We will continue to grow. Certain ratings and maybe we will not do certain ratings or maybe we may not want to go to certain segments or and we want to have secure performance. And then I will show you later on our structure operations, I will talk about the market and so on. Mean cost of risk has increased. I'll certainly mention that further on. But there was a very specific wholesale case because this is what...