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Bank Bradesco SA ADR BBD Stock Quote

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Morningstar‘s Stock Analysis BBD

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Banco Bradesco’s Healthy Reserve Levels Remain Intact in 2022, but Uncertainty Remains

Michael Miller Equity Analyst

Business Strategy and Outlook

| Michael Miller |

We believe macroeconomic and geopolitical uncertainty cast a shadow on Banco Bradesco and the entire Brazilian banking industry. While the largest problem facing Brazil has historically been its ballooning pension obligations, which represented 13% of its GDP in 2019 and nearly half of the government's budget, the Bolsonaro government was finally able to pass a bipartisan reform in the back half of 2019. While the reform is encouraging, much of the benefit has already been undone through heavy government spending in 2020 and 2021. The residual drag from bloated pension obligations and coronavirus stimulus measures will be acutely felt moving forward, with gross public debt/GDP rising from 52% in 2013 to 99% by the end of 2020.

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Key Statistics BBD

Company Profile BBD

Business Description

Banco Bradesco is Brazil's second largest private bank, with about 15% of deposits, and the largest insurance provider in Brazil, with roughly 20%-25% market share. The bank is majority controlled by the Bradesco foundation--a private non-profit institution focused on education. Banking provides roughly 70% of profits, while the insurance segment contributes the remaining 30%. The bank is also a major asset manager with high-single-digit market share. In 2016, Bradesco acquired the Brazilian operations of HSBC.

Contact
Cidade de Deus S/N, Vila Yara
Osasco, SP, 06029‑900, Brazil
T +55 1136844011
Industry Banks - Regional
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 87,274

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