Banco Bradesco Brazil Reports FY2024 Recurring Net Income of BRL 19.6 Billion, Up 20%

Banco Bradesco posted full-year 2024 recurring net income of BRL 19.6 billion, a 20 per cent increase on the prior year. The result came alongside a fourth-quarter return on equity of 12.7 per cent.

PROVISIONS BELOW FULL-YEAR GUIDANCE

Provisions for loan losses reached BRL 29.7 billion for the year, below the BRL 35–39 billion guidance range that Bradesco had set at the start of the period.

The default rate on loans overdue by more than 90 days fell to 4 per cent by year end, after Bradesco adopted more restrictive credit policies to control default, which peaked in terms of 90-day NPL in the second quarter of 2023.

CREDIT PORTFOLIO

Bradesco's total credit portfolio expanded 11.9 per cent year-on-year to BRL 981.7 billion.

For 2025, Bradesco guided to expanded loan portfolio growth of 4 to 8 per cent and NII net of provisions of BRL 37–41 billion.