Banco Bradesco (BBDC4) Q1 2026 earnings summary

Executive summary

• Recurring net income reached R$6.8 billion in 1Q26, up 16.1% year-over-year and 4.5% quarter-over-quarter, with ROAE at 15.8%.

• Revenues increased 14.0% year-over-year, driven by strong net interest income and insurance performance.

• Transformation initiatives accelerated, including broader GenAI adoption, productivity gains, digital client base up 47% from 4Q25, and the launch of Bradsaúde consolidating healthcare assets.

• Asset quality remained stable, with a higher share of secured lending, controlled delinquencies, and reduced restructured loans.

• Shareholders' equity stood at R$179.8 billion, and market value at R$189.6 billion.

Financial highlights

• Total revenue for 1Q26 was R$36.9 billion, up 14.0% year-over-year and 4.2% quarter-over-quarter.

• Net interest income reached R$20.1 billion, up 16.4% year-over-year.

• Fee and commission income was R$10.4 billion, up 6.2% year-over-year but down 6.4% quarter-over-quarter.

• Insurance, pension, and capitalization net income was R$2.8 billion, up 13.0% year-over-year.

• Expanded loan portfolio reached R$1,090 billion, up 8.4% year-over-year, with loans to individuals up 9.5% and to companies up 7.6%.

Outlook and guidance

• Commitment to gradual and sustained net income growth, with a conservative risk approach and focus on collateralized lending.

• Continued acceleration of digital transformation and technology-driven competitiveness.

• Ongoing commitment to sustainable finance, with 89% of the R$450 billion corporate target for socio-environmental allocation met.

• Management projects 1.5% GDP growth for Brazil in 2026, below the 2.3% seen in 2025.

• Central Bank has begun an interest rate cutting cycle, with further reductions expected.