Banco Bradesco (BBDC4) Q3 2025 earnings summary

Executive summary

• Recurring net income reached R$6.2 billion in 3Q25, up 2.3% quarter-over-quarter and 18.8% year-over-year, marking the seventh consecutive quarter of growth.

• Profitability continues to improve, with ROAE at 14.7%, up 2.3 p.p. year-over-year.

• Transformation initiatives and digital expansion are driving improved profitability, operational efficiency, and long-term competitiveness.

• Commercial traction remains strong, with stable delinquency indicators supporting ongoing business evolution.

• Revenues are growing, especially client net interest income, while operating expenses remain controlled.

Financial highlights

• Total revenue for 3Q25 was R$35.0 billion, up 3.0% quarter-over-quarter and 13.1% year-over-year.

• Net interest income reached R$18.7 billion, up 3.7% quarter-over-quarter and 16.9% year-over-year; client NII grew 4.8% quarter-over-quarter and 19.0% year-over-year.

• Fee and commission income totaled R$10.6 billion, up 2.8% quarter-over-quarter and 6.9% year-over-year.

• Insurance, pension, and capitalization bond revenues were R$5.7 billion, up 1.0% quarter-over-quarter and 13.0% year-over-year; insurance net income was R$2.5 billion, up 10.3% quarter-over-quarter and 6.5% year-over-year.

• Operating expenses were R$16.5 billion, up 3.7% quarter-over-quarter and 9.6% year-over-year.

Outlook and guidance

• 2025 guidance: expanded loan portfolio growth of 4% to 8%, NII net of provisions between R$37–41 billion, fee and commission income and operating expenses both expected to grow 5% to 9%, and insurance-related income to grow 9% to 13%.

• Transformation plan execution is accelerating, with continued focus on digitalization, footprint adjustments, and sustainable business financing.

• Commitment to decarbonization and socio-environmental financing, achieving 100% of the R$350 billion allocation target by September 2025.