Brazil’s Bradesco Profit Up 14.6% to US$1.4B
Brazil's Bradesco earned R$7.1 billion (US$1.4 billion) in the third quarter, in line with forecasts, while loans overdue 90 days rose to 4.6%. The post Brazil’s Bradesco Profit Up 14.6% to US$1.4B appeared first on The Rio Times .
Bradesco, a major Brazilian private bank, reported a 14.6% increase in profit to US$1.4 billion in the third quarter of 2026, meeting analysts' expectations. The bank's earnings grew 0.8% from the previous quarter and 14.6% compared to the same period last year. Despite the profit growth, the 90-day overdue loan rate increased to 4.6% from 4.3%, indicating a slowdown in the credit market and an uptick in customers struggling to make payments.
Bradesco's CEO, Marcelo Noronha, attributed the challenging credit environment to high interest rates and a slowing economy. The bank also revealed that it raised R$10 billion in new shares, which will be allocated towards technology investments, sales efficiency, and growth.
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