Bradesco's ninth consecutive quarter of earnings growth reflects solid execution and improving profitability. The guidance implies continued momentum, but watch for higher provisioning costs (up 26.5% y/y) and potential macro headwinds in Brazil. The stock may see positive re-rating given 15.8% ROAE vs 14.4% last year.
Price Chart
Executive Summary
Banco Bradesco reported strong 1Q26 results with recurring net income of R$6.8 billion, up 16.1% y/y, driven by 14% revenue growth and improving ROAE of 15.8%. All key revenue lines grew double digits, while credit quality remains manageable with the 90-day delinquency ratio stable at 4.2%.
Key Facts
- Recurring net income R$6.8 billion, +16.1% y/y and +4.5% q/q
- Total revenue R$36.9 billion, +14.0% y/y
- Net interest income R$20.1 billion, +16.4% y/y
- Fee and commission income R$10.4 billion, +6.2% y/y
- Insurance income R$6.4 billion, +20.4% y/y
- Expanded loan portfolio R$1.09 trillion, +8.4% y/y
- Over 90-day delinquency ratio 4.2%, up 0.1pp y/y
- Guidance for FY2026: NII net of provisions R$42-48 billion, fee income +3-5%
- ROAE 15.8% vs 14.4% in 1Q25
Financial Impact
Recurring net income increased R$0.95 billion y/y to R$6.8 billion, with total revenue up R$4.5 billion. Provision expenses rose 26.5% y/y to R$9.7 billion.
Risk Factors
- Provision expenses increased 26.5% y/y, signaling potential credit deterioration
- Delinquency ratio edged up to 4.2% from 4.1% a year ago
- Brazil's uncertain economic outlook (GDP +1.5% expected) could pressure loan growth
- Personnel costs up 4.7% y/y; profit sharing surged 35.6%
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001292814-26-002862 |
| Document: 0001292814-26-002862-index-headers.html | 0001292814-26-002862 |
| Document: 0001292814-26-002862-index.html | 0001292814-26-002862 |
| Document: 0001292814-26-002862.txt | 0001292814-26-002862 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 11, 2026 16w ago | Institutional Cluster | $2.97 $3.17 | ▲ +6.73% | ▲ +2.34% | $3.20 (+7.91%) |
May 29, 2026 18w ago | 6-K | $3.13 $3.20 | ▲ +2.36% | ▲ +1.18% | $3.20 (+2.52%) |
May 13, 2026 20w ago | 6-K | $3.16 $3.15 | ▼ −0.32% | ▼ −4.75% | $3.20 (+1.42%) |
May 7, 2026 21w ago | 6-K | $3.33 $3.28 | ▼ −1.50% | ▼ −5.33% | $3.20 (−3.75%) |
May 7, 2026 21w ago | 6-K | $3.33 $3.28 | ▲ +1.50% | ▲ +5.33% | $3.20 (+3.75%) |
May 7, 2026 21w ago | 6-K | $3.33 $3.28 | ▼ −1.50% | ▼ −5.33% | $3.20 (−3.75%) |
Apr 10, 2026 24w ago | 6-K | $3.68 $3.00 | ▼ −18.41% | ▼ −27.33% | $3.20 (−12.83%) |
Mar 30, 2026 26w ago | 6-K | $3.23 $2.98 | ▼ −7.83% | ▼ −20.21% | $3.20 (−0.87%) |
US Market Status
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