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Banco do Brasil SA (BDORY) Q3 2026 Earnings Report

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BDORY Q3 2026 EPS Results

Actual EPS
$0.04
Consensus EPS
$0.14
Beat/Miss
Missed by -$0.10
One Year Ago EPS
$0.13

BDORY Q3 2026 Revenue Results

Actual Revenue
$18.20B
Expected Revenue
$8.04B
Beat/Miss
Beat by +$10.16B
YoY Revenue Growth
+3.44%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/11/2026
Time
After Close
Conference Call
Wednesday, November 11, 2026
BDORY Upcoming Earnings

Banco do Brasil SA's next earnings date is estimated for February 15, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

BDORY Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 11, 2026|% Change Since:-13.61%|
Earnings Call Sentiment|Negative

The call was dominated by severe agricultural-credit deterioration, elevated provisions, depressed profitability, capital pressure, and reduced shareholder distributions. Management highlighted strong NII and fee-income growth, operating discipline, new risk controls, digital capabilities, and multiple capital-reinforcement initiatives, but acknowledged that the recovery will not be immediate and that the fourth quarter of 2026 and first quarter of 2027 will remain challenging.

Company Guidance

Management guided to a CET1 target of 10.5% for 2027, said it does not expect CET1 below 10% in a longer time frame, and would like to be delivering 11%; beginning 2027, it expects a worsening, a usage of CET1, approximately 40 bps because of regulatory aspects, while converting DTAs could potentially add 120 bps extra capital during '27, with BRL 12 billion to BRL 14 billion of DTAs eligible for conversion. Fourth quarter '26 and first quarter '27 will also be challenging, with smaller profitability than before the delinquency increase in the agri book, while the plan assumes a recovery in results, reduction in delinquency in the agri book, and growth in higher risk-adjusted return loans, especially payroll loans. The 2026 payout was reduced to the mandatory minimum of 25%; management also said the 2027 payout will be assessed at the end of 2027, while the 10.5% target does not contemplate payout, and portfolio volume in 2027 could be even lower than what is being delivered in 2026, with the agribusiness portfolio growing less but not shrinking.

  • Net Interest Income and Fee Income GrowthNet interest income grew 7.4% year-to-date to nearly BRL 81 billion, supported by a more diversified mix and liability management. Fee income rose 4.8%, driven by asset management, consortium, and insurance affiliates.
  • Operating Expenses Remained Under ControlManagement said expenses remained under control without neglecting investments in technology and people, and that the cost-to-income ratio remained at an appropriate level.
  • Decisive Agricultural Credit Risk ResponseBanco do Brasil suspended guidance after identifying an unprecedented deviation in agribusiness nonperforming loans, introduced a resilience matrix for new loans, reviewed collateral practices, added fiduciary sale provisions, created a dedicated recovery unit, and expanded renegotiation and collection efforts.
  • Expanded Collateral and Recovery InfrastructureThe portfolio includes BRL 61 billion in fiduciary sales. Approximately 80% of funds disbursed during the Safra Plan launched in July were backed by this guarantee. The bank has issued more than 20,000 out-of-court renegotiations, and 24% of farmers receiving an out-of-court notice contacted the bank to resolve their situation.
  • Agricultural Renegotiation VolumeBRL 36.6 billion in loans were originated under Provisional Measure 1314 between October 2025 and February 2026. Under Provisional Measure 1376, BRL 13.4 billion was renegotiated, with 85% involving compliant customers facing cash-flow pressures. The bank also renegotiated more than BRL 3.8 billion under its complementary strategy.
  • Strong Payment Performance in New Agricultural LoansLoans granted after July 2025 under the resilience matrix and fiduciary assignment had an average on-time payment rate above 90%, compared with approximately 70% for the broader agribusiness collection rate in September and October.
  • Continued Support for Longstanding Agricultural CustomersOf more than 540,000 agricultural borrowers, 88% have been with Banco do Brasil for over 10 years and 90% were paying their obligations on time. The bank had already disbursed more than BRL 24 billion for the new crop season.
  • Growth Toward Lower-Risk Credit LinesThe bank said it is redirecting growth toward lower-risk businesses, including public-sector payroll loans, private-sector payroll loans, auto finance, loans backed by guaranteed funds or collateral, and guaranteed-fund origination for micro, small, and midsized enterprises. Guaranteed-fund loans now account for 41% of the relevant portfolio.
  • Expanded Business and Digital CoverageBanco do Brasil has 215 branches dedicated exclusively to business customers and more than 3,700 employees serving this clientele. It conducted approximately 35,000 visits and consultations with farmers, while its digital channel reached 36.4 million active customers. Its CRM identifies more than 1 billion business opportunities per day.
  • High-Value Customer and Card MomentumSince the launch of Altus Liv, the number of customers holding the card increased 61% in the quarter, while average spending rose approximately 30% after account opening. The bank also launched BB Visa Infinite Private.
  • Significant Technology and AI InvestmentBanco do Brasil invested BRL 26.2 billion in technology since January 2023. AcademIA AI BB has brought together 60,000 colleagues, and AI and analytics have generated nearly 1.5 million hours of efficiency.
  • Positive Reception for the New BB AppThe new BB app, launched in August, had a 95% positive rating.
  • Risk Model and Data Analytics ImprovementsManagement said AI and analytics are being incorporated into risk models to evaluate customer history, regional characteristics, collective risk signals, and factors affecting growers' payment capacity, with the goal of detecting behavioral changes earlier.
  • Progress in Leadership DiversitySince 2023, the proportion of women in leadership positions increased from 25.8% to 30%, while the proportion of Black, mixed-race, and Indigenous employees in leadership increased from 26.4% to 31.6%.
  • Large Sustainable Credit and ESG Funding PortfoliosThe sustainable credit portfolio exceeded BRL 431 billion, and the bank raised BRL 55.8 billion in funding linked to ESG initiatives.
  • Capital Reinforcement PlanManagement said it has more than 15 actions planned involving regulatory, ownership, administrative, and commercial measures. The target is CET1 of 10.5% for 2027, supported by retained results, risk-appetite adjustments, potential conversion of deferred tax assets into presumed credits, and potential IPOs of two conglomerate companies.
  • Potential Deferred Tax Asset Capital BenefitManagement said the conversion of deferred tax assets into presumed credit could potentially add 120 basis points to CET1 during 2027. It estimated that BRL 12 billion to BRL 14 billion of deferred tax assets could potentially be transformed into presumed credit, subject to the applicable conditions.
  • Credit Card Derisking Measures Showing ProgressAfter a spike in card nonperforming loans related to an operating failure in automatic installment payments, management said card delinquency had returned to below double digits. The bank eliminated the limit for 400,000 customers and reduced limits for another 1.2 million customers.
  • Private Payroll Loan Collection RemediationThe bank identified that many customers changing jobs had payroll loans that were not transferred to their new employers through the Dataprev system. It made manual adjustments, revised risk and collection models, and said approximately half of private payroll delinquency came from workers who had moved to another job.
  • Corporate Portfolio NPL ImprovementManagement said the corporate portfolio's nonperforming loan ratio was approximately 9.5%, and although still high, it had declined year-over-year. It also said 41% of the SME portfolio has some form of settlement fund.
  • Forbearance Portfolio Payment PerformanceManagement said a good part of the approximately BRL 60 billion forbearance portfolio was paying on time, providing flexibility for agricultural borrowers facing tighter cash flow or reduced revenue.
  • Potential Reduction in Economic-Plan ProvisionsManagement said it was seeing progress toward a final Supreme Court ruling on economic-plan claims and therefore expected smaller accounting expenses in that area, with a final ruling expected by year-end.
  • Scale and Liquidity of the BankBanco do Brasil described itself as having BRL 2.5 trillion in assets, nearly 90 million clients, a nationwide presence, and adequate liquidity.

BDORY Earnings History

BDORY earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Feb 15, 20272026 (Q4)0.15-0.19――
Nov 11, 20262026 (Q3)0.140.040.13-70.08% (-0.09)
Aug 12, 20262026 (Q2)0.130.130.131.00% (+0.03)
May 13, 20262026 (Q1)0.120.080.1-20.00% (-0.02)
Feb 11, 20262025 (Q4)0.140.190.27-27.61% (-0.07)
Nov 12, 20252025 (Q3)0.120.130.28-53.99% (-0.15)
Aug 14, 20252025 (Q2)0.160.100.3-66.22% (-0.20)
May 15, 20252025 (Q1)0.280.100.29-64.16% (-0.19)
Feb 19, 20252024 (Q4)0.280.270.33-19.28% (-0.06)
Nov 13, 20242024 (Q3)0.300.280.31-12.10% (-0.04)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed