EarningsQ3 2026 Earnings Report
MX:BBDN Q3 2026 EPS Results
Actual EPS$2.46
Consensus EPS$2.46
Beat/MissMet expectations
One Year Ago EPS$1.71
MX:BBDN Q3 2026 Revenue Results
Actual Revenue$380.71B
Expected Revenue$141.30B
Beat/MissBeat by +$239.41B
YoY Revenue Growth+17.09%
Earnings Announcement Details
QuarterQ3 2026
Date10/22/2026
TimeAfter Close
Conference CallThursday, October 22, 2026
MX:BBDN Upcoming Earnings
Banco Bradesco SA's next earnings date is estimated for February 10, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:BBDN Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive. Bradesco reported strong loan growth, revenue expansion, capital ratios, treasury performance, insurance results and continued progress in digital transformation and efficiency. These positives were moderated by portfolio-mix pressure on NIM, rising NPLs, higher cost of credit, macroeconomic stress on retail borrowers, and NII net of provisions running in the lower end of guidance.Company Guidance
BRL 10 Billion Capital Increase Completed
Bradesco completed a capital increase of BRL 10 billion, which management said leaves the bank solid to continue investing.
Loan Portfolio Reached BRL 1.15 Trillion
The loan portfolio totaled BRL 1 trillion 150 billion, growing 11.1% year-over-year and 1.1% quarter-over-quarter. Management said growth continued in areas where the bank has risk appetite.
Loan Growth Outpaced the Financial System
The national financial system grew 9.2% year-over-year through August, while Bradesco gained 1% of market share. Management also stated that the system grew approximately 0.5% in July and August combined, compared with Bradesco's continued portfolio traction.
Strong Corporate and Secured-Lending Expansion
Legal-entity lending grew 14.1%, with large corporates growing 14.8% and adding more than BRL 50 billion during the year. FGI and FGO-backed portfolios grew approximately 31% to 31.5%, while large-corporate lending increased more than 40% in one portfolio comparison.
Private Payroll and Vehicle Lending Accelerated
Private payroll loans grew 102% year-over-year and 13.3% quarter-over-quarter. Vehicle lending grew almost 27%, supported by a new technology platform and improved customer and dealer experiences.
Mortgage and Real-Estate Lending Continued to Grow
Management reported 15.2% growth in mortgages and real estate in one portfolio presentation, and later cited growth of 2.8% for individuals and 2.9% for legal entities in the expanded portfolio.
Bradesco Maintained Lower Delinquency Than the Market in Key Payroll Portfolios
For rural individuals, Bradesco's over-90-day NPL was 3.1% in August versus 9.7% for the market. For private payroll loans, Bradesco was at 5.4% versus 10.6% for the market, while INSS payroll loans were at 1.8% versus 2.2% for the market. The combined private and public payroll portfolio was at 2.8% versus 3.8% for the market.
Strong Collateral Coverage
Individuals had 72% of loans secured. When the FGI and FGO portfolio was separated, stage-three coverage was 105%, which management said reflected the quality of the guarantees.
Revenue Growth Across Multiple Lines
Total NII grew 14% year-over-year and 2.4% quarter-over-quarter. Management said revenue growth came from NII, liabilities, fees and commissions, and insurance, with total NII net of provisions still growing approximately 5%.
Fee Income and Investment-Related Services Expanded
Custody, brokerage, investment banking, asset management and related services posted growth, including a 15.6% nine-month increase cited for one fee-income line. Bradesco also reported significant brand growth and market-share gains through assets under management.
Insurance Business Delivered Resilient Results
The insurance group reported resilient ROE of 22%. Insurance premiums and revenues grew throughout the period, with Bradsaúde identified as a major highlight. Technical provisions were almost BRL 480 billion and grew year-over-year.
Treasury and Market NII Remained Strong
Management described treasury operations as recurring and robust, with positive expectations for the fourth quarter. Market NII was expected to be around BRL 3 billion for the year, and management said similar numbers were expected in the fourth quarter.
Structural Efficiency Improvements Continued
Management said efficiency gains were structural rather than driven by one-off events, supported by footprint adjustments, procurement, contract and technology-license reviews, and increased use of AI. The bank is still expecting about 40 points of efficiency over the next two to three years.
Technology Productivity Increased
The Bridge technology initiative grew from approximately 500 cases to more than 1,000. Technology delivery capacity increased from 300 in 2023 to three times that level, with management targeting fourfold capacity without increasing personnel.
Digital Transformation Reached Scale
More than 45 million clients had been migrated to digital wholesale, with more than 15 million interactions through BIA. BIA answered questions in 90% of cases, while approximately 10% to 12% of contacts were transferred to human agents.
Principal and Prime Segments Advanced
Principal reached 93 offices and more than 500,000 clients in September, with additional expansion planned for December. Prime had approximately 4.5 million clients at quarter-end and was expected to reach around 4.6 million by year-end; management also cited 4.7 million clients in another portion of the presentation.
Strong Capital Ratios
CET1 was 12.1% and Tier 1 capital was 13.7% following the capital increase.
Wholesale Risk-Adjusted Returns and Origination Improved
Management said wholesale risk-adjusted returns were high and increasing, with large-corporate relationships also generating service, treasury, market NII and investment-banking revenue. The bank was originating more across corporate segments and expanding origination for middle-market companies.
MX:BBDN Earnings History
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