Banco Bradesco 4Q15 Results

28 Jan, 2016, 07:13 ET from Banco Bradesco S.A.

OSASCO, Brazil, Jan. 28, 2016 /PRNewswire/ -- The main figures obtained by Bradesco (BM&FBovespa: BBDC3; BBDC4, NYSE: BBD) in the year of 2015 are presented below:

1. Adjusted Net Income(1) for the year of 2015 stood at R$17.873 billion (an 16.4% increase compared to the R$15.359 billion recorded in the same period of 2014), corresponding to earnings per share of R$3.55 and Return on Average Adjusted Equity(2) of 20.5%.

2. As for the source, the Adjusted Net Income is composed of R$12.584 billion from financial activities, representing 70.4% of the total, and of R$5.289 billion from insurance, pension plans and capitalization bonds operations, which together account for 29.6%.

3. In December 2015, Bradesco's market value stood at R$100.044 billion(3).

4. Total Assets, in December 2015, stood at R$1.080 trillion, an increase of 4.6% over the December 2014 balance. The return on Average Total Assets was 1.7%, an increase of 0.1 p.p. over December 2014 (1.6%).

5. In December 2015, the Expanded Loan Portfolio(4) reached R$474.027 billion, up 4.2% over December 2014. Operations with individuals totaled R$147.749 billion (an increase of 4.5% over December 2014), while corporate segment operations totaled R$326.278 billion (up 4.0% over December 2014).

6. Assets under Management stood at R$1.510 trillion, a 5.9% increase over December 2014.

7. Shareholders' Equity totaled R$88.907 billion in December 2015, 9.1% higher than in December 2014. Basel III Ratio, calculated based on the Prudential Consolidated stood at 16.8% in December 2015, 12.7% of which was classified as Common Equity / Tier I.

8. A total of R$6.035 billion was paid to shareholders as Interest on Shareholders' Equity and Dividends for the profit generated in 2015, of which R$1.981 billion were paid in monthly and interim installments and R$4.054 billion, as complementary, whose payment will be made on March 1, 2016.

9. The Interest Earning Portion of the Net Interest Income stood at R$54.777 billion, an increase of 15.3% compared to the year of 2014.

10. The Delinquency Ratio over 90 days stood at 4.1% in December 2015 (3.5% in December 2014).

11. The Operating Efficiency Ratio (ER)(5) in December 2015 was 37.5% (39.2% in December 2014), while in the "risk-adjusted" concept, it stood at 46.5% (47.9% in December 2014).

12. Insurance Written Premiums, Pension Plan Contributions and Capitalization Bond Income totaled R$64.612 billion in the year of 2015, up 15.1% when compared to the year of 2014. Technical Reserves stood at R$177.835 billion, an increase of 16.0% compared to the balance in December 2014.

13. Investments in infrastructure, information technology and telecommunications amounted to R$5.720 billion in the year of 2015, up 14.4% over the same period in the previous year.

14. Taxes and contributions paid or recorded in provision, including social security, totaled R$25.763 billion, of which R$12.401 billion were related to taxes withheld and collected from third parties, and R$13.362 billion were calculated based on activities developed by Organizacao Bradesco, equivalent to 74.8% of the Adjusted Net Income(1).

15. Bradesco has an extensive Customer Service Network in Brazil, with 4,507 Branches and 3,511 Service Points (PAs). Customers of Bradesco can also count on 736 ATMs located on a company's premises (PAEs), 43,560 Bradesco Expresso service points, 31,527 Bradesco ATMs, and 18,940 Banco24Horas Network ATMs.

16. Payroll, plus charges and benefits totaled R$12.507 billion. Social benefits provided to all 92,861 employees of Organizacao Bradesco and their dependents amounted R$3.150 billion, while investments in education, training and development programs totaled R$145.135 million.

17. In December 2015, the addendum to the contracts for the Offer of Credit Cards and other related financial services was firmed with Via Varejo S.A., related to the "Casas Bahia" brand, and the Services Contract as Banking Correspondent in the country, related to the correspondent activity provided by Via Varejo to Bradesco.

18. In January 2016, Bradesco informed the market that Central Bank approved the acquisition of 100% of the share capital of HSBC Bank Brasil S.A. – Banco Multiplo and HSBC Serviços e Participacoes Ltda. ("HSBC"). The completion of the operation is subject to the approval of the other competent regulatory authorities and in compliance with the legal formalities.

19. In January 2016, Bradesco signed a non-binding Memorandum of Understanding with Banco do Brasil S.A., Banco Santander (Brasil) S.A., Caixa Economica Federal and Itau Unibanco S.A., in order to create a holding company of credit intelligence ("GIC"), which will develop a database with the goal of adding, reconciling and handling database and credit-related information, of individuals and legal entities, which expressly authorize their inclusion in the database, as required by the applicable rules.

20. Major Awards and Acknowledgments in the period:

- Considered the best Brazilian bank of 2015 of The Banker Awards (The Banker / Financial Times);

- Largest private group in the country, with revenues of R$201.2 billion, in the ranking "Valor Grandes Grupos", which lists the 200 largest groups that operate in Brazil (Valor Economico);

- For the 11th consecutive year, the common and preferred shares are on the list of the Indice de Sustentabilidade Empresarial (ISE - Corporate Sustainability Index) of BMF&Bovespa;

- Grupo Bradesco Seguros was the highlight of the Award "Cobertura Performance 2015" (publisher Editora Cobertura);

- Highlight in three important rankings of efficiency in people management: "Best Companies to Work For in Brazil" (Guia 2015 Voce S/A – The 150 Best Companies to Work); "The best in People Management" (newspaper Valor Econômico in partnership with Aon-Hewitt); and "50 Best Psychologically Healthy Companies" (publisher Editora Gestao e RH);

- It was one of the highlights among the best fund managers of Brazil (Revista Exame/Fundacao Getulio Vargas (FGV)); and

- Featured among "The Best Companies for the Consumer 2015", according to the survey Epoca Reclame Aqui, appearing as champion in the categories "Banks", "Banks and Financial Services", "Cards and Insurance".

Organizacao Bradesco is fully committed to internationally recognized sustainability and corporate governance initiatives, particularly: Global Compact, PRI (Principles for Responsible Investment), and Equator Principles. We set our guidelines and strategies with a view to incorporating the best sustainability practices into our businesses, considering the context and the potential of each region, thus contributing to the generation of value in the Organization. Our management process adopts economic and socio-environmental indexes developed in Brazil and abroad, such as the Dow Jones Sustainability Index (DJSI), the Corporate Sustainability Index (ISE, of BM&FBovespa), and the Carbon Efficient Index (ICO2, also of BM&FBovespa), as well as the guidelines and indexes of the Global Reporting Initiative (GRI) and the Carbon Disclosure Project (CDP).

With a broad social and educational program in place for 59 years, Fundacao Bradesco operates 40 schools across Brazil. In 2015, a R$502.721 million budget benefitted 102,182 students enrolled in its schools at the following levels: basic education (from kindergarten to high school and higher secondary technical-professional education), youth and adult education; and preliminary and continuing vocational training, which focuses on creating jobs and income. In addition to being guaranteed free quality education, over 42 thousand students enrolled in the Basic Education system also receive uniforms, school supplies, meals, and medical and dental assistance. With regard to the distance learning system (EaD), it is estimated that more than 590 thousand students were benefitted from it, through its e-learning portal Escola Virtual (Virtual School). These students concluded, at least, one of the various courses offered in its schedule, and another 22,990 students will benefit from projects and initiatives carried out in partnership with Centers for Digital Inclusion (CDIs), the Educa+Acao, and from Technology courses (Educar e Aprender – Educating and Learning).

The Financial Statements can be found on Bradesco's Investor Relations website at bradesco.com.br/ir.

(1) According to the non-recurring events described on page 8 of this Economic and Financial Analysis Report; (2) Excludes mark-to-market effect of Available-for-Sale Securities recorded under Shareholders' Equity; (3) Number of shares (excluding treasury shares) multiplied by the closing price for common and preferred shares on the last trading day of the period; (4) Includes sureties and guarantees, letters of credit, advances of credit card receivables, co-obligations in loan assignments (receivables-backed investment funds and mortgage-backed receivables), co-obligations in rural loan assignments and operations bearing credit risk – commercial portfolio, which includes debentures and promissory notes; and (5) In the last 12 months.

Contact: Ivani Benazzi de Andrade +011-55-11-2194-0924, 4823.ivani@bradesco.com.br  or Carlos Tsuyoshi Yamashita, +011-55-11-2194-0920, 4823.carlos@bradesco.com.br both of Banco Bradesco.

SOURCE Banco Bradesco S.A.



RELATED LINKS

http://bradesco.com.br/ir