BRADESCO Announces 1Q12 Earnings Results
SAO PAULO, April 23, 2012 /PRNewswire/ -- Banco Bradesco (BM&FBOVESPA: BBDC3, BBDC4; NYSE: BBD, BBDO and Latibex: XBBDC) announces today its results for the first quarter of 2012 (1Q12). The main figures obtained are presented below:
1. Adjusted Net Income(1) in the first quarter of 2012 stood at R$2.845 billion (a 3.9% increase compared to the R$2.738 billion recorded in the same period last year), corresponding to earnings per share of R$2.96 and Return on Average Shareholders' Equity(2) of 21.4%.
2. Adjusted Net Income is composed of R$1.940 billion from financial activities, representing 68.2% of the total, and R$905 million from insurance, pension plan and capitalization bond operations, which accounted for 31.8%.
3. On March 31, 2012, Bradesco's market capitalization stood at R$113.021 billion(3).
4. Total Assets stood at R$789.550 billion in March 2012, a 16.9% increase over the same period in 2011. Return on Average Assets was 1.5%.
5. The Expanded Loan Portfolio(4) stood at R$350.831 billion in March 2012, up 14.6% on the same period in 2011. Operations with individuals totaled R$109.651 billion (up 9.4%), while operations with companies totaled R$241.181 billion (up 17.1%).
6. Assets under Management stood at R$1.087 trillion, up 18.3% on March 2011.
7. Shareholders' Equity stood at R$58.060 billion in March 2012, up 13.2% on March 2011. The Capital Adequacy Ratio stood at 15.0% in March 2012, 12.0% of which fell under Tier I Capital.
8. Interest on Shareholders' Equity and Dividends were paid and recorded in provision to shareholders for income in the first quarter of 2012 in the amount of R$952 million, of which R$175 million was paid as monthly dividends and R$777 million was recorded in provision.
9. Financial Margin stood at R$10.695 billion, up 14.2% in comparison with the first quarter of 2011.
10. The Delinquency Ratio over 90 days stood at 4.1% on March 31, 2012, a 0.5 p.p. increase over March 31, 2011 (3.6%).
11. The Efficiency Ratio(5) stood at 42.7% in March 2012 (42.7% in March 2011) and the "adjusted-to-risk" ratio stood at 52.6% (52.1% in March 2011).
12. Insurance Written Premiums, Pension Plan Contributions and Capitalization Bond Income totaled R$9.418 billion the first quarter of 2012, up 20.0% over the same period in 2011. Technical Reserves stood at R$106.953 billion, up 18.9% on March 2011.
13. Investments in infrastructure, information technology and telecommunications amounted to R$982 million in the first quarter of 2012, a 13.5% increase on the previous year.
14. Taxes and contributions, including social security, paid or recorded in provision, amounted to R$5.689 billion, of which R$1.884 billion referred to taxes withheld and collected from third parties and R$3.805 billion from Bradesco Organization activities, equivalent to 133.7% of Adjusted Net Income(1).
15. Bradesco has an extensive customer service network in Brazil, comprising 7,612 service points (4,636 branches, 1,368 PABs – Banking Service Branches and 1,608 PAAs - Advanced Service Branches). Customers can also use 1,497 PAEs – ATMs (Automatic Teller Machines) in companies, 38,065 Bradesco Expresso service points, 35,007 Bradesco Dia & Noite ATMs and 12,323 Banco24Horas ATMs.
16. Payroll, plus charges and benefits, totaled R$2.448 billion. Social benefits provided to the 105,102 employees of the Bradesco Organization and their dependents amounted to R$585.851 million, while investments in training and development programs totaled R$21.965 million.
17. On March 5, 2012, Bradesco began activities at its subsidiary Bradesco Securities Hong Kong Limited, in Hong Kong, China, focused on prospecting opportunities and distributing fixed income and equity products. Therefore, Bradesco expands its international distribution channels, strengthening its contacts with global investors with strong presence on the Chinese market, in addition to providing access for a new base of institutional investors.
18. On March 13, 2012, Bradesco launched its ADR (American Depositary Receipt) Programs with ADRs backed by common shares on the New York Stock Exchange, in the United States. The Program meets the demand from foreign institutional investors and investment funds, therefore, Bradesco common and preferred shares are traded in the U.S.
19. Major Awards and Recognitions in the period:
- For the 3rd consecutive year, the Bradesco Brand was one of the 10 most valuable brands in the global financial sector. Among Latin American banks, Bradesco was ranked first (The Banker – Brand Finance);
- Bradesco was recognized as one of the "100 Best Companies in IDHO in 2012" and one of the "50 Best Companies in Corporate Citizenship" in 2012 (Gestao & RH magazine);
- Bradesco stood out in the "Top Management 2012" Ranking in fund management (ValorInveste / Jornal Economico);
- Bradesco BBI was named the best investment bank in Brazil by Global Finance magazine; and
- Bradesco BBI was named a leader in fixed-income origination in 2011, according to the Brazilian Association of Financial and Capital Market Entities (Anbima).
20. With regards to sustainability, Bradesco divides its actions into three pillars: (i) Sustainable Finances, focused on banking inclusion, social and environmental variables for loan approvals and offering social and environmental products; (ii) Responsible Management, focused on valuing professionals, improving the workplace and adopting eco-efficient practices; and (iii) Social and Environmental Investments, focused on education, the environment, culture and sports. In this area, we point out Fundacao Bradesco, which has a 55-year history of extensive social and educational work, with 40 schools in Brazil. In 2012, a projected budget of R$385.473 million will benefit 111,170 students in its schools, in Basic Education (from Kindergarten to High School and Vocational Training - High School Level), Education for Youth and Adults; and Preliminary and Continuing Qualification focused on the creation of jobs and generation of income. The nearly 50 thousand students in Basic Education are guaranteed free, quality education, uniforms, school supplies, meals and medical and dental assistance. Fundacao Bradesco also aided another 300,150 students through its distance learning programs, found at its e-learning portal "Virtual School." These students completed at least one of the many courses offered by the Virtual School. Furthermore, another 83,323 people will benefit from projects and actions in partnerships with Digital Inclusion Centers (CIDs), the Educa+Acao Program and Technology courses (Educar e Aprender – Teach and Learn).
(1) According to non-recurring events described on page 8 of this Report on Economic and Financial Analysis; (2) Excludes mark-to-market effect of available-for-sale securities recorded under Shareholders’ Equity; (3) R$121.751 billion considering the closing price of preferred shares (most traded share); (4) Includes sureties and guarantees, letters of credit, advances of credit card receivables, co-obligation in loan assignment (receivables-backed investment funds and mortgage-backed receivables), co-obligation in rural loan assignment, and operations bearing credit risk – commercial portfolio, which includes debentures and promissory notes; and (5) In the last 12 months.
The Financial Statements can be found on Bradesco's Investor Relations website at bradesco.com.br/ir.
For any questions or more information, please contact the Market Relations Department (DRM) at (55 11) 2178-6201.
CONTACT:
Mrs. Ivani Benazzi de Andrade
Phone: +011-55-11-2178-6218
e-mail: [email protected]
or Mr. Carlos Tsuyoshi Yamashita
Phone: +011-55-11-2178-6204
e-mail: [email protected]
SOURCE Banco Bradesco
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