Banco Bradesco 3Q17 Results

General Press Releases Thursday November 2, 2017 14:56
SAO PAULO--2 Nov--PRNewswire/InfoQuest
The main figures reported by Bradesco in the first nine months of 2017, considering the consolidation, from July 1, 2016, of HSBC Bank Brasil S.A. and its subsidiaries (HSBC Brasil):

1. Adjusted Net Income for the first nine months of 2017 stood at R$14.162 billion (a 11.2% increase compared to the Adjusted Net Income of R$12.736 billion recorded in the same period of 2016), corresponding to earnings per share of R$3.05 and return on Average Adjusted Shareholders' Equity of 18.1%.

2. As for the source, the Adjusted Net Income is composed of R$10.035 billion from financial activities, representing 70.9% of the total, and of R$4.127 billion from insurance, pension plans and capitalization bond operations, which together account for 29.1%.

3. On September 30, 2017, Bradesco's market capitalization stood at R$208.250 billion, showing a growth of 29.8% over September 2016.
4. Total Assets, in September 2017, stood at R$1.312 trillion, an increase of 3.3% over September 2016. The return on Average Total Assets was 1.5%.

5. In September 2017, the Expanded Loan Portfolio reached R$486.864 billion, a 6.7% decrease over September 2016. Operations with individuals totaled R$172.207 billion (an increase of 0.7% over September 2016), while operations with companies totaled R$314.657 billion (a 10.3% decrease over September 2016).

6. Assets under Management stood at R$1.992 trillion, a 6.8% increase over September 2016.

7. Shareholders' Equity totaled R$110.301 billion in September 2017, 11.9% higher than in September 2016. The Basel III Ratio, based on the Prudential Conglomerate stood at 17.7%, 13.4% of which is Tier I Capital.

8. A total of R$4.597 billion was paid and provisioned to shareholders as Interest on Shareholders' Equity for the profit generated in the first nine months of 2017, R$2.054 billion of which was paid in monthly and interim installments, and R$2.543 billion was provisioned.

9. The Interest-Earning Portion of the NII totaled R$47.114 billion in the first nine months of 2017, showing a growth of 1.7% in relation to the same period of first nine months of 2016.
10. The 90-day Delinquency Ratio stood at 4.8% in the end of September 2017, a decrease of 0.2 p.p. compared to June 2017.

11. The Efficiency Ratio (ER), excluding the effect of impairment of financial assets, in September 2017 was 40.7% (38.2% in September 2016), while the "risk-adjusted" efficiency ratio stood at 53.2% (49.9% in September 2016).

12. Insurance Written Premiums, Pension Plan Contributions and Capitalization Bond Income totaled R$55.097 billion in the first nine months of 2017, up 9.8% when compared with the same period of 2016. Technical provisions stood at R$239.287 billion, an increase of 12.0% compared with the balance in September 2016.

13. Investments in infrastructure, information technology and telecommunications amounted to R$4.215 billion in the first nine months of 2017.

14. Taxes and contributions paid or recorded in provision, including social security, totaled R$26.496 billion in the first nine months of 2017, of which R$10.942 billion was related to taxes withheld and collected from third parties, and R$15.554 billion, was calculated based on activities developed by the Bradesco Organization, equivalent to 109.8% of the Adjusted Net Income.

15. Bradesco has an extensive Customer Service Network in Brazil, with 4,845 Branches and 3,908 Customer Service Points (PAs). The following are also available to Bradesco customers: 980 ATMs located on company premises (PAEs), 39,062 Bradesco Expresso customer service points, 35,854 Bradesco ATMs, and 21,006 Banco24Horas Network ATMs.

16. In July 2017, Bradesco launched a Special Voluntary Severance Program Scheme (PDVE), in which the Organization's employees who fulfilled the requirements established in the regulations of the respective plan may join. The deadline for joining the plan ended in late August 2017, with the adhesion of 7.4 thousand employees, and a total cost of R$2.3 billion. The estimated annual effect on personnel expenses is a reduction of R$1.5 billion.

17. Payroll, plus charges and benefits totaled R$12.700 billion in the first nine months of 2017. Social benefits provided to employees of the Bradesco Organization and their dependents amounted to R$3.480 billion, while investments in education, training and development programs totaled R$127.693 million.

18. Major Awards and Acknowledgments in the period:
  • Winner of the "Empresas Mais" award, in the "Banks" category (O Estado de S. Paulo newspaper, in partnership with Fundacao Instituto de Administracao - FIA and Austin Rating);
  • Winner in the "As Melhores da Dinheiro 2017" guide, in the category "Corporate Governance". Bradesco Vida e Previdencia won Best Company in the sector and was also featured in the "Financial Sustainability" and "Innovation and Quality" categories (IstoE Dinheiro magazine);
  • Was featured at the "Tech Projects of the Year Awards 2017", winning in the "Cyber Security" category, with the case "Using Big Data Technology to Prevent Attacks Against ATM", which shows the use of Big Data to identify, in real time, possible attacks on ATMs (The Banker magazine);
  • Was featured at the 2017 edition of the "Conarec – National Congress of Company-Customer Relations" awards, in the "Banks" category. The Grupo Bradesco Seguros won the award in the categories: "Insurance", "Health", "Pension Plans" and "Capitalization Bonds";
  • Was included on the list of "150 Best Companies to Work in Brazil" (Epoca magazine, with the evaluation of the Great Place To Work consulting firm);
  • Bradesco BBI won the triple crown and became the only Brazilian bank to win three of the sector's top international awards two years in a row, namely: "The Most Innovative Investment Bank in Latin America", by The Banker magazine; and "The Best Investment Bank Brazil", by Global Finance and Euromoney;
  • The Grupo Bradesco Seguros, for the eighth year in a row, was listed in the "Melhores & Maiores" yearbook, a major highlight in the insurance sector, with "Bradesco Saude", "Bradesco Vida e Previdencia", and "Bradesco Auto/RE" (Exame magazine); and
  • Bradesco Seguros was included in the "Valor 1000" yearbook, leading the insurance sector in Brazil. "Bradesco Seguros" and "Bradesco Saude" placed first in the categories "General Insurance" (includes Auto) and "Health Insurance", respectively (Valor Economico newspaper).

Bradesco Organization is fully committed to the socioeconomic development of the country. We set our business guidelines and strategies with a view of incorporating the best sustainability practices, considering the context and the potential of each region, thus contributing to the generation of shared value in the long-term. To reinforce this position, we emphasized adherence to globally recognized business initiatives, such as: Global Compact, Sustainable Development Goals (SDG), Equator Principles, CDP (Carbon Disclosure Program), Principles for Responsible Investment (PRI), GHG Protocol Program (Brazilian Greenhouse Gas Emissions Program) and Companies for Climate Change (EPC). The Board of Directors, through the Sustainability Committee, monitors the sustainability deliberations. Excellence in business management is recognized by the main indexes of Sustainability, such as the Dow Jones Sustainability Index (DJSI) – "World and Emerging Markets", of the New York Stock Exchange, the Corporate Sustainability Index (ISE), and the Carbon Efficient Index (ICO2), both from B3.

With a broad social and educational program put in place 60 years ago, Fundação Bradesco operates 40 schools across Brazil. In 2017, a budget of R$625.944 million will benefit an estimated number of 104.2 thousand 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 continued vocational training, focused on creating jobs and income. In addition to the guarantee of free, quality education, the students enrolled in the Basic Education system, numbering over 43 thousand, also receive uniforms, school supplies, meals, and medical and dental assistance. Fundacao also expects to benefit 630 thousand students via distance learning (EaD), through its e-Learning portal "Escola Virtual" (Virtual School), where students can complete one out of more than 90 courses offered in its schedule. Another 15,040 students are taking part in projects and actions in partnership with the Program Educa+Acao and in Technology courses.

CONTACT:
Investor Relations team
+011-55-11-2194-0922
investors@bradesco.com.br

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