News

Banco Bradesco’s Shares Fall on Weak Earnings and Higher Loan Ratio

1 Mins read

Banco Bradesco, one of Brazil’s leading banks, experienced a significant drop in their preferred shares by 3.6% following the release of their weak third-quarter earnings report. Additionally, the bank reported a higher non-performing loan ratio for the same period.

As a result, Bradesco’s shares reached a value of 14.71 reais (equivalent to $2.99) and saw a less than 1% increase compared to the end of last year’s closing rate. It is worth noting that Brazil’s benchmark Ibovespa stocks index experienced a 0.6% uptick during early trading.

During the third quarter, Bradesco observed a surge in the ratio of loans with payments overdue by more than 90 days. This ratio increased to 6.1% from 3.9% compared to the previous year, and slightly rose from 5.9% in the second quarter of 2023. However, Bradesco mentioned that if the impact of a single large corporate client on the ratio was excluded, the ratio would have been 5.6% for the third quarter.

Bradesco allocated BRL9.2 billion for provisions for loan losses in the quarter, which is an increase from the BRL7.3 billion provisioned during the same quarter last year.

Related posts
News

Bitcoin Hits Record $113K as $575M in Shorts Get Liquidated - TokenPost

1 Mins read
Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, soared to a new all-time high of $113,541 on the Bitstamp exchange at…
News

Govt enacts law to regulate VAs, plans pilot for digital currency - Daily Times

2 Mins read
The Virtual Assets Act, 2025 creates the Pakistan Virtual Asset Regulatory Authority (PVARA), a new autonomous regulator to supervise the virtual asset…
News

Funeral home owner accused of stashing decaying bodies expected to plead guilty in federal court

1 Mins read
DENVER – A funeral home owner in Colorado accused of storing nearly 190 decomposing bodies in a room-temperature building and defrauding the…

Leave a Reply

Your email address will not be published. Required fields are marked *