Bradesco, Affiliate Cielo Ink New Services Contract
Ticker: BBDO · Form: 6-K · Filed: Jan 2, 2024 · CIK: 1160330
| Field | Detail |
|---|---|
| Company | Bank Bradesco (BBDO) |
| Form Type | 6-K |
| Filed Date | Jan 2, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: related-party-transaction, corporate-governance, service-agreement
TL;DR
**Bradesco just signed a new service contract with its affiliate Cielo, formalizing their business relationship.**
AI Summary
Banco Bradesco S.A. (Bradesco) announced on January 2, 2024, that it entered into a new contract with its affiliate, Cielo S.A., on December 28, 2023. This agreement outlines Bradesco's role in providing services for the intermediation, capture, indication, and maintenance of commercial establishments for Cielo's accreditation system. This matters to investors because it formalizes an ongoing related-party transaction, potentially impacting revenue streams for both entities and highlighting the intertwined operations within Bradesco's control group.
Why It Matters
This filing formalizes a new service contract between Bradesco and its affiliate Cielo, clarifying their operational relationship and potential revenue flows from these services.
Risk Assessment
Risk Level: low — The filing describes a routine related-party transaction that formalizes existing operational relationships, posing minimal new risk.
Analyst Insight
An investor should note this filing as a routine disclosure of an ongoing related-party transaction, confirming operational alignment between Bradesco and its affiliate Cielo, but it doesn't signal a major shift in strategy or financial performance.
Key Players & Entities
- Banco Bradesco S.A. (company) — registrant and service provider
- Cielo S.A. (company) — affiliated company and service recipient
- Securities and Exchange Commission (CVM) Resolution No. 80/22 (other) — regulatory framework for the communication
- December 28, 2023 (date) — date the contract was celebrated
- January, 2024 (date) — month for which the report is filed
FAQ
What is the primary purpose of the contract between Banco Bradesco S.A. and Cielo S.A.?
The contract establishes the conditions for services to be provided by Bradesco to Cielo, specifically regarding the intermediation, capture, indication, and maintenance of commercial establishments for potential accreditation to the Cielo System.
When was this contract between Bradesco and Cielo celebrated?
The Contract for Provision of Intermediation, Capture, Indication and Maintenance Services of Commercial Establishments was celebrated on December 28, 2023.
Why is Banco Bradesco S.A. required to disclose this transaction?
Banco Bradesco S.A. is required to disclose this transaction in accordance with Article 33, item XXXII and Exhibit F of Securities and Exchange Commission (CVM) Resolution No. 80/22 and the Company Related-Party Transactions Policy.
What is the relationship between Banco Bradesco S.A. and Cielo S.A.?
Bradesco composes, through controlled companies, Cielo's control group, making Cielo an affiliated company.
What type of services will Bradesco provide to Cielo under this new contract?
Bradesco will provide services related to intermediation, capture, indication, and maintenance of commercial establishments for potential accreditation to the Cielo System.
Filing Stats: 946 words · 4 min read · ~3 pages · Grade level 16.1 · Accepted 2024-01-02 07:26:58
Filing Documents
- bbd20240102_6k.htm (6-K) — 18KB
- bbd202401026k_001.jpg (GRAPHIC) — 8KB
- 0001292814-24-000006.txt ( ) — 30KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: January 2, 2024 BANCO BRADESCO S.A. By: /S/ Carlos Wagner Firetti Carlos Wagner Firetti Department Officer and Investor Relations Officer
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.