BANK BRADESCO Sets 2024 Growth Targets: Loans Up 7-11%, NII 3-7%

TL;DR

**Bradesco just dropped its 2024 guidance, projecting solid loan and income growth, but watch those operating expenses.**

AI Summary

Banco Bradesco S.A. (BANK BRADESCO) released its 2024 growth guidance on February 7, 2024, projecting an Expanded Loan Portfolio growth of 7% to 11% and Total Net Interest Income growth of 3% to 7%. The bank also anticipates Fee and Commission Income to grow 2% to 6% and Income from Insurance, Pension Plans and Capitalization Bonds to increase by 4% to 8%. This matters to investors because these projections provide insight into the bank's expected financial performance and potential for shareholder returns in the coming year, with a key focus on managing operating expenses to grow 5% to 9%.

Why It Matters

This filing provides investors with Banco Bradesco's official financial targets for 2024, offering a clear roadmap of expected performance across key revenue and expense categories, which directly impacts future profitability and stock valuation.

Risk Assessment

Risk Level: medium — The projections are not guarantees and depend on future events, introducing a medium level of risk regarding their achievement.

Analyst Insight

An investor should compare these 2024 guidance figures against analyst consensus and the bank's historical performance to assess if the projections are ambitious or conservative, and monitor subsequent earnings reports for progress against these targets.

Key Numbers

• 7% to 11% — Expanded Loan Portfolio growth (indicates expected core business expansion)
• 3% to 7% — Total Net Interest Income growth (shows expected growth in primary revenue source)
• 2% to 6% — Fee and Commission Income growth (reflects expected growth in service-based revenue)
• 5% to 9% — Operating Expenses growth (indicates expected cost management and inflation impact)
• 4% to 8% — Income from Insurance, Pension Plans and Capitalization Bonds growth (shows expected growth in non-banking financial services)

Key Players & Entities

• Banco Bradesco S.A. (company) — the registrant providing the guidance
• Carlos Wagner Firetti (person) — Investor Relations Officer who signed the filing
• R$35 billion (dollar_amount) — low end of Expanded ALL guidance
• R$39 billion (dollar_amount) — high end of Expanded ALL guidance

Forward-Looking Statements

• Banco Bradesco will achieve its Expanded Loan Portfolio growth target. (Banco Bradesco S.A.) — medium confidence, target: 2024-12-31
• Total Net Interest Income will fall within the projected range. (Banco Bradesco S.A.) — medium confidence, target: 2024-12-31

FAQ

Key Financial Figures

• $35 — 4% to 8% Expanded ALL (R$ billion) R$35 to R$39 (1) Administrative and person
• $39 — Expanded ALL (R$ billion) R$35 to R$39 (1) Administrative and personnel expe

Filing Documents

• bbd20240207_6k.htm (6-K) — 15KB
• bbd202402076k_001.jpg (GRAPHIC) — 38KB
• 0001292814-24-000349.txt ( ) — 68KB

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: February 7, 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.

View Full Filing

View this 6-K filing on SEC EDGAR