Banco Bradesco Q3 2025 Earnings Call Transcript

Key Takeaways

  • Negative Sentiment: Analysts flagged a sharp decline in demand and savings deposits; management attributed this to footprint reductions and active cash-management/ALM adjustments, raising funding and deposit-share concerns.
  • Positive Sentiment: Insurance results—especially health—were highlighted as very strong (health earnings roughly double year‑ago levels), though analysts questioned the sustainability of that performance.
  • Neutral Sentiment: Investors asked about the bank’s loan market‑share goal (previously cited range from 14% toward 15–19%); management noted market share has remained relatively stable and emphasized selective growth instead of broad share grabs.
  • Neutral Sentiment: Management stressed ongoing funding and ALM initiatives and a selective increase in risk appetite for certain segments (focus on secured and higher‑comfort lines) as the route to future profitable growth.
AI Generated. May Contain Errors.
Earnings Conference Call
Banco Bradesco Q3 2025
00:00 / 00:00

Transcript Sections

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Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language.]

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

BofA Securities Mario.

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Mario Pierry
Mario Pierry
Managing Director at Bank of America

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

The next question comes from Carlos Gomez-Lopez from HSBC. Carlos, good to see you.

Carlos Gomez-Lopez
Carlos Gomez-Lopez
Head of LatAm Financial Institutions at HSBC

Hello Andre, and thank you. Hi, good to see you. Thank you for taking my call. I had two questions. The first one is about funding that we haven't talked about. In particular, we saw a big decline in demand deposits and saving deposits. Is that, in your opinion, related to the reduction in footprint? What do you think your current market share is in those two lines, in demand deposits and in saving deposits? Second, on insurance, you continue to deliver very, very good results. I'm going to ask once more about the sustainability, specifically in health insurance, where your earnings are now twice the level that you had last year. Thank you.

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

Thank you. Carlos, you can start. The subject of deposits, right.

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

The next question comes from Tito Labarta from Goldman Sachs. Tito.

Tito Labarta
Tito Labarta
VP at Goldman Sachs

Thank you, Andre. Good morning, Marcelo, Cassiano. Thank you for taking my question. My question, you've talked a little bit about growth and you're growing in some segments where you feel more comfort, particularly more than secured lines. In the other segments you're not growing, but you may increase your risk appetite going forward. Marcelo, if we go back after you became CEO, part of your strategic plan was to potentially increase market share in loans from 14% to maybe 15% to 19%. Since then, your market share is still relatively stable. Just thinking, how important do you think it will be to increase your market share in order to keep improving profitability? Or should the focus be more maybe focus on the segments that are more profitable where your overall market share maybe matters less?

Tito Labarta
Tito Labarta
VP at Goldman Sachs

Just how should we think about your ability to gain market share from here and how important that will be for you to improve your profitability going forward? Thank you.

Tito Labarta
Tito Labarta
VP at Goldman Sachs

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

[Foreign language].

Andre Carvalho
Andre Carvalho
CEO at Banco Bradesco

Thank you, Tito. [Foreign language].

Executives
    • Andre Carvalho
      Andre Carvalho
      CEO
Analysts
    • Analyst 2
    • Mario Pierry
      Managing Director at Bank of America
    • Tito Labarta
    • Analyst 1
    • Carlos Gomez-Lopez
      Head of LatAm Financial Institutions at HSBC
    • Company Representative
    • Analyst 3