Banco Bradesco S.A. (BBD) Q4 2024 Earnings Call Transcript

2025-02-08 04:52:08 ET

Banco Bradesco S.A. (BBD)

Q4 2024 Earnings Conference Call

February 07, 2025, 8:30 AM ET

Company Participants

Marcelo de Araujo Noronha - Chief Executive Officer

Cassiano Ricardo Scarpelli - Vice President

Andre Carvalho - Investor Relations

Joao Carlos Gomes Da Silva - Executive Officer

Conference Call Participants

Bernardo Guttmann - XP Investimentos

Gustavo Schroden - Citigroup

Daniel Vaz - Safra

Thiago Batista - UBS

Renato Meloni - Autonomous

Mario Pierry - BofA Securities

Pedro Leduc - Itau

Yuri Fernandes - JPMorgan

Carlos Gomez-Lopez - HSBC

Eduardo Nishio - Genial

Tito Labarta - Goldman Sachs

Presentation

Marcelo de Araujo Noronha

Hello. Good morning. I am Marcelo Noronha. I'm here live from Cidade de Deus to present the results for the Fourth Quarter of 2024 of Bradesco. And certainly this also contemplates the full year results for 2024. I would like to say that we will split our presentation in three parts with three initial messages for all of you.

First, the results for the fourth quarter reinstate our profitability improvement, just the same way as I presented a year ago here when we presented the plan in the same month of last year when we started our growth plan and I showed you what was going to happen step-by-step, quarter-on-quarter.

The second message is that our guidance for 2025 is a more cautious guidance in terms of risk appetite, and this also includes the effects of 4,966 and higher stake at Cielo. And it is cautious vis-a-vis the macro scenario and at the same time it's very optimistic in terms of what we are delivering and what we are currently doing.

And also there is our transformation plan. So it is my duty to present to you a small summary of what we did in 2024. We continue to expedite our transformation and we made a decision based on a better macro scenario, more cautious scenario. We decided to invest in our transformation without stopping anything else. Because here we have efficiency gains, increase of the activities and everything else that we are about to see.

Now, it's precisely 10:32, I will start our presentation with the results that have been posted earlier on this morning. Our net income was BRL5.4 billion growth of 37% and BRL19.6 billion in 2024, meaning 20% growth....

Read the full article on Seeking Alpha

For further details see: