9. Banco Bradesco (BBD) is a private sector commercial bank and among the top five banks in Brazil, in terms of assets.
The stock has gained 24% during the past year and 55% of analysts covering it rate it a buy.
Total loan growth grew 22% year-over-year, as corporate and auto loans, accounting for two-thirds of total loans, were robust. Corporate loans expanded 26%, while personal loans were lower at 16.4%.Improved asset quality is a positive. The bank's non-performing loans improved 4.4% compared to 5.3% in the same period last year. Provision coverage stands at 159%, up from 151% in the June quarter of 2010. Capital adequacy ratio was 15%. Banco expects its loan book to grow at 15% to 19% for 2011, backed by higher demand from small and medium enterprises (SMEs). The stock is trading at 11.1 times its 2011 earnings.