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Banco Bradesco S.A. - 1H11 Earnings Results

SAO PAULO, July 27, 2011 /PRNewswire/ -- The main figures obtained by Bradesco (BM&FBovespa: BBDC3; BBDC4), (NYSE: BBD) in the first half of 2011 are presented below:

1. Adjusted Net Income(1) in the first half of 2011 was R$5.563 billion (an increase of 20.9% compared to R$4.602 billion in the same period of 2010), corresponding to earnings per share of R$2.82 in the last 12 months and Return on Average Shareholders' Equity (2) of 23.2%.

2. Adjusted Net Income was composed of R$4.002 billion arising from financial activities, which represented 71.9% of the total, and R$1.561 billion from insurance, private pension plans and savings bond operations, which accounted for 28.1% of the total.

3. On June 30, 2011, Bradesco's market capitalization stood at R$111.770 billion(3), while the value of preferred shares rose by 28.3%(4) in the last 12 months, against a 2.4% appreciation of the Ibovespa index.

4. Total Assets stood at R$689.307 billion in June 2011, an increase of 23.5% from the balance in the same period in 2010. Return on Average Assets was 1.7%.

5. The Expanded Loan Portfolio(5) stood at R$319.802 billion in June 2011, up 23.1% from the same period in 2010. Operations with individuals totaled R$102.915 billion (up 14.6%), while operations with companies totaled R$216.887 billion (up 27.6%).

6. Total Assets under Management stood at R$933.960 billion, an increase of 21.6% from June 2010.

7. Shareholders' Equity stood at R$52.843 billion in June 2011, up by 19.3% on the balance of June 2010. The Capital Adequacy Ratio stood at 14.7% in June 2011, 12.9% of which under Tier I Capital.

8. In the first half of 2011, Interest on Shareholders' Equity and Dividends were paid and provisioned to shareholders in the amount of R$1,876 million, of which R$940 million as monthly and interim dividends paid and R$936 million provisioned.

9. The Financial Margin reached R$18.833 billion, up 19.7% in comparison with the first half of 2010.

10. The Delinquency Ratio over 90 days stood at 3.7%, down 0.3 p.p. from June 2010.

11. The Efficiency Ratio(6) stood at 42.7% (42.0% in June 2010) and in the concept of "adjusted to- risk" ratio stood at 52.2% in June 2011 (54.6% in June 2010).

12. Insurance Written Premiums, Pension Plan Contributions and Savings Bond Income totaled R$17.511 billion in the first half of 2011, up by 22.0% over the same period in 2010. Technical provisions stood at R$93.938 billion, equal to 30.2% of the Brazilian insurance market (reference date: May/11).

13. Investments in infrastructure, information technology and telecommunications amounted to R$1.740 billion in the first half of 2011, for growth of 1.9% when compared to the same period in the previous year.

14. Taxes and contributions, including social security, paid or provisioned, amounted to R$11.028 billion, of which R$3.992 billion referring to taxes withheld and collected from third parties and R$7.036 billion based on the activities of Bradesco Organization, equivalent to 126.5% of Adjusted Net Income(1).

15. Banco Bradesco has an extensive customer service network in Brazil, comprising 6,648 service points (3,676 branches, 1,313 PABs - Banking Service Branches and 1,659 PAAs Advanced Service Branches). Customers can also use 1,587 PAEs (ATMs in companies), 29,263 Bradesco Expresso service points, 6,227 Postal Bank branches, 32,714 own ATMs in the Bradesco Dia&Noite network and 12,389 ATMs shared with other banks(7).

16. Employee payroll, plus charges and benefits, totaled R$4.233 billion. Social benefits provided to the 98,317 employees of the Bradesco Organization and their dependents amounted to R$1.006 billion, while investments in training and development programs totaled R$58.048 million.

17. On May 20, 2011, Bradesco acquired the shareholding control of Banco do Estado do Rio de Janeiro S.A. (BERJ). The operation guarantees Bradesco the right to provide services to the state of Rio de Janeiro relating to the payment of 440 thousand state servants, as well as the payment to suppliers and of state taxes, among other services.

18. On June 20, 2011, Moody´s Investors Service upgraded Bradesco's foreign currency ratings: the long-term deposit rating went from 'Baa3' to 'Baa2' and the short-term deposit rating from 'Prime-3' to 'Prime-2'. The long-term senior debt rating was also upgraded from 'Baa2' to 'Baa1'.

19. Main Awards and Acknowledgments in the second quarter of 2011:

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