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Banco Bradesco 2013 Results

Stocks in this article: BBDBBDO

SAO PAULO, Jan. 30, 2014 /PRNewswire/ -- The main figures obtained by Bradesco (NYSE: BBD, BBDO; Latibex: XBBDC; BM&FBOVESPA: BBDC3, BBDC4) in 2013 are presented below:

  1. Adjusted Net Income (1) for 2013 stood at R$12.202 billion (a 5.9% increase compared to the R$11.523 billion recorded in the same period last year), corresponding to earnings per share of R$2.91 and Return on Average Adjusted Shareholders' Equity (2) of 18.0%.
  2. Adjusted Net Income is composed of R$8.462 billion from financial activities, representing 69.3% of the total, and R$3.740 billion from insurance, pension plan and capitalization bond operations, which accounted for 30.7%.
  3. On December 31, 2013, Bradesco's market capitalization stood at R$128.085 billion (3). As of May 2013, Bradesco common shares compose the Ibovespa index.
  4. Total Assets stood at R$908.139 billion in December 2013, a 3.3% increase over the same period in 2012. Return on Total Average Assets was 1.4%.
  5. The Expanded Loan Portfolio (4) stood at R$427.273 billion in December 2013, up 10.8% during the same period in 2012. Operations with individuals totaled R$130.750 billion (up 11.2% on December 2012), while operations with companies totaled R$296.523 billion (up 10.6% on December 2012).
  6. Assets under Management stood at R$1.260 trillion, a 2.8% increase from December 2012.
  7. Shareholders' Equity stood at R$70.940 billion in December 2013, up 1.3% on December 2012. Capital Adequacy Ratio (Basel III) stood at 16.6% in December 2013, 12.3% of which fell under Tier I Capital.
  8. Interest on Shareholders' Equity and Dividends were paid and recorded in provision to shareholders totaling R$4.078 billion on income for 2013, R$1.803 billion of which was paid as monthly and interim interest and R$2.275 billion was recorded in provision.
  9. Interest Financial Margin stood at R$42.686 billion, up 1.6% in comparison with 2012.
  10. The Delinquency Ratio over 90 days dropped 0.6 p.p. in the last 12 months and stood at 3.5% on December 31, 2013 (4.1% on December 31, 2012).
  11. The Efficiency Ratio (5) in December 2013 stood at 42.1% (41.5% in December 2012), whereas the "adjusted to risk" ratio stood at 52.1%, (52.7% in December 2012).
  12. Insurance Written Premiums, Pension Plan Contributions and Capitalization Bond Income totaled R$49.752 billion in 2013, up 12.3% over 2012. Technical Reserves stood at R$136.229 billion, up 9.7% on December 2012.
  13. Investments in infrastructure, information technology and telecommunications amounted to R$4.842 billion in 2013, up 9.8% over the same period last year.
  14. Taxes and contributions, including social security, paid or recorded in provision, amounted to R$21.758 billion, of which R$9.902 billion referred to taxes withheld and collected from third parties and R$11.856 billion from Bradesco Organization activities, equivalent to 97.2% of Adjusted Net Income (1).
  15. Bradesco has an extensive customer service network in Brazil, with 4,674 Branches and 3,586 Service Branches - PAs. Customers can also use 1,180 PAEs – ATMs (Automatic Teller Machines) in companies, 46,851 Bradesco Expresso service points, 33,464 Bradesco Dia & Noite ATMs and 14,739 Banco24Horas ATMs.
  16. Payroll, plus charges and benefits, totaled R$11.013 billion. Social benefits provided to the 100,489 employees of the Bradesco Organization and their dependents amounted to R$2.702 billion, while investments in training and development programs totaled R$126.836 million.
  17. For the ninth consecutive year, Bradesco was selected to compose the Corporate Sustainability Index (ISE) of BM&FBovespa – Securities, Commodities and Futures Exchange, which reflects the returns of a share portfolio comprising those companies with the best performance in all aspects of corporate sustainability.
  18. Major Awards and Acknowledgments in the period:
  • - Bradesco was considered the best bank in Latin America, ranking first among the 25 best banks in Latin America ( AmericaEconomia magazine);
  • - Bradesco was considered the largest private group in Brazil according to the Valor Grandes Grupos ranking, which ranks the country's 200 largest groups ( Valor Economico newspaper);
  • - Bradesco was recognized as the best Bank in Brazil (Best Developed and Emerging Markets Banks 2013 – Global Finance Magazine);
  • - Bradesco was considered the best bank in the 8th Best Companies for Shareholders Award ( Capital Aberto magazine / Stern Stewart do Brasil Advisory Services);
  • - Bradesco was leader of the Top MVP ranking as the company that most produces value from interaction with its stakeholders (Dom Strategy Partners Advisory Services);
  • - Winner of the Value Creation Award, promoted by Abrasca, aiming at stimulating good corporate governance practices;
  • - Winner of the first edition (2013) of the Top Case Award, in the Top Case Highlight category ( Case Studies – Insight Communication magazine);
  • - Bradesco was considered the best bank in people management, according to The Best in People Management survey ( Valor Carreira/ Valor Economico newspaper, with technical support of Aon Hewitt); and
  • - Grupo Bradesco Seguros was granted the Most Admired Companies in Brazil Award in the Corporate Healthcare Plan and Social Security categories ( Carta Capital magazine).

With regards to sustainability, Bradesco divides its actions into three pillars: (i) Sustainable Finances, focused on banking inclusion, social and environmental variables for loan approvals and product offerings; (ii) Responsible Management, focused on valuing professionals, improving the workplace and adopting eco-efficient practices; and (iii) Social and Environmental Investments, focused on education, the environment, culture and sports. In this area, we point out Fundacao Bradesco, which has a 57-year history of extensive social and educational work, with 40 schools in Brazil. In 2013, a budget of R$456.966 million benefited 101,781 students in its schools, in Basic Education (from Kindergarten to High School and Vocational Training - High School Level), Education for Youth and Adults; and Preliminary and Continuing Qualification focused on the creation of jobs and generation of income.

(1) According to non-recurring events described on page 9 of this Report on Economic and Financial Analysis; (2) Excludes mark-to-market effect of available-for-sale securities recorded under Shareholders' Equity; (3) Number of shares (excluding treasury shares) x closing price for common and preferred shares on the last trading day of the period; (4) Includes sureties and guarantees, letters of credit, advances of credit card receivables, co-obligations in loan assignments (receivables-backed investment funds and mortgage-backed receivables), co-obligations in rural loan assignments, and operations bearing credit risk – commercial portfolio, which includes debentures and promissory notes; and (5) In the last 12 months.

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