Brazil’s Bradesco Gets R$ 1.2 Billion Net

Banco Bradesco  posted a net income of R$ 1,205 billion in the first quarter (equivalent to 2.45 reais per stock), compared to a net income of 609 million reais in last year’s first quarter, i.e., up by 97.9%.

The net income posted for this period was 13.9% superior compared to the R$ 1,058 billion of the fourth quarter of 2004. This result represents a 34.7% annualized Return on the average Stockholders’ Equity for the quarter (31.7% in 4Q04).


In the first quarter of 2005, 64% of Bradesco’s net income was originated from financial activities and 35% from Insurance, Private Pension Plans and Savings Bonds activities.


The accounted gain related to the sale of the stake in Belgo-Mineira’s capital stock, as disclosed in RI Express on February 10, 2005, was fully absorbed by extraordinary provisions constituted in the quarter; therefore, not impacting the result.


Financial margins reached R$ 3.999 billion in 1Q05, increasing by 20.1% in the last 12 months, and by 13.7% when compared to 4Q04. Fee Income grew by R$ 342 million between March 2004 and 2005, totaling R$ 1.661 billion.


In the comparison between 4Q04 and 1Q05, fees evolved by R$ 33 million (adjusted by the additional month of fees from Visanet, which had impacted 4Q04 by R$ 47 million).


Bradesco’s Efficiency Ratio for the accumulated 12 months keeps presenting a consistent improvement, reaching 59.0% in 1Q04, 55.5% in 4Q04 and, finally, 52.7% in 1Q05.


In line with the policy of adding shareholders value, Bradesco paid, or accrued, R$ 366.2 million in Interest on Own Capital in 1Q05 (R$ 326.1 million in 1Q04 and R$ 340.5 million in 4Q04).


On March 1st, Bradesco increased by 21.12% the monthly amount of Interest on Own Capital paid as from April/2005, as following: R$0.04706 to R$0.057 (net of Withholding Income Tax – R$ 0.04845), for the common stocks and R$0.051766 to R$0.0627 (net of Withholding Income Tax – R$ 0.053295), for the preferred stocks.


Bradesco’s Market Capitalization surpassed the R$ 35.5 billion mark, increasing by 75% between March 2004 and March 2005, against the 20.2% evolution of the Ibovespa in the same period, and by 24.3% in the quarter, vis-í -vis the 1.6% of the Ibovespa.


Bradesco
www.bradesco.com.br


PRNewswire

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Wider Use of Air Conditioning in Brazil Pushes Energy Consumption Up

Electricity consumption in Brazil totaled 28.6 gigawatt-hours in February, a 5.5% increase in comparison ...

Can’t You Hear My Scream?

Pará is the poster state for Amazon destruction, injustice and violence. The last decade ...

Jazz Great Brazilian Eliane Elias Wishes to Perform in Brazil. If Only They Invited Her

Over a career that has spanned almost three decades as a recording artist, Brazilian-born ...

Don’t Expect Lower Interest Rates, Warns Brazil’s Finance Minister

Guido Mantega, the Finance minister of Brazil, told reporters this Tuesday, September 2, that ...

Jewish Leader Lambasts Israel’s Spokesman for Brazilian Criticism

Brazil’s Jewish community leader apologized to the administration of Brazilian President Dilma Rousseff for ...

Brazil Exports Reach US$ 112 Billion, Imports US$ 83 Billion

Brazil's trade balance surplus (exports minus imports), in the third week of September, between ...

Brazil’s Surplus Grows to US$ 16 Billion for the Year

Brazilian exports added up to US$ 1.108 billion in the first two working days ...

Brazil Teaches the US One or Two Things on Electronic Election

The president of Brazil’s Federal Electoral Court (TSE), Minister Carlos Velloso, the secretary of ...

Brazil’s Reserves Fall Close to US$ 1 Billion

Brazil’s total current accounts (covering all international financial transactions) had a surplus of US$ ...

Rice and Meat Boost May Prices 0.79% in Brazil

Brazil's consumer prices rose 0.79% in May, the fastest pace in more than three ...