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:

You May Also Like

Can Lula End Hunger?

John FitzpatrickBy John Fitzpatrick The beaming, benevolent face of Luiz Inácio Lula da Silva ...

Brazil Creates Close to 200,000 New Jobs in May, Less than April or May 2005

198,837 new formal jobs (with signed working papers) were created in May, in Brazil, ...

Brazil’s Unemployment Reaches Record Low in 2 years

Brazilian stocks are moving higher, although trading is tentative considering today’s shortened market session ...

Marina Silva Exposes Rousseff’s Vulnerabilities and Has a Real Chance to Become Brazil’s President

Brazilian environmentalist Marina Silva could unseat incumbent Dilma Rousseff in Brazil’s presidential elections in ...

Drought Leads Brazil to Increase Bolivian Gas Imports to Maximum Capacity

Persistent drought in the South is forcing Brazil to increase the amount of natural ...

Brazilian Shoemakers Wooing Russia

The annual earnings of Brazil’s footwear industry amount to US$ 10 billion. Each year ...

Market Analysts Keep Saying Brazil’s GDP Won’t Grow Over 3.5%

The Focus Bulletin, issued this Monday, February 20, by Brazil’s Central Bank (BC), indicates ...

Four-Year Graduate Course in Islamic Theology to Start in Brazil

The Muslim Beneficent Society of the Santo Amaro neighborhood, in the city of São ...

CFIF Wants U.S. to Stop Brazil from ‘Stealing US Patents’

While the U.S. Trade Representative’s Office this week announced a new initiative to end ...

Why Terror Won’t Bloom Here

Brazilians used the American tragedy to make fun of themselves. This is one of ...