Brazil’s Bradesco Bank Boosts Profit by 2.4% to US$ 2.6 Billion

Brazil's Bradesco Bank Bradesco, Brazil's biggest private bank, posted net income of 4.1 billion Brazilian reais (US$ 2.6 billion) in the first half of this year, according to information disclosed by the organization. The value represents growth of 2.4% over the same period in 2007.

The organization's loan portfolio reached 181.602 billion reais (US$ 115.973 billion) at the end of the semester, 38.8% greater than at the end of June 2007. Loans to individuals reached 65.872 billion reais (US$ 42 billion) while loans to corporate clients totaled 115.730 billion reais (US$ 73 billion).

Adjusted net income stood at 3.909 billion reais (US$ 2.5 billion) from January to June this year, representing growth of 11.5% over the same half in 2007.

Shareholders' equity stood at 33.711 billion reais (US$ 21.5 billion) in the first half of 2008, 22.5% growth over the first half in 2007 and 2.4% greater than in the previous quarter.

Return on average equity dropped from 31.5% to 27.2%. Bradesco's total assets under management, comprising investment funds, managed portfolios and third party Funds rose to 184.385 billion reais (US$ 117,750 billion), growth of 14.3% in 12 months.

Total assets in June 2008 stood at 403.271 billion reais (US$ 257.533 billion), an increase of 38.8% in relation to June 2007 and 13.4% over the previous quarter.



  • 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Your email address will not be published.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.


You May Also Like

Brazil’s Backstage Efforts to Push Belo Monte Through

Following judicial battles that left at least two court injunctions overturned, the April 20 ...

For Brazil, Amazon is for All to Use and to Help

Brazil’s Minister of Foreign Relations, Celso Amorim, emphasized the importance of cooperation between all ...

Brazilian Petrobras Stops Distribution of Gas and Diesel in Bolivia

Petrobras announced that as of July 1st it will no longer be a retail ...

Need for Fertilizer Boosts Brazil’s Chemical Imports by 200%

Imports of chemical products by Brazil from the countries in the League of Arab ...

Brazil’s Nanoscale Research Gets a Hand from American Firm

Brazil’s National Institute of Metrology, Standardization and Industrial Quality – INMETRO – has selected ...

Brazil Convention: Countries Far from Consensus on Traditional Knowledge

The protection of traditional knowledge is one of the main themes that have been ...

Chavez Rewards Brazil with a US$ 1 Billion Deal for Venezuela’s Mercosur Entry

The president of Brazil Dilma Rousseff and her colleague Hugo Chavez of Venezuela signed ...

Brazil Draws a Road Map for Its 10 Frontiers

The Brazilian government is studying the implementation of development policies for frontier regions. According ...

Oil Industries Big Boys Meet in Brazil for the Rio Oil & Gas Conference

The Brazilian company Hydroclean, from the southeastern state of Minas Gerais, headquartered in the ...