Banco Bradesco (BBDC4) Q2 2026 earnings summary

Executive summary

• Net income reached R$7.1 billion in Q2 2026, up 16.2% year-over-year and 3.5% quarter-over-quarter, marking ten consecutive quarters of growth and surpassing market expectations.

• Loan portfolio expanded 11.6% year-over-year to R$1,137 billion, with strong growth across all segments, especially SMEs and large corporates.

• Revenues rose 10.3% year-over-year, supported by diversification and digital transformation initiatives that enhanced resilience and efficiency.

• Transformation and digital initiatives, including Meu Bradesco and BIA GenAI, accelerated competitiveness and digital client base growth.

• Insurance business delivered consistent results, with net income up 28.3% year-over-year and claims ratio under control.

Financial highlights

• Total revenue was R$37.6 billion in Q2 2026, up 10.3% year-over-year and 2.1% quarter-over-quarter; net interest income reached R$20.9 billion, up 15.7% year-over-year.

• Fee and commission income totaled R$10.5 billion, up 1.7% year-over-year; insurance segment net income was R$2.9 billion with ROAE of 22.8%.

• Operating expenses rose 3.4% year-over-year, below inflation, with efficiency gains from digital transformation.

• Market NII grew 21.7% year-over-year, driven by treasury and ALM performance.

• Asset management AUM grew 9.0% versus industry 2.6% in 1H26.

Outlook and guidance

• Management expects to deliver results at or above the midpoint of guidance across all five key lines, with net income growth targeted each quarter.

• Insurance results are expected to normalize in the second half, aligning with guidance midpoint.

• NIM projected to remain flat at around 9% for the year.

• Continued focus on secured lending, high risk-adjusted return lines, and sustainable business strategy.

• Transformation plan to further enhance competitiveness and efficiency.