EL7.AI
StocksMediumUpdated×2•Originally published 23 October 2026•Updated 23 October 2026•
2 min read

Bradesco Raises Return on Equity to 15.6% in Third Quarter

Key Facts

1Return on average equity was 15.6% in the third quarter of 2026, compared with 14.7% a year earlier.
2The loan portfolio reached 1.15 trillion Brazilian reals, up 11.1% year on year.
3The more-than-90-day delinquency ratio rose to 4.6% from 4.1% a year earlier.
4Loan-loss provisions totaled 10.6 billion Brazilian reals, up 24.3% year on year.
5The new buyback program covers up to 106.6 million shares and begins in November 2026.

Bradesco raised its return on average equity to 15.6% in the third quarter of 2026, compared with 14.7% a year earlier, according to Reuters. The bank said the return would have been 16.1% excluding its recent 10 billion Brazilian real capital increase. The adjustment puts the impact of the capital increase in context when assessing the return achieved during the period. Meanwhile, the bank kept its 2026 forecast unchanged, Reuters reported. This came as credit data showed loan portfolio growth alongside increases in delinquency indicators and loan-loss provisions.

The loan portfolio reached 1.15 trillion Brazilian reals in the third quarter, up 11.1% year on year, according to Reuters. But the ratio of loans more than 90 days overdue rose to 4.6%, from 4.1% a year earlier. Loan-loss provisions totaled 10.6 billion Brazilian reals, up 24.3% year on year. These figures combine an expanding lending base with rising delinquencies and provisions during the period. The available evidence did not identify the reasons for the increase in defaults or provisions, so it does not attribute them to any particular factor.

On revenue, Chief Executive Marcelo Noronha said growth in credit-related revenue slowed, but non-credit revenue and cost discipline offset that. He added: "We saw slower growth in our credit-related revenue, but this was offset by non-credit revenue and strong cost control." His statement offers management's explanation of how it countered the slowdown in a source of credit revenue. Reuters also quoted Noronha as saying the bank maintained a cautious approach and moderate risk appetite amid a challenging macroeconomic environment in Brazil. He pointed to a tighter credit market, high interest rates and a slowing economy.

Bradesco renewed its share buyback program, with the new program set to begin in November 2026 and cover up to 106.6 million shares, according to Reuters. EL7 data showed the bank's stock, listed under ticker BBD, closed at $3.95 on October 22, compared with $4.05 on October 21 and $4.08 on October 20. It also closed at $3.96 on October 16 and $3.94 on October 19. The results were announced after the market close on October 22, so those prices reflect closes before the announcement and do not reflect subsequent trading. The bank scheduled its investor call for October 23, according to its official investor calendar.