Banco Bradesco S.A. - ADR

Strong Financial Performance: Bradesco reported a recurring net income of BRL 6.5 billion in Q4 2025, reflecting a 20.6% year-on-year growth and a full-year income of BRL 24.7 billion, up 26.1% from the previous year. The bank achieved a return on average equity (ROAE) of 15.2%, exceeding its cost of capital for the first time.

Growth in Digital and Affluent Segments: The bank aims to significantly increase its fully digital client base from 19 million to approximately 40 million by 2026. Additionally, they upgraded over 3.1 million clients in the affluent segments (Principal and Prime), projecting further growth to 4.7 million clients in these segments over the next year.

Market Positioning and Profitability: Bradesco is the market leader in SME lending, having increased its market share from 14.3% to 16.6% in this sector. The bank's gross loan portfolio showed a solid rise of 14.9% year-on-year, with micro, small, and medium-sized enterprises growing by 21.3%. The bank plans to maintain competitiveness through strategic pricing and risk management.