Profile: Banco Bradesco SA (BBD)
9 Dec 2016
Banco Bradesco S.A. (Bradesco), incorporated on January 5, 1943, is a commercial bank. The Company offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid‑sized and small companies, and local and international corporations and institutions. The Company operates and manages its business through two segments: the banking segment, and the insurance, pension plans and capitalization bond segment. In its banking segment, the Company offers a range of banking products and services to its clients, including deposit-taking, granting of loans and advance payments, debit and credit card services, and capital market solutions, through its distribution network. Its products and services comprise banking operations, such as loans and advances and deposit‑taking, credit card issuance, purchasing consortiums, insurance, leasing, payment collection and processing, pension plans, asset management and brokerage services.
As of December 31, 2015, the Company had a network consisting of 4,507 branches and 4,247 service centers and electronic in-company service centers, 31,527 automated teller machines (ATMs) of its own network, and 18,940 ATMs under the Banco24Horas brand for cash withdrawals, obtaining statements and account balance information, loans, collections, transfers between Bradesco accounts and accounts at other banks, consultation of proof of wages, consultation of checks paid and cleared, proof of life to National Social Security Institute (INSS) and pre-paid card services. As of December 31, 2015, it had a total of three branches and 11 subsidiaries located in New York, London, the Cayman Islands, Tokyo, Buenos Aires, Luxembourg, Hong Kong and Mexico. In order to meet the needs of each client, the Company offers a range of banking products and services, including deposit-taking with clients, including checking accounts, savings accounts and time deposits; loans and advances (individuals and companies, housing loans, microcredit, rural credit and leasing, among others; credit cards, debit cards and pre-paid cards; cash management solutions; public authority solutions; asset management; services related to capital markets and investment banking activities; intermediation and trading services; capital markets solutions; international banking services; import and export financing, and consortiums.
The Company offers a range of deposit products and services to its customers mainly through its branches, including non-interest-bearing checking accounts, such as Easy Account, Click Account and Academic Account; traditional savings accounts, and time deposits. As of December 31, 2015, the Company had outstanding personal loans, vehicle financings, and overdraft loans totaling Brazilian Real 80.1 billion, or 21.6% of its portfolio of loans and advances. Banco Bradesco Financiamentos (Bradesco Financiamentos) offers direct-to-consumer credit and leasing for the acquisition of vehicles through its network of correspondents in Brazil, which includes retailers and dealers of light and heavy vehicles, and motorcycles and payroll-deductible loans to the public and private sectors in Brazil. Under the Bradesco Promotora brand, the Company offers payroll-deductible loans to INSS retirees and pensioners and public-sector employees (federal, state and municipal), military personnel and private-sector companies sponsoring plans, and other aggregated products (insurance, cards and others). The Company offers a range of loans to its corporate customers based in Brazil, including short-term loans of 29 days or less; working capital loans to cover its customers' cash needs; guaranteed checking accounts and corporate overdraft loans; discounting trade receivables, promissory notes, checks, credit card and supplier receivables; financing for purchase and sale of goods and services, and investment lines for acquisition of assets and machinery.
Most of the Company's leasing operations are financial (as opposed to operational). The Company's leasing operations primarily involve the leasing of trucks, cranes, aircraft and heavy machinery. As of December 31, 2015, 58.7% of its outstanding leasing operations were for vehicles. The Company conducts its leasing operations through its primary leasing subsidiary, Bradesco Leasing S.A. Arrendamento Mercantil (Bradesco Leasing) and also through Bradesco Financiamentos. The Company extends microcredit to low-income individuals and small companies. The Company offers a range of credit cards to its clients, including American Express, Elo, Visa, MasterCard brands and private label cards. The Company offers a range of international services, such as foreign exchange transactions, foreign trade finance, lines of credit and banking. Its foreign branches and subsidiaries principally provide financing in foreign currency (particularly foreign trade finance operations) to Brazilian and non-Brazilian customers.
In addition to import and export financing, the Company's customers have access to a range of services and foreign exchange products, such as collecting import and export receivables; cross border money transfers; advance payment for exports; accounts abroad in foreign currency; domestic currency account for foreign domiciled customers; cash holding in other countries, and structured foreign currency transactions through its overseas units. The Company offers a range of products and services to its clients, including life, health, accident and vehicles and property insurance, both to individuals and companies; supplementary pension plans, individual and corporate, as well as the capitalization securities, through its distribution network. The Company offers insurance products through various entities, which the Company refers to collectively as Grupo Bradesco Seguros. The insurance products offered in its customer service channels, are life insurance and personal accident; health insurance; car insurance, property and casualty and responsibility; reinsurance; pension plans, and capitalization bonds. The Company sells its insurance products, pension plans and capitalization bonds through its Website, through brokers based in its network of bank branches, and non-exclusive brokers throughout Brazil, all of whom are compensated on a commission basis. Its capitalization bonds are offered through its branches, the Internet, its call center, ATMs and external distribution channels.
The Company provides various types of deposit and registration accounts, such as checking accounts; savings accounts; time deposits; interbank deposits from financial institutions; and accounts for salary purposes. As of December 31, 2015, its total deposits were Brazilian Real $195.8 billion.
The Company competes with Itau Unibanco Seguros S.A., Banco do Brasil, Santander Brasil, BB Seguridade, SulAmerica Seguros, Porto Seguro and Caixa Seguros e Zurich/Santander.
Banco Bradesco SA
Nucleo Cidade de Deus s/n, Vila
Company Web Links
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