Banco Bradesco S.A. (Bradesco), together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally.
The bank offers a wide range of banking and financial products and services in Brazil and abroad to individuals, micro, small, medium-sized and large enterprises and major local and international corporations and institutions. Its products and services consist of banking operations such as: loans and advances, de...
Banco Bradesco S.A. (Bradesco), together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally.
The bank offers a wide range of banking and financial products and services in Brazil and abroad to individuals, micro, small, medium-sized and large enterprises and major local and international corporations and institutions. Its products and services consist of banking operations such as: loans and advances, deposit-taking, credit card issuance, purchasing consortiums, insurance, capitalization, leasing, payment collection and processing, pension plans, asset management and brokerage services, among others.
Segments
Bradesco is a bank that provides multiple services within two segments: banking and insurance.
The banking segment includes a range of banking activities, serving individual and corporate customers in the following operations: investment banking, national and international banking operations, investment fund management and consortium administration.
The insurance segment covers life, pension, health and non-life portfolio.
The retail banking products include demand deposits, savings deposits, time deposits, mutual funds, foreign exchange services and a range of loans and advances, including overdrafts, credit cards and loans with repayments in installments. The services provided to corporate entities include fund management and treasury services, foreign exchange operations, corporate finance and investment banking services, hedge and finance operations including working capital financing, lease and loans with repayments in installments. These services are provided, mainly, in domestic markets, but also include international services on a smaller scale.
Recent Acquisitions
On May 8, 2024, Atlântica Hospitais e Participações S.A. (Atlântica), a company indirectly controlled by Bradesco and by Bradseg Participações S.A. (a member of the Grupo Bradesco Seguros - its Group's insurance division), signed an Investment Agreement with the Rede D´Or São Luiz S.A. group (Rede D´Or) for the creation and joint action in a new hospital network (Atlântica D’Or).
On November 1, 2024, Atlântica, signed an Investment Agreement with the Rede D´Or to include Hospital São Luiz Campinas in the Atlântica D´Or hospital network, thus expanding the partnership firmed with the Rede D´Or, on May 8, 2024.
On July 31, 2024, after fulfillment of the applicable conditions, the company completed the merger of its direct subsidiary, Bradesco Asset Management S.A. Distribuidora de Títulos e Valores Mobiliários (BRAM), as approved by its shareholder’s meeting held on March 11, 2024.
Business strategy
In February, the company announced its strategic plan aimed at streamlining its operation and management model, fostering greater autonomy and enhancing agility decision making.
This ambition translates into the following aspirations: physical bank with adequate cost and focused on high return clients; efficient digital bank with humanized experience and ai; operational efficiency that ensures competitiveness and return; capture of greater market share in the main segments; focus on new customer experience; transformative culture; and faster time to market.
The company has adjusted its organizational structure by creating Business Units (BUs): Wholesale, Wealth, Retail, Digital Business, Credit and Treasury and Economic Research, as well as Specialized Support Units, to accelerate decision-making and increase customer-centricity.
All BUs have established dedicated client-focused areas responsible for defining value propositions, maintaining economic balance and coordinating products and channels. Wholesale, Wealth, Retail and Digital Business BUs are responsible for serving its clients in different segments.
In Retail, the company is adjusting its service model to better align with client preferences, balancing financial sustainability, while ensuring customer-centricity and profitable growth of the client base.
In Wealth, the company launched Bradesco Principal, a new client segment with an aspirational value proposition aimed at client engagement, portfolio enhancement and increasing its number of clients serviced remotely.
In the Credit BU, the company integrate all the stages of the credit cycle to leverage data more effectively, adopt a holistic client approach and incorporate new technologies, reinforcing credit as a key competitive aspect of its services.
Strategic Planning
Optimization of its fast-paced footprint, with increased activation of its digital channels and the new Bradesco Expresso platform; To adopt a more client focused approach to the company’s decisions, it promotes the revitalization and inclusion of new features in its App, reorganizing its product areas to be more integrated and focused on the needs of clients, as well as initiatives, such as EscutaBRA and the client council; Entering into a strategic partnership agreement with Banco John Deere S.A., to further strengthen its position in the agribusiness segment, enabling synergy and cross-sell gains; Launch of the company’s new Bradesco Principal segment in the third quarter of 2024, offering a comprehensive portfolio of solutions, a fresh service concept, and a differentiated value proposition for high-income clients; and Acquisition of 20% stake in Grupo Santa and the creation of the new Atlântica D’Or hospital network, both key strategic moves for its Insurance Company.
Inovabra
Inovabra is the company’s corporate venture to fund strategic investments, and it aims to create opportunities for the progress of people and the sustainable development of companies and society. In this way, the company creates an innovation ecosystem, the Inovabra, capable of supporting and inspiring the institution, creating paths and conditions that put it at the forefront of financial and non-financial products and services.
The company works on three fronts: accelerate new features or improvements in existing products; foster new products and services within existing businesses; and explore, suggest and experiment with emerging technologies.
Banking
In the company’s banking segment, it offers a range of products and services to its clients including deposit-taking, granting of loans and advance payments, debit and credit card services and custody, through its extensive distribution network.
The company has a diverse client base that includes individuals and small, medium-sized and large enterprises in Brazil.
Clients
As of December 31, 2024, the company’s client base was composed of 73.2 million clients.
Companies
Bradesco Corporate
Bradesco Corporate is responsible for serving business groups and is focused on both large and medium-sized enterprises. Based on a value proposition of physical proximity and fostering client relationships, its offices are located in the main financial centers on the national and international scene, offering customized services and a highly skilled team to fulfill clients’ needs through a wide portfolio of products, structured solutions and financial services.
To provide these solutions, it is important to strengthen the relationship with clients and to deliver a robust value proposition. Bradesco Corporate is segmented according to sector, market, size and nature of its client companies, among other criteria, and consists of the following areas:
Corporate: Client segment aimed mainly at the middle market, with specialized service.
Large Corporate: Offers a specialized service structure for large companies, with customized operations by market sector.
Ultra Corporate: With a highly qualified team, and a sector-based approach, this segment offers customized consultancy to large corporations on a national and global basis.
Global Corporate: The company’s Global Corporate business unit is targeted at global companies with Brazilian subsidiaries, with customer service offices in Brazil and subsidiaries in Hong Kong, Luxembourg and New York. It provides a differentiated service, with specialized professionals, financial solutions and services for a better operation in the country; and
Corporate Agribusiness: Responsible for serving Individual and Corporate clients, mainly with activities focused on Agribusiness.
Bradesco Institutional
Bradesco Institutional centralizes relationships with asset managers, investment funds, pension foundations, pension funds, brokers, securities distributors and the investment arm of insurance companies. In addition, it promotes synergy with across several products and services of the Group, such as Investment Banking, Global Markets, Treasury, Custody and Financial Services, Exchange, and Credit, among others.
Bradesco Empresas e Negócios and Individual Microentrepreneur (MEI)
Bradesco Empresas e Negócios is a client segment prepared to meet the needs of micro, small and medium-sized enterprises.
Bradesco Empresas e Negócios offers business management solutions and includes specialized professionals who assist companies. The service is available through its Retail Branch Network or Bradesco Empresas e Negócios Branches and its Companies Digital Platform or MEI Digital Branch.
The company’s solutions, including loans, financing, investments and business specialist in activities related to foreign trade, foreign exchange and cash management, consortia and insurance, aim to satisfy its clients and support their growth.
The client subsegments MEI, Business, and Companies serve the profiles of companies
MEI: It has an exclusive branch to serve micro-entrepreneurs, with 100% digital and humanized services, trained professionals, who understand such customers’ needs and challenges, providing personalized service, offering credit solutions, receipts and day-to-day banking operations;
Business: Aimed at small and medium-sized companies with a wide service network distributed throughout the country. Bradesco Negócios offers many of the banking solutions that companies need, such as credit lines, financing, payment services, investments and, above all, service from managers; and
Companies: The companies client segment is aimed at medium-sized companies.
Individuals
Bradesco Global Private Bank
Bradesco Global Private Bank offers exclusive, personalized service and works side-by-side with clients to preserve and manage family wealth and provide support for future generations.
Bradesco Global Private Bank designs innovative solutions to meet clients’ individual objectives and needs, and has a complete Wealth Management structure, which involves liquid and illiquid assets and investment structures for the perpetuation of wealth.
Bradesco Global Private Bank has exclusive service in Miami through Bradesco Bank and in Luxembourg through Banco Bradesco Europa S.A.
Bradesco Principal
Bradesco Principal is the client segment dedicated to high-income individuals, launched in 2024 and to be rolled out across Brazil. Designed to deepen client relationships, it offers a value proposition built on solid pillars:
Dedicated Customer Service: With a Relationship Manager who acts as a financial concierge, Bradesco Principal connects clients to tailored banking solutions.
Customized Investments: An Investment Advisor offers the best opportunities, aligned with each clients’ financial profile and life stage, combining its proprietary funds with the open investment plaftform of Ágora Corretora e Previdência (Broker and Pension).
Exclusive Products: It offers a portfolio of exclusive products, such as the Bradesco Principal credit card, which provides access to VIP rooms with free advanced reservation and fast pass.
International Account: It offers a full-service American checking account with debit and credit card, investment opportunities and real estate financing in the United States.
Benefits Program: It includes digital protection insurance at no cost for 12 months from the date of contracting, discounts on purchases and travel, exemption of toll tags, up to 15 days interest-free in the overdraft, and extended service to the family group, among others.
Bradesco Prime
Operating across Brazil, Bradesco Prime is focused on quality of service and the provision of appropriate solutions for its users through its well-trained teams that add value to shareholders, within ethical and professional standards. Besides a broad network, it has exclusive platforms to serve digital clients.
Throughout its existence, the Bradesco Prime has invested in technology, the improvement of relationships and the training of its professionals, which has resulted in it holding a prominent position in the Brazilian market of banking services for high-income clients and has consolidated its position as one of the largest banks in the client segment.
Bradesco Exclusive
Bradesco Exclusive is aimed at average-income individuals. Operating throughout Brazil, its main focus is the quality of its customer service and the provision of appropriate solutions according to the client’s current life circumstances.
The company's clients are constantly evolving, so it offers exclusive services to make their lives easier. The company's relationship managers are prepared and willing to enhance client experiences, understand their situations, and connect them to the best solutions.
The company offers various alternatives for clients to carry out their projects, organize their financial lives, protect their loved ones and assets, or even investment advisory services, with direct scheduling through the app.
Additionally, the company's clients decide the best way to be served. The company offers service options that aim to provide convenience, such as the Bradesco App, Internet Banking, and BIA (Bradesco Artificial Intelligence) via WhatsApp.
Bradesco Classic
Bradesco Classic is centered upon financial inclusion and is directed at its individual clients. Clients in this segment will have an easy access bank, a wide range of products and services, and numerous solutions that ensure ease and security in their daily lives, such as the Bradesco App, which makes going to the bank much more practical and safer.
Non-Account Holders
The Non-Account Holders area was created to strengthen the relationship with individual and corporate clients who purchased at least one of the company's products, except for checking accounts. By identifying the client’s profile and portfolio combination, the company seeks to provide financial products with personalized offerings through both physical and digital channels.
Products and Banking Services
Deposit accounts
The company offers a variety of deposit accounts to its clients, including:
checking accounts, such as:
Conta Fácil (Easy Account) – a checking account and a savings account with the same bank account number, accessed by the same card, for individuals and legal entities;
Click Conta (Click Account) – checking accounts for children and young people from 0 to 17 years of age, with an exclusive website, debit card, automatic pocket money service, free online courses and exclusive partnerships, among other benefits;
Conta Universitária (Academic Account) – low fee checking account for college students, with subsidized credit conditions, student loans, an exclusive website, free online courses and exclusive partnerships, among other benefits; and
Conta Corrente (Checking Account) – accounts intended for companies and public entities of a specific legal nature, which do not have a linked savings account.
traditional savings accounts, which currently earn interest at the Brazilian reference rate, or taxa referencial (TR), plus 0.5% monthly interest if the SELIC rate target is higher than 8.5% p.a., or TR plus 70.0% of the SELIC rate target if the SELIC rate target is equal to or lower than 8.5% p.a.; and
time deposits, which are represented by Bank Deposit Certificates (certificados de depósito bancário or CDBs) and earn interest at a fixed or floating rate.
Loans and Advances to Customers
Financing and Onlending
Financing for Export and Import
The company’s Brazilian foreign-trade-related business consists of providing financial services to its clients in their export and import activities.
In import financing/refinancing, the company directly transfer funds in foreign currency to foreign exporters, fixing the payment in local currency for Brazilian importers. In export financing, exporters obtain advances in reais on closing an export forex operation in exchange for future receipt of foreign currency on the contract due date. Export financing can be carried out in the pre- or post-shipment/execution stages, and are referred to as an Advance on Exchange Operations, or AOCs, when the resources received are used in the manufacture of the goods or execution of services to be exported, or as a way of anticipation of sales made on deferred goods or services already shipped or executed.
There are other forms of export financing, such as Export Prepayments, onlendings from BNDES-EXIM funds, Export Credit Notes and Bills (referred to locally as NCEs and CCEs), and Export Financing Program with rate equalization – PROEX.
The company's foreign trade portfolio is funded primarily by credit lines from correspondent banks. It maintains relationships with various American, European, Asian, and Latin American financial institutions for this purpose, utilizing its network of correspondent banks abroad, of which offered credit and guarantee lines as of December 31, 2024.
Real Estate Financing
Real Estate Financing are provided for: (i) the acquisition of residential and commercial real estate, and plots of land; and (ii) the construction of residential and commercial developments.
BNDES/Finame onlending
BNDES is the bank used by the Federal Government to support entrepreneurs of all sizes, including individual rural producers in carrying out their plans for modernization, expansion and implementation of new businesses, with the aim of generating jobs, income and social inclusion in Brazil. Its portfolio has certain products and programs to provide government-funded long-term loans with different interest rates, focusing on economic development. The company is one of the structuring agents of BNDES funds, lending to borrowers in several sectors of the economy. The company determines the margin of return on the loans based on the borrower’s credit.
Vehicle loans
Vehicle Loans are granted for the purchase of light and heavy vehicles, both new and used, to individuals and legal entities. The company offers these products through its branch network, via the Bradesco App in a totally digital process, and Bradesco Financiamentos, being in direct contact with clients and business partners for the acquisition of light vehicles, motorcycles, trucks, buses, machinery and equipment.
Leasing
Financial leasing involves trucks, cranes, aircraft, ships and heavy machinery. In this same period, 6.0% of its transactions were for aircraft. The company conducts its leasing transactions through its primary leasing subsidiary, Bradesco Leasing.
Borrowings
Personal Loans / Payroll-Deductible Loans
Personal loans are loans with a pre-approved limit for an unspecified purpose. Payroll-deductible loans are available to INSS pension plan beneficiaries and retirees, to public servants and to the private sector.
Credit card
The company offers a comprehensive range of credit cards to its clients including Elo, American Express, Visa, MasterCard and private label cards, which stand out due to the extent of benefits and convenience offered to associates.
The company offers its clients a complete line of credit cards and related services, including: credit cards for different audiences for purchases and withdrawals in Brazil and abroad; credit cards directed toward high-net-worth clients, such as The Centurion Card Bradesco, The Platinum Card, Visa Infinite, Mastercard Black, Elo Nanquim, Elo Diners and Visa Aeternum from Elo, Visa, American Express and MasterCard brands; cards destined for corporate clients, geared toward business expenses and control of expenditure; multiple cards that combine credit and debit features in a single card, which may be used for traditional banking transactions and shopping; co-branded credit cards, which it offers through partnerships with companies; and private label credit cards, which the company only offers to clients of certain retailers, designed to increase business and build client loyalty for the corresponding retailer. These cards may or may not have a restriction on making purchases elsewhere, among other restrictions.
Overdraft
The overdraft is a revolving credit facility available for use with the checking account, which allows greater availability of financial resources in the case of withdrawals, transfers, honoring of payments and other debits, where the client’s own resources are not sufficient.
Conta garantida (guaranteed account)
Conta garantida is a revolving credit facility for legal entities and individuals to meet short-term needs. The limit of the conta garantida allows for the negotiation of more attractive rates. However, in most cases, it requires a guarantee which can be a surety, disposal of assets, guarantees of contracts or anticipation of receivables, and investments, among others.
Cash Management Solutions
Management of accounts payable and receivable – In order to meet the cash management needs of the company’s clients in both public and private sectors, it offers a broad portfolio of high-quality products and services of accounts payable and receivable, supported by its network of branches, banking correspondents, digital channels and the Bradesco App, all of which provide more speed, stability and security for client data and transactions. The company’s solutions include receipt and payment services and resource management, enabling its clients to pay suppliers, salaries, and taxes and other levies to governmental or public entities.
Global Cash Management – Global Cash Management aims at structuring solutions for foreign companies that want to operate in the Brazilian markets and for Brazilian companies conducting business in the international market. By way of customized solutions, partnerships with international banks and access to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network, its exclusive client service team offers customized products and services to identify solutions for companies. In addition, the Global Cash Management area centralizes the receipt of all Formal Requests for Proposals (RFPs) of corporate clients, coordinating together with the other departments of the bank the drafting of technical and commercial proposals to send to the clients, as well as the centralization of public authority bids for cash management services.
Niche Markets – The company operates in various niche markets, such as franchises, condominiums, education and notary offices, among others, where its clients have the support of a specialized team with the mission of structuring customized solutions that add value to their business.
Public Authority Solutions
The company has a specific area dedicated to serving the public administration, which offers specialized services to identify business opportunities and structure customized solutions to entities and bodies of the Executive, Legislative and Judiciary branches at federal, state and municipal levels, in addition to independent governmental agencies, public foundations, state-owned and mixed companies, the armed forces (army, navy and air force) and the auxiliary forces (federal and state police forces).
The company’s exclusive website, developed for its clients, offers corporate solutions for federal, state and municipal governments for payments, receipts, human resources and treasury services.
The company’s commercial relationships with such public authorities are conducted by specialized business managers located in distribution platforms throughout the country, which can be identified on its website. The company has nine Specialized Platforms to assist governments, capitals, courts, class councils, chambers, prosecutors, public defenders and the largest municipalities based on GDP, and 30 Platforms providing services to the City Halls and other Authorities.
The company provides fiduciary administration services to investments funds and managed portfolios, with regulatory responsibility for operation of investments funds.
Bradesco Asset also conducts management of third-party resources, being responsible for investment decisions: mutual funds; managed portfolios; exclusive funds; FIDCs (Receivable Funds); FIIs (Real Estate Investment Funds); ETFs (Exchange Traded Funds); and FIPs (Private Equity Investment Funds).
Management of funds and portfolios – As of December 31, 2024, Bradesco Asset managed 1,787 funds and 458 portfolios, providing services to 3.5 million investors. These funds comprise a wide group of fixed-income, non-fixed income, investments abroad and multimarket funds, among other types.
Administration of third-party funds – On December 31, 2024, the company provided administration services to 4,386 funds, 481 portfolios and 47 investment clubs, providing services to 3.9 million investors.
Services related to capital markets and investment banking activities
As the company’s investment bank, Bradesco BBI is responsible for originating and executing project financing operations; originating and executing mergers and acquisitions; originating, structuring, syndicating and distributing fixed income securities in Brazil and abroad; and originating, structuring, syndicating and distributing issuances of securities of equity in Brazil and abroad.
Mergers and acquisitions – Bradesco BBI provides advisory services in merger and acquisition and corporate purchase and sale transactions, including the sale of companies and assets, private placements, creation of joint ventures, financial and corporate restructuring, and privatizations.
Equity – Bradesco BBI coordinates public offerings of shares in national and international markets.
Operations in the Local Market – Bradesco BBI ended the year having coordinated 238 transactions in the local fixed income market.
Project finance – Bradesco BBI acts as advisor and structuring agent in the areas of Project and Corporate Finance, seeking to optimize financing solutions for projects across various industries through both credit and capital markets operations.
Structured operations – Bradesco BBI structures customized financial solutions for its clients based on their needs, by offering a number of funding tools to companies. Such tools include: investments, acquisitions, corporate reorganization, share repurchase, improved financial ratios, capital structure streamlining, and assets and risk segregation. Additionally, Bradesco BBI has a strong presence in the acquisition finance segment.
Operations in the International Market – Bradesco BBI also featured in the international capital market.
Investment Advisory
The company offers to its clients an exclusive investment advisory services, remotely and in person, contemplating the products of Bradesco Asset, Ágora Investimentos, Treasury and the entire Bradesco Previdência portfolio. In addition to having the service of the managers of the branch network, the company has a team of investment specialists, who are available to its clients through telephone, online chat in the Bradesco App or in the Internet Banking.
Intermediation and Trading Services
Ágora Investimentos
Ágora, its official brokerage, is a complete ecosystem of financial solutions for investors in the retail and Institutional segments.
In the retail vertical, its complete and open platform serves both the company’s checking account holders and non-account holders. With a broad portfolio of products – there are more than 1,700 alternatives – from market institutions, its Individual clients access opportunities in fixed income, variable income, investment funds, shares, public offerings and private pension.
As of December 31, 2024 it reached 1.2 million clients.
On the Institutional side, it offers a complete investment analysis service, covering the main sectors and companies in the Latin American market, and has as its objective the mediation of the purchase and sale of shares, commodities futures contracts, financial assets, indexes, options, share rental, swaps and forward contracts, in the primary and secondary markets, and negotiations in B3 and in the organized over-the-counter market, which are tailored to the needs of large corporate and institutional investors.
Custody and Financial Services
In the year ended December 31, 2024, the company was one of the main service providers for the local and international capital market, holding a prominent position for leadership in qualified custody of securities in the domestic and global market according to ANBIMA. The company also won an award from Revista Global Finance for the second consecutive year as the best sub-custodian bank in Latin America for non-resident investors.
Among the main services the company offers are: fiduciary administration for investment funds, qualified custody of securities for funds, clubs and investment portfolios, representation and custody for non-resident investors, custody of shares for the guarantee of depositary receipts; asset and liability controllers for investment funds and investment clubs; asset bookkeeping (shares, Brazilian Depositary Receipts (BDRs), quotas of investment funds, certificates of real estate receivables (CRIs), certificates of agribusiness receivables (CRAs) and debentures); registering bank for loan of shares, liquidating bank, escrow account-trustee, qualified agent for guarantees in the energy market in the scope of the electric energy trade council (CCEE) and clearing agent.
International operations
As a private commercial bank, the company offers a wide range of international services, such as foreign trade finance, foreign currency working capital, foreign exchange operations and international sureties for individuals and legal entities through its Corporate and Global Private Banking platforms. The service to multinational companies is materialized both by supporting foreign multinationals operating in Brazil or Brazilian companies with operations abroad, and in acting as the main communication link between prospective multinational clients and Bradesco Brasil.
The company’s International and Foreign Exchange Area in Brazil and abroad coordinates its international transactions, through a team of experts in foreign exchange and foreign trade business, providing technical support to its clients and to the Wholesale and Retail segments, for exchange products, Trade Finance (financing for export and import), financial transfers and Direct External Loans. The company also has a team specialized in structured operations (syndicated loans, club deals, risk participations, bridge facilities, among others) and international guarantees, in addition to Digital Exchange, a team dedicated to customer service that use its digital channels (Net Empresa, mobile and internet banking) to contract foreign exchange operations.
Foreign branches and subsidiaries
The company’s foreign branches and subsidiaries principally provide financing in foreign currency (particularly foreign trade finance operations) to Brazilian and non-Brazilian clients.
Bradesco Securities (U.S., U.K. and H.K.) – Bradesco Securities, the company’s wholly-owned subsidiary, is a broker dealer in the United States, England and Hong Kong:
Bradesco Securities U.S. focuses on facilitating the intermediation of operations of fixed income and variable income of Brazilian companies for global institutional investors; raising of short-term funds, placement of Equity Capital Market (ECM) and Debt Capital Market (DCM) operations; distribution of research reports and corporate access services;
Bradesco Securities U.K. focuses on the intermediation of equities and fixed income operations for Brazilian companies with global institutional investors; short-term fund-raising activities for it in Euro Certificate of Deposit (Euro CD) program and Global Medium-Term Note program (MTN); and sale of research reports and services of corporate access by subscriptions to institutional investors in Europe; and the sale of variable-income and fixed-income regional transactions to European institutional investors (IPOs, secondary public offerings, etc.); and
Bradesco Securities H.K. focuses on the trading of ADRs and public and private securities issued by Brazilian companies to global institutional investors.
Bradesco Trade Services – A non-financial institution and a subsidiary of the company’s branch in the Cayman Islands, which it incorporated in Hong Kong in January 2007, in partnership with the local Standard Chartered Bank.
Bradescard Mexico – The business unit of a credit card issuer.
Bradesco Bank – A commercial bank in the United States with deposits guaranteed by the FDIC, providing banking products and services to resident and non-resident individuals, and corporate and institutional clients.
Bradesco Investments Inc. – A broker dealer that offers a complete and open platform of investments to Private, high-income, corporate and institutional clients.
Bradesco Global Advisors Inc. – An investment advisory firm that manages discretionary and non-discretionary portfolios for Private and high-income clients.
Banking operations in the United States
The United States Federal Reserve Bank authorized the company to operates as a financial holding company in the United States. As a result, it may do business in the United States directly or through a subsidiary and, among other activities, may sell insurance products and certificates of deposit, provide underwriting services, act as advisors on private placements, provide portfolio management and merchant banking services and manage mutual fund portfolios.
Foreign exchange products
In addition to import and export financing, the company’s clients have access to a range of services and foreign exchange products such as: foreign loans to clients; working capital abroad; web and mobile exchange operations; collecting import and export receivables; cross border money transfers; advance payment for exports; accounts abroad in foreign currency; non-resident checking account in Brazil in domestic currency; cash holding in other countries; structured foreign currency transactions; through its overseas units; service agreements – receiving funds from individuals abroad via money orders; global accounts in American dollars (individuals); purchasing and selling of currency paper; cashing checks denominated in foreign currency; and clearance certificate (international financial capacity certificate).
Insurance, pension plans and capitalization bonds activities
The company offers insurance products, pension plans and capitalization bonds through several legal entities, referred to collectively as Grupo Bradesco Seguros.
The company offers a range of products and services, such as:
Life
Life and personal accident insurance: The company offers life and personal accident insurance, as well as insurance against miscellaneous events, such as job loss, through its subsidiary Bradesco Vida e Previdência.
Health
Health insurance policies cover medical/hospital expenses: The company offers health insurance policies through Bradesco Saúde for small, medium-sized enterprises or large companies wishing to provide benefits for their employees.
Non-life
Auto and property/casualty insurance
The company provides car insurance with flexible options according to the client’s profile, through its subsidiary Bradesco Auto/RE.
The company offers a range of insurance products, from leaner and more affordable product, such as the insurance Auto Light Referenced Network, to a comprehensive coverage such as Auto Lar, which protects both the vehicle and the residence. There are also specialized products for motorcycle, truck, fleets and its account holders, with several differentials. For motorcycle, for example, the company has cover for accessories, such as jacket, gloves and helmet. Additionally, it offers hospital medical expense coverage and funeral assistance amongst others.
The company coverages is comprehensive, it includes damage caused to the vehicle, passengers and to third parties, with several options of a supplemental agreement, as well as a Club of Advantages with discounts in establishments, and a complete Bradesco Seguros App to facilitate access to the (insurance-related) services. Payments are flexible, with the option to split into 12 interest-free payments on the Bradesco card, and an option to pay insurance with Livelo points, the largest reward platform in the country.
Retail property and casualty insurance includes protection for residential, condominiums, business and equipment risks, with personalized coverage according to the needs of each business or residence. The company highlight Lar Mais Seguro and Residencial Sob Medida for individuals, and Bradesco Seguro Equipamento for individuals and companies, with complete coverage for several segments, such as agricultural, construction, medical, musical, electric-portable equipment and forestry. The company’s insurance business also offers comprehensive coverage for various segments, such as Office, Clinics and Surgeries, Construction, Teaching, Culture and Leisure, etc.
Pension Plans
The company has managed individual and corporate pension plans since 1981 through its wholly-owned subsidiary Bradesco Vida e Previdência, which is now one of the leading pension plans managers in Brazil, as measured by investment portfolio and technical provision criteria, based on information published by FENAPREVI and SUSEP. As of December 31, 2024, the company managed open pension plans covering 3.2 million participants.
Distribution channels
The company sells its insurance, pension plan, and capitalization bonds products through its website, branches, brokers based in its network of bank branches, and non-exclusive brokers throughout Brazil, all of whom are compensated on a commission basis. The company's capitalization bonds are offered through its branches, the Internet, its call center, ATMs, and external distribution channels.
Bradesco Expresso enables the company to expand its share of the correspondent bank segment through partnerships with supermarkets, drugstores, grocery stores, department stores, and other retail chains. These companies provide basic banking services through the employees of the establishments themselves, while decisions regarding lending or the opening of accounts are made by the company.
Digital Channels
The company offers various products and services through its digital channels, including its Mobile App, Internet Banking, ATM, and Fone Fácil (contact center).
Mobile App – As of December 31, 2024 the company has 27.8 million individual clients active o its Mobile App (individuals who carried out transactions in the last three months).
The company updated the mobile app in order to bring a fresh and functional look. Clients can now customize the distribution of services on the home page according to their preferences. In addition, shortcuts have been incorporated to facilitate quick access to various features, offering a broad and diverse set of solutions. Available in iOS and Android systems, clients can use this channel to make payments, Pix, transfers, to purchase loans, consortia, carry out foreign exchange operations and access non-financial benefits, among other services. They also gain the advantage of integration with the Ágora App, its investment platform.
BIA – The proximity to the client is increasingly relevant, as well as the customization of the service. In order to further improve the customer experience, the company invest in research and technologies that also include pioneering solutions. This is the case of BIA, its artificial intelligence tool launched in 2016. Initially established for branch employees throughout Brazil, BIA grew until it began to interact with clients through its Bradesco App and through other channels. The evolutions continue and BIA has become increasingly a client concierge, acting in several moments of its customers' life, in a decisive and effective manner.
BIA is presented as one of the main channels of customer and non-customer relationships. Present in Bradesco’s digital channels and on the WhatsApp messaging App, BIA ensures mobility and helps clients digitally wherever they are. Among its features in the messaging App, for example, BIA interacts with the client proactively in cases of suspected credit card and Pix fraud. With BIA, clients can also make transfers between Bradesco accounts, Pix, check balances, statements, and credit limits, in addition to clarifying doubts about the its products and services.
Internet – The company provides individual clients access to financial services on Bradesco Internet Banking. The company’s Bradesco Internet Banking website continues to evolve. With its own domain name (banco.bradesco), the company is one of the few Brazilian companies to have a top-level domain name or generic top-level domain name (gTLDs) – an initiative of the ICANN (Internet Corporation for Assigned Names and Numbers), the body responsible for internet protocols, which regulates the addresses on the worldwide web.
Institutional website of Bradesco (banco.bradesco): The company offers individual clients access to information and clarifications on various financial products and services, with the support of video tutorials that facilitate their understanding, in addition to the features that help in the client’s day-to-day activities, such as issuing the copy of the bank payment slip. Also available on the homepage of the portal is the online purchase of its products and those of partners, such as cards, consortium, Losango, Cielo, among others, also serving clients who do not have a checking account.
Bradesco Internet Banking for financial services: with various services and products available, individual clients can use the channel to check statements and make payments, transfers, Pix, investments and much more.
On Bradesco Net Empresa, the Corporate client can make queries, transfers, Pix, investments, file submission, among other transactions, all in a simple and secure manner. The company also emphasize that the MEI Digital Platform delivers to the individual micro-entrepreneurs, financial and non-financial services by means of partners that meet their main needs.
ATMs – Focusing on innovation, evolution, and availability, self-service machines aim to simplify its customers’ daily lives, allowing accessibility and intuitive journeys.
There are over various active machines with distributed among its own network and distributed among its shared network – Banco24Horas. All machines are equipped with biometric reading, bringing more security and convenience for biometric transactions without using the card.
Telephone services – Fone Fácil (Contact Center) – The company allows clients to bank by telephone, which can be accessed by choosing an electronic service or personalized service.
In the electronic service, the company provides a sophisticated service system powered by voice command, which enables clients to do what they want to do through direct and simple voice commands, without the need for listening to various service options and having to choose them by typing the option on the telephone. The client can request the desired service and proceed directly to their chosen option.
The company offers its main financial services through this channel, such as payments, transfers between Bradesco accounts, TED, investments, loan contracting, among others.
Social Networks: The focus is on communication, relationship, content creation and business activation. The Social Networks team is present with the user @bradesco on Instagram, Facebook, X (formerly Twitter), YouTube, TikTok and Linkedin and monitors, analyzes and interacts with people who seek the company or mention its brand, relying on the participation of segments, managers and branches to resolve demands.
Next
Created as a digital platform focused on the hyperconnected generation, next seeks to simplify people’s lives, offer solutions to facilitate financial management and be a partner for clients to achieve their dreams and goals.
Next has a portfolio of solutions that includes several financial and non-financial services, that were designed following client and non-client studies.
In addition to the checking account and debit and credit card, it offers a variety of investments, loans, insurance, financial management tools, mobile top-up, gift card, tag for tolls and parking lots (Veloe), benefits in partnership with more than 50 brands in the Pampering hub and integration with Apple Pay, Google Pay, Samsung Pay and WhatsApp Pay digital wallets and also a digital account available to the public from age 0 to 17 years old, with financial education solutions, in an exclusive partnership with Disney (nextJoy).
Digio
Digio Bank is a wholly-owned subsidiary of Banco Bradesco and offers a portfolio of digital journey products, including: credit card, payment account, financial services marketplace, personal loans, including payroll-deducted loans, and a white-label platform for partners.
Focused on becoming one of the best financial products and services operations in Latin America, the institution aims to provide a simple, agile, and secure experience.
As for the perception of the services offered, the bank continues to be well-rated by customers in app stores and on Google My Business, in addition to maintaining a prominent reputation on Reclame Aqui, through the RA1000 seal (a recognition given by the Reclame Aqui to companies that offer excellent customer service).
Seasonality
The company generally experience some seasonality in certain parts of its business. There is certain seasonality in its consumer financing business (including its credit card business, financing of goods and others), with increased levels of credit card transactions and financing of goods at the end of the year and a subsequent decrease in these levels at the beginning of the year. The company also experience certain seasonality in its fee collections at the beginning of the year, which is when taxes and other fiscal contributions are generally paid in Brazil. For the company’s PGBL and VGBL business, seasonality is seen at the end of the year (year ended December 2024).
Competition
The company faces significant competition in all of its principal areas of operation, since the Brazilian financial and banking services markets are highly competitive.
Deposits: The deposit market is highly concentrated, with the company’s main competitors being Itaú Unibanco, Caixa EconÔmica Federal, Banco do Brasil and Santander.
Loans and advances: The company’s main competitors are Itaú Unibanco, Banco do Brasil, Santander Brasil and SICREDI.
Consortia: The company’ main competitors are Banco do Brasil and Porto Seguro in the real estate segment; Banco do Brasil and Itaú in the movable property segment.
Investment Bank: Among the main players are Itaú BBA, BTG Pactual, Santander and other national and international institutions.
Leasing: The company’s main competitors in the Brazilian leasing market are Banco IBM, Santander Leasing and Daycoval Leasing.
Insurance: The company’s principal competitors are SulAmerica, Porto, BB Seguridade, HDI and Tokio.
Pension plans sector: The company’s main competitors are BrasilPrev, Itaú Seguridade, Caixa Seguridade, Zurich/Santander, Icatu and XP Previdência.
Capitalization bonds sector: The company’s main competitors are BrasilCap, Santander, Cia. Itaú de Capitalização, Icatu, Kovr and Caixa Seguridade.
Regulation and Supervision
The Central Bank of Brazil was created by Law No. 4,595/64.
Financial institutions based in Brazil are subject to capital measurement and standards based on a weighted risk-asset ratio, according to CMN Resolutions No. 4,958/21 and No. 4,955/21, as amended.
The company is required to deposit in an account with the Central Bank of Brazil an amount equivalent to 20.0% of the arithmetic average of the sum of the balances entered under the headings of Savings Deposits and Resources of Associated Savers, according to BCB Resolution No. 188/22, as amended, which defines and consolidates the rules of compulsory collection on savings deposit resources.
In April 2018, the Self-Regulation Council of the Federação Brasileira de Bancos (Brazilian Federation of Banks) – FEBRABAN, published Regulatory Standard No. 19/18 (Regulatory Standard on the Conscious Use of Overdraft), with new guidelines to promote the proper use of overdraft facilities.
The SPB was regulated and restructured under Law No. 12,865/13.
BCB Resolution No. 119/21 regulated new areas, with the objective of improving certain regulatory points in order to enable adequate and effective compliance with the rules established by Circular No. 3,978/20 of the Central Bank of Brazil.
History
Banco Bradesco S.A. was founded in 1943.
