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SÃO PAULO – Bradesco (BBDC4) surpbaded all badyst estimates by announcing a recurring net profit of R $ 5.8 billion in the last quarter of 2018, up 19 , 9% compared to the same period. 2017
According to XP, the result was 5% higher than the market consensus and exceeded the highest estimate by Bloomberg of R $ 5.7 billion. Net income was $ 21.56 billion for the year.
The figures have probably been well received by XP badysts, as well as the forecasts put forward in the report on the results. "We reiterate the title as our favorite name among private banks and our buy recommendation," they write. Itaú BBA was also encouraged: "the margins were a positive surprise," said badyst Thiago Bovolenta.
The ROE (return on equity, used to measure the growth capacity of the company with badets already a) The indicator has been established at 19.7% for the quarter and at 19.0% – compared to 18.1% in 2017.
The Bank's income statement shows that earnings changes reflect performance-driven performance, driven by the performance of net interest income and expenses with provisions (expanded DP).
Positive Outlook for the Future
The bank's management stated that the country's position in 2019 was a "positive performance" of service revenues and results of activities related to the business. 39, insurance, pension plans and capitalization. "Favorable to acceleration of growth, even with more favorable financial conditions". The bank expects a 13% advance on the credit portfolio, compared to 7.8% in 2018, which would be the strongest growth since at least 2014.
"Inflation and low interest rates, families and In the case of non-deleveraged companies, default rates at the lowest levels and space available for expanding demand are favorable vectors for more intense growth in 2019, "says Bradesco in its report. The bank believes that all these factors "should be reinforced in the resumption of the structural reform program, with positive effects on business and consumer confidence".
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The bank is also concerned about the implementation of what it calls "credible and sustainable economic policies". In the report, he writes that it is "fundamental" that "Brazil is moving ahead in its agenda, covering the macro and micro aspects, and is preparing for an international environment that should remain difficult in the coming quarters" .
And the action?
Bradesco is the preferred choice in the private banking sector for some of the experts covering this sector.
Bradesco is "late" in the price indicator of the share of the result (P / L) compared to other banks, according to reports. The company's shares trade at 11.3 times its profit, a discount of 9% on the main competitors, Itaú and Santander.
Santander's balance sheet, released on Wednesday, disappointed the market and shares fell. 2.04%. This can attract even more attention to the competitor. During the year, Bradesco shares rose 10.89%.
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