Banco Bradesco (BBDC4) reported recurring net income of R$ 7.109 billion in the third quarter of 2026 (3Q26), up 14.6% compared to 3Q25 and 0.8% versus 2Q26. Return on average equity (ROAE) was 16.1% in the quarter, excluding the effect of the capital increase completed in the period.
Total revenues reached R$ 38.0 billion in 3Q26, an 8.4% increase in 12 months and 1.1% higher than the previous quarter. Total financial margin came to R$ 21.372 billion, a 14.2% year-over-year increase, while the margin with clients was R$ 20.497 billion and the market margin was R$ 875 million. Fee and commission income totaled R$ 10.924 billion, up 3.1% in 12 months, driven by card income, fund management, consortia and capital markets.
The expanded loan portfolio reached R$ 1.149 trillion in September 2026, an 11.1% increase in 12 months and 1.1% higher than in June. The individual loan book totaled R$ 484.874 billion and the corporate loan book R$ 664.673 billion, with growth in collateralized credit lines such as mortgage financing, auto loans, guarantees and sureties, securities and rural credit. The 90-day+ delinquency rate was 4.6% in 3Q26, 0.3 percentage point above 2Q26 and 0.5 percentage point above 3Q25, mainly influenced by working capital for micro, small and medium-sized companies with Federal Government guarantees and by operations of Banco John Deere.
Credit cost, measured by expenses with expanded loan loss provisions (PDD), was R$ 10.642 billion in 3Q26, up 24.3% in 12 months and 6.6% versus the previous quarter, equivalent to 3.7% of the annualized expanded loan portfolio. Provisions for expected losses on the expanded portfolio totaled R$ 59.570 billion in September, corresponding to 5.2% of the portfolio and 142.6% of exposure overdue by more than 90 days.
In the insurance, pension plans and capitalization segment, operating income reached R$ 5.590 billion in 3Q26 and R$ 18.092 billion in the 2026 year-to-date through September, an increase of 8.6% versus the first nine months of 2025. The insurance group’s net income was R$ 2.889 billion in 3Q26 and R$ 8.594 billion in 9M26, with ROAE of 22.0% in the quarter and 21.7% in the year-to-date. The insurance group’s technical provisions totaled R$ 478.934 billion in September 2026.
In terms of capital, the prudential conglomerate posted a total BIS capital ratio of 16.0% in September 2026, with Tier I capital of 13.7% and core capital of 12.1%, after completion of the R$ 10 billion capital increase. For 2026, Bradesco is maintaining its guidance for growth in the expanded loan portfolio between 8.5% and 10.5%, net interest income between R$ 42 billion and R$ 48 billion, fee and commission income between 3% and 5%, operating expenses between 6% and 8% and operating income from insurance, pension plans and capitalization also between 6% and 8% above 2025.
