SAO PAULO, June 26, 2026, 13:01 BRT
- Banco Bradesco S.A. (BVMF:BBDC4) was up 2.44% to R$18.05 as of 12:46 p.m. BRT. Trading volume was running 25% higher than normal.
- Ibovespa (INDEXBVMF:IBOV) gained 0.83% in delayed trading while B3 stayed open for its usual weekday session.
- The gross June interim interest on equity comes to around 1.9% of Friday’s BBDC4 price. That’s about 18 times what Bradesco usually pays out in monthly preferred dividends.
Banco Bradesco S.A. (BVMF:BBDC4) preferred shares climbed Friday, posting stronger gains than Brazil’s main stock index. By 12:46 p.m. BRT, BBDC4 traded at R$18.05, up 2.44%. Turnover was the standout—volume hit 35.96 million, well above the 28.69 million average.
B3 traded in its usual weekday hours, 10:00 a.m. to 4:55 p.m. São Paulo time. The Ibovespa (INDEXBVMF:IBOV) was up 0.83% in late trading. Bradesco outperformed the market.
Bradesco’s June interim interest on equity for preferred shares comes in at R$0.346894939, tied to a July 3 base date and set to pay out Jan. 29, 2027. That’s about 18 times the regular monthly preferred interest on equity of R$0.018974809. The trade is tilted toward cash yield.
BBDC4’s gross interim preferred payment is about 1.9% at Friday’s close. The stock, up 24.8% from its 52-week low at R$14.46, is still trading around 17% under its 52-week high of R$21.77.
Bradesco is trading at 8.03 times earnings and showing a 5.63% dividend yield, according to Google Finance, which is drawing income buyers. But the multiple keeps risk in play, with the stock moving on signs that loan losses could be topping out or deteriorating.
Bradesco’s earnings base got a lift in the first quarter. The bank posted recurring net income of R$6.811 billion, a gain of 16.1% from last year. Total net interest income came in at R$20.051 billion, up 16.4%. The expanded loan portfolio hit R$1.090 trillion, growing 8.4% year over year.
Credit costs jumped. Expenses for loan-loss provisions climbed 26.5% to R$9.667 billion. Credit cost was 3.5%. Loans delinquent for over 90 days hit 4.2%.
Friday’s volume is in focus. A nearly 2% gross interim payout is enough to bring in income buyers, but for now, the share price wants to see Bradesco stick to the credit discipline management has pushed since Q1 and still keep loan growth going.
Bradesco investor relations director André Carvalho said in May that with Selic at 14.5% the group is taking a “more cautious approach,” but called high rates “not a barrier to growth.” CEO Marcelo Noronha said the bank’s recovery is happening “step by step.” He said being more conservative on risk doesn’t mean activity has stopped.
Bradesco’s new push is toward small and mid-sized firms. Alexandre Panico, who runs the segment as executive director, told the bank’s investor page in an interview published June 12 that Bradesco is “selective, but with appetite” when it comes to SMEs. “We will not be aggressive,” he said.
Secured loans are getting more attention. Bradesco reported that secured credit made up 60.8% of its loan book in the first quarter, a jump of 3.8 percentage points over the past year. That means investors can see if the bank’s SME expansion is coming with decent collateral.
Bradesco’s common equity tier 1 ratio slipped to 10.2% in March from 11.2% at the end of December, tightening the margin for error as capital gets thin. Management is sticking with guidance for loan growth between 8.5% and 10.5% by 2026. Investors need to be on record by July 3 to get the interim interest. Shares go ex-rights July 6.
