Sao Paulo, Jan 30, 2026, 14:51 (BRT) — Regular session
- Bradesco’s preferred shares (BBDC4) slipped roughly 0.4%, closing at 21.35 reais amid a wider downturn in Brazilian stocks. (Investing)
- Bradesco ADRs (BBD) slipped roughly 1.9% to $4.07 during New York trading.
- Investors are gearing up for Bradesco’s Q4 earnings release on Feb. 5, focusing again on rates and credit quality. (Bradesco RI)
Banco Bradesco SA’s preferred shares (BBDC4) slipped 0.4% to 21.35 reais on Friday, tracking the broader Ibovespa index, which dropped nearly 0.9%. (Investing)
The rate narrative is shaping the tape. Brazil’s central bank kept the Selic benchmark rate steady at 15% this week, hinting at a March start for cuts but emphasizing a “cautious” stance and calling for “serenity” on how quickly and how much easing will happen. (Reuters)
Flavio Serrano, chief economist at Banco BMG, said policymakers were “as clear as possible” about beginning a rate cut cycle and reiterated his forecast for a 50-basis-point reduction in March; a basis point equals 0.01 percentage point. (Reuters)
Bradesco heads into its earnings report with investors zeroing in on two key metrics: the resilience of loan demand amid steep borrowing costs, and whether the bank boosted its provisions—the reserves for possible credit losses. According to the company’s investor relations calendar, there’s a quiet stretch until Feb. 5 before the results drop. (Bradesco RI)
Another macro datapoint added fuel to the debate. Bank lending in Brazil climbed 10.2% in 2025, surpassing the central bank’s December forecast. Total credit hit 7.1 trillion reais, rising 1.8% in December alone. The broad default ratio, excluding earmarked credit, nudged up to 5.4%, while spreads tightened slightly to 33.6 percentage points. (Reuters)
Government credit-stimulus moves factored in as well, Reuters reported, highlighting steps to broaden payroll-deductible loans for private-sector employees and prolong subsidized home-buying programs. That boosts volume for banks, though prolonged high rates could strain underwriting standards. (Reuters)
Beyond Brazil, risk appetite wavered. Global shares dipped and the dollar gained ground after U.S. President Donald Trump nominated Kevin Warsh to lead the Federal Reserve. Adding pressure, U.S. producer prices climbed more than anticipated, Reuters noted. (Reuters)
Bradesco wasn’t the only one slipping. Itau Unibanco’s preferred shares (ITUB4) dropped around 0.3%, Banco do Brasil (BBAS3) slid about 1.3%, and Santander Brasil units (SANB11) lost roughly 1.1% in Sao Paulo trading. (Investing)
Bradesco ranks among Brazil’s largest private banks, operating across banking and insurance sectors. It’s listed locally and offers ADRs, providing offshore investors a clear gauge of Brazil’s market risk. (Reuters)
The next shift in rates might not follow a clear path. Higher inflation, a softer currency, or political turmoil over fiscal policy could prompt Copom to stay cautious. That would squeeze borrowers and add strain on banks’ asset quality, even as credit continues to expand.
Bradesco’s fourth-quarter results, due Feb. 5 after the close in Sao Paulo and New York, are the immediate trigger. The bank will then hold a videoconference on Feb. 6. Traders will focus on any changes in tone regarding provisions, loan growth, and how a March cut cycle might affect margins. (Bradesco RI)
