Sao Paulo, February 7, 2026, 08:51 (BRT) — Market closed
- Bradesco’s preferred shares dropped in the last session, with the bank’s 2026 targets signaling slower growth in certain areas.
- The lender posted higher fourth-quarter profit and gave investors a fresh look at its turnaround plan.
- Monday brings Brazil inflation numbers into focus, with traders also eyeing a new batch of bank earnings for hints on rates and credit trends.
Banco Bradesco S.A.’s preferred shares (BBDC4) slipped 2.55% on Friday, finishing at 20.61 reais. The stock moved in a range from 19.83 to 20.70 reais during the session, with roughly 94.1 million shares changing hands. Investors now have new guidance in play before trading picks up again Monday.
The backdrop was stronger. Brazil’s Ibovespa closed Friday with a 0.45% gain, marking its fifth week in a row in the green. Foreign inflows continued shoring up the benchmark, though some investors remained cautious about what the next macro developments could bring.
Bradesco’s recurring net income jumped 20.6% year-over-year in the fourth quarter to 6.5 billion reais, according to a regulatory filing. That pushed full-year 2025 recurring net income to 24.7 billion reais. Return on average equity landed at 15.2%. The bank’s expanded loan portfolio wrapped up 2025 at 1.089 trillion reais, reflecting an 11% increase. For 2026, Bradesco is projecting loan growth between 8.5% and 10.5%, and expects net interest income net of provisions to fall in the 42-48 billion reais range. Fee income and insurance are seen growing at a slower pace, while operating expenses are set to rise 6% to 8%.
During the earnings call, chief executive Marcelo Noronha emphasized a patient approach to the overhaul, arguing that ongoing tech investment was essential. “Technology will require growing, constant investing over time,” he said, casting the spending as a necessary step toward a solution—not a sidetrack. Investing.com
XP Investimentos analysts described the quarter as solid and mostly as expected, but pointed out the 2026 guidance still looks cautious, with transformation expenses likely to weigh on costs in the short term. Bradesco’s return on average equity lags behind Itaú Unibanco’s 24.4% and Santander Brasil’s 17.6% for the same stretch—XP highlighted the gap, since Monday updates often bring that sort of comparison front and center.
Bradesco’s American depositary receipts (BBD) slipped 0.5% to $3.98 on Friday, wrapping up a session that saw prices range from $3.845 to $3.99. ADRs give U.S. investors access to foreign stocks via U.S. exchanges.
Rates just won’t quit. Fresh talk out of Brasilia this week put the central bank’s rate-setting board back in focus, with speculation swirling over a possible new appointee. Some investors bristled, worried this could open the door to a more politically slanted approach. Economic policy chief Guilherme Mello didn’t soothe nerves, saying debt “depends on monetary policy decisions”—a line that shoved attention straight back onto the interest-rate curve. Reuters
Traders will get two clear signals next week. Brazil’s January IPCA inflation figures hit on Feb. 10, with Banco do Brasil set to release Q4 results a day later, on Feb. 11. Both data points have the potential to shake up rate bets and bank stocks.
