Related content
Companies / Entities
Keywords
Credit/Debit Cards | Wholesale Banking | Commercial/Retail Banking | Financial ResultsResearch Reports
Facebook
Delicious
Digg
Yahoo
MeneameBrazil's Bradesco had 1.81bn reais (US$1.05bn) in net income in 3Q09, down 5.2% from the same quarter in 2008, as gains from a share offering in card processor VisaNet cancelled out additional provisions for lawsuits stemming from the government's economic plans in 1987-91.
Bradesco said in its third quarter financial statements that it made about 410mn reais from the sale of shares in VisaNet, in which it now owns 26.6%, while it made more than 387mn reais in additional provisions for lawsuits.
Net interest income at the bank rose 33.7% from 3Q08, reaching 7.59bn reais for 3Q09.
Bradesco's loan book rose to 216bn reais at end-September, increasing 1.3% from end-June and 10.2% from end-September 2008. Corporate loans grew faster in the 12 month period, up 11.3% to 140bn reais at end-3Q09, while retail lending hit 75.5bn reais, up 8.2%.
The bank said its goal was for 2009 full-year growth of 8-12% on its loan portfolio and a net interest income expansion of 18-22%.
The bank's 90-day non-performing loan (NPL) ratio climbed to 5.0% from 4.6% in 2Q09 and 3.4% in 3Q08.
Assets at Bradesco totaled 486bn reais at the end of September, up 14.9% from 12 months prior.
0
Comentarios