Bradesco is mid-turnaround under the new CEO with credit cleanup largely complete after the painful 2023-2024 cycle. ROE recovering toward 16-17% as provisioning normalizes. Loan book is shifting toward higher-margin retail and SME. Trades at material discount to Itau despite improving fundamentals. Brazilian rate-cut cycle provides macro tailwind.
Thesis reviewed May 29, 2026
Banco Bradesco SA is headquartered in Brazil, which is currently showing moderate signals.
🇧🇷Brazil60NEUTRALView Brazil risk detail →🏦Financials100NEUTRAL| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| GGAL | Grupo Financiero Galicia S.A. | 90 | +13% | ↓54% | ENTRY |
| MELI | MercadoLibre | 90 | -14% | ↓54% | AVOID |
| BBAR | BBVA Banco BBVA Argentina SA | 90 | +21% | ↓54% | ENTRY |
| BBD | Banco Bradesco S.A. (preferred ADR) | 90 | +5% | ↓54% | NEUTRAL |
| VIV | Telefonica Brasil (Vivo) | 90 | +8% | ↓54% | ENTRY |
| UBS | UBS Group AG | 90 | +17% | ↓54% | ENTRY |
| CIB | Bancolombia S.A. | 90 | +9% | ↓54% | NEUTRAL |
Investors who hold BBDO may also have indirect exposure through these country funds.
Bradesco NPL provisioning drops 35% YoY
Retail loan growth resumes after two-year contraction
Bradesco Q1 ROE reaches 13.2%, highest since 2022
Estimates · Yahoo Finance · Not audited figures