Banco Bradesco Explained

Banco Bradesco S.A.
Type:	Sociedade Anônima
Traded As:	Ibovespa Component
Foundation:	in Marília, São Paulo, Brazil
Founder:	Amador Aguiar
Hq Location City:	Osasco,
Hq Location Country:	Brazil
Area Served:	Worldwide
Num Locations:	5,314 branches
Key People:	Luiz Carlos Trabuco Cappi (Chairman), Alexandre da Silva Glüher (Vice Chairman), Marcelo de Araújo Noronha (CEO)
Industry:	Financial services
Products:	Banking Investment banking Private equity Asset management Private banking Insurance Retail Banking
Revenue:	US$ 40.0 billion (2023)
Net Income:	US$ 3.3 billion (2023)
Assets:	US$ 407.7 billion (2023)
Rating:	Ba3 (Moody's) BB+ (S&P)
Num Employees:	86,200
Subsid:	Bradespar Bradesco Seguros
Homepage:	banco.bradesco
Footnotes:	^[1] ^[2] ^[3] ^[4] ^[5]

The Banco Bradesco S.A. is a Brazilian financial services company headquartered in Osasco, in the state of São Paulo, Brazil. It is the third largest banking institution by assets in Brazil and Latin America. It is also one of fifty most valuable banks in the world. The bank is listed at the B3 in São Paulo, where it is part of the Índice Bovespa, in the New York Stock Exchange and in the Madrid Stock Exchange.

Its primary financial services revolve around commercial banking, offering Internet Banking, insurance, pension plans, annuities, credit card services (including football club affinity cards for fans) for customers, and savings bonds. The bank also provides personal and commercial loans, as well as leasing services. Bradesco is a pioneer in using the ATM biometric reading system in Brazil, which enables customers to be identified using the vascular pattern of their hands, serving as a complementary password, available at its 31,474 own ATMs and 5,549 ATMs of Banco24Horas, a Brazilian third-party ATM network.

Bradesco has 5,314 branches, 4,834 service branches and 38,430 banking correspondents. Bradesco customers can also use 34,859^[6] automatic teller machines and 12,975 ATMs of the Banco24Horas. Internationally, Bradesco have one branch in New York, two branches in Grand Cayman, and banking or financial subsidiaries or affiliates in London, Luxembourg, Hong Kong, Buenos Aires, Grand Cayman, Tokyo and Mexico.

Banco Bradesco is constantly expanding and has recently acquired Banco do Estado do Maranhão, Banco Mercantil de São Paulo, Banco Ibi S.A., and the Brazilian operations of Banco Bilbao Vizcaya Argentaria (BBVA), J.P. Morgan Fleming Asset Management, American Express and HSBC Brasil. Banco Bradesco grew its value by more than 50 percent compared with 2017.^[7]

Currently the bank is on the top 3 of the most valuable Brazilian brands.^[8]

Slogan

Entre nós, você vem primeiro means "Between us, you come first" in Portuguese.^[9]

History

• March 10, 1943: Banco Brasileiro de Descontos S.A. founded by Amador Aguiar^[10] in Marília, in the state of São Paulo. The bank targets small landowners, retailers, and government employees.
• 1946: Banco Bradesco moves headquarters to São Paulo.
• 1951: Banco Bradesco grows to become the largest private bank in Brazil.
• 1953: Banco Bradesco moves headquarters to Cidade de Deus, Osasco, São Paulo.
• 1956: Amador Aguiar creates Fundação Bradesco, the biggest education program in Brazil.
• 1962: Banco Bradesco is the first Latin American company to buy a computer.
• 1968: Banco Bradesco launches the first credit card in Brazil.
• 1970s: Banco Bradesco acquires 17 banks throughout the country.
• 1978: Banco Bradesco branch no. 1000 is inaugurated in Chuí at the southern tip of Brazil.
• 1991: Amador Aguiar died at 86 in São Paulo.
• 1996: Banco Bradesco the first Latin American Internet Banking system.
• 1997: Banco Bradesco Banco BCN
• 2000: Banco Bradesco Argentina commences operations in Buenos Aires. Bradesco Securities commences operations in New York.
• 2010: Banco Bradesco buys Ibi Mexican (Ibi Services S. de R. L. México) subsidiary, also controlled by C&A.^[11]
• 2011: Banco Bradesco is ranked fourth among the world's 500 greenest companies and first among Brazilian companies, according to a list disclosed by Newsweek, prepared in partnership with the consulting firms Trucost and Sustainalyctis.^[12]
• 2015: Banco Bradesco buys HSBC Brazilian unit for $5.2 billion.^[13]
• 2019: Banco Bradesco buys american BAC Florida Bank from Nicaraguan Grupo Pellas for $500 million.^[14] Lázaro de Mello Brandão, President for 36 years, died aged 93.^[15]
• 2020: Banco Bradesco reaches agreement to acquire JPMorgan Chase & Co.'s Brazilian private banking clients. JPMorgan will continue to provide Brazilian clients with products and services abroad.^[16]
• 2021: Banco Bradesco buys minority stake in american fintech BCP Global.^[17]
• 2022: Banco Bradesco reaches agreement to acquire BNP Paribas Brazilian wealth management operations. BNP Paribas will continue to provide Brazilian clients with products and services abroad.^[18] BAC Florida Bank renamed Bradesco Bank. ^[19]
• 2023: Bradesco celebrates 80th Anniversary

See also

• ATM Industry Association (ATMIA)

External links

• Bradesco web site
• Fundação Bradesco web site
• Amador Aguiar Biography
• Bradesco Corporate Governance Structure
• Fundação Bradesco web site (English)
• Bradesco Investors Relations (English)
• Bradesco Board of Directors (English)
• Bradesco Bank (formerly BAC Florida Bank)

Notes and References

1. Web site: Bradesco Presentation - April/2017. 2017-05-03. 2017-04-30. Banco Bradesco S/A.
2. Web site: Bradesco RI: Ratings. 2017-05-03. Banco Bradesco S.A.. 2011-08-25. https://web.archive.org/web/20110825043613/http://www.bradescori.com.br/site/conteudo/interna/default.aspx?secaoId=698&idiomaId=2. dead.
3. Web site: Banco Bradesco on the Forbes Global 2000 list. 2013-05-25. 2013-05-01. Forbes.
4. Web site: Executive Officers. 2023-12-25. 2023-12-20.
5. Web site: Board of Directors. 2023-12-25. 2022-12-21.
6. Web site: Bradesco Automatic Teller Machines. 2012-12-23. 2012-09-30. Banco Bradesco S.A..
7. Web site: brandZ LatAm Report. brandz.com. 2019-02-13.
8. Web site: 2022-05-03 . Banks and beer top Brazil's 10 most valuable brands . 2022-06-29 . The Brazilian Report . en-US.
9. Web site: Matos . Lorena . 2022-05-27 . Bradesco (BBDC4) reposiciona marca para se aproximar do cliente . 2023-12-23 . . . pt.
10. Web site: Nossa História. 2013-07-02. 2013-03-10. Banco Bradesco S.A.. pt. 2013-09-17. https://web.archive.org/web/20130917211725/http://www.bradesco.com.br/html/classic/sobre/nossa-historia.shtm. dead.
11. Web site: Bradesco acquire o Controle Societário do Ibi México e firma parceria com a C&A México. 2010-06-18. 2010-06-02. Banco Bradesco S.A.. pt. 2012-02-29. https://web.archive.org/web/20120229033616/http://www.bradescori.com.br/site/conteudo/noticias/pressRelease-detalhe.aspx?secaoId=603&pressid=1030. dead.
12. Web site: World's Greenest Companies. 2011-11-26. 2011-10-16. Newsweek.
13. Web site: HSBC says to sell Brazil unit to Bradesco for $5.2 billion. 2015-08-03. 2015-08-03. Reuters.
14. Web site: Brazil's Bradesco to buy Florida bank to focus on wealthy individuals. 2023-02-17. 2019-05-06. Reuters.
15. Web site: Ex-presidente do Bradesco, Lázaro Brandão morre aos 93 anos. G1. 16 October 2019 .
16. News: 2020-09-01. JPMorgan to exit private banking business in Brazil, Bradesco says. en. Reuters. 2020-09-22.
17. Web site: Miami Fintech Joins With Bradesco to Offer Digital Investments. 2023-02-18. 2021-12-08. Bloomberg.
18. News: 2022-06-22. France's BNP Paribas transfers wealth management ops in Brazil to Bradescolanguage=en. Reuters. 2020-09-22.
19. Web site: Bradesco Wants to Speed Up Its US Expansion With Fintech Deals. 2023-02-18. 2022-12-19. Bloomberg.