Bradesco 3Q26: Recurring Net Income R$7.1B, Up 14.6% y/y; R$10B Capital Raise Complete
BBD sits 31% above its 52-week low of $2.98 on light trading volume (0.2× avg).
Summary
Bradesco's 3Q26 recurring net income rose 14.6% y/y to R$7.1 billion, with the cost-to-income ratio down to 45.4%, while the over-90-day NPL ratio edged up to 4.6%. The R$10 billion capital increase is complete, lifting the Common Equity Tier I ratio to 12.1%.
Key Events · Earnings and Guidance · BBD
-
3Q26 Recurring Net Income R$7.1 Billion
Recurring net income of R$7.1 billion rose 14.6% year over year and 0.8% quarter over quarter, on total revenue of R$38.0 billion (+8.4% y/y).
-
Efficiency Ratio Improves to 45.4%
The cost-to-income ratio fell 4.7 percentage points year over year, as personnel and administrative expenses grew below inflation.
-
NPL Ratio Rises to 4.6%
The over-90-day ratio increased 0.3 p.p. quarter over quarter, driven by MSME working-capital lines backed by federal guarantees and the rural portfolio; cost of risk reached 3.7%.
-
R$10 Billion Capital Increase Completed
The Central Bank of Brazil approved the capital increase on October 8, 2026; the Common Equity Tier I ratio rose to 12.1% from 11.3% in June 2026.
Analysis · BBD · Finance
Recurring net income of R$7.1 billion in 3Q26 came in 14.6% above a year earlier, on total revenue of R$38.0 billion (+8.4% y/y). Expenses grew below inflation, pulling the cost-to-income ratio down to 45.4%, a 4.7 percentage point year-over-year improvement. Credit quality is the offsetting negative: the over-90-day NPL ratio rose to 4.6% from 4.3% in 2Q26, concentrated in MSME working-capital loans backed by federal guarantees and in the rural book, and the cost of risk ticked up to 3.7%. With the R$10 billion capital increase now fully done and approved by the Central Bank on October 8, 2026, the Common Equity Tier I ratio stands at 12.1%, up from 11.3% in June. That capital cushion is the main reason the bank can keep growing a R$1,150 billion loan book (+11.1% y/y) while absorbing the delinquency drift.
How filings like this one have moved
In the 30 days to Oct 26, 2026, 36.2% of the 898 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.75%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BBD was trading at $3.89 on NYSE in the Finance sector, with a market capitalization of approximately $42B. The 52-week trading range was $2.98 to $4.58. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.