Brazil's Bradesco sets aside $506 mln for COVID-19 loan losses, profit slides [Reuters]
Banco Bradesco Sa American Depositary Shares (each representing one Common Share) (BBDO)
US:NYSE Investor Relations:
bradescori.com.br/sitebradescori/default-en.aspx
Company Research
Source: Reuters
Brazil's Bradesco sets aside $506 mln for COVID-19 loan losses, profit slides SAO PAULO, April 30 (Reuters) - Brazil’s second largest private-sector lender Banco Bradesco SA said on Thursday it was setting aside 2.7 billion reais ($506.11 million) to cover expected loan losses caused by the COVID-19 pandemic, after it posted a first-quarter profit that missed analysts’ estimates. Bradesco posted a recurring net income, which excludes one-off items, of 3.753 billion reais, down nearly 40% from a year earlier and below an estimate of 5.975 billion reais by Refinitiv.
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