Business Context and Reporting Period
This Form 6-K filing by Banco Bradesco S.A. (Bradesco) covers the period ending June 30, 2023. The document serves as a clarification to shareholders and the market in response to an official inquiry from the Brazilian Securities and Exchange Commission (CVM) regarding media reports published on June 23, 2023.
Key Financial Metrics
The filing does not contain standard financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics for the reporting period. The document focuses exclusively on corporate governance and strategic partnership details.
- Assets Under Management (AUM): Approximately R$ 42 billion for the newly constituted entity.
- Custody Assets: Approximately R$ 22 billion in wealth management custody.
Material Changes and Strategic Developments
Bradesco clarified the status of its strategic partnership with Banco Votorantim S.A. (Banco BV) regarding the creation of an independent wealth management firm:
- Partnership Timeline: The strategic partnership was announced on August 24, 2022. The transaction, involving Bradesco's acquisition of 51% of BV DTVM S.A., was concluded on February 28, 2023.
- Entity Renaming: BV DTVM S.A. will change its corporate name to Tivio Capital DTVM S.A.
- Leadership Appointment: Christian George Egan was hired as the new CEO of Tivio Capital. He previously held roles at Pactual, Credit Suisse, and the Itaú group.
- Material Fact Determination: Bradesco asserts that the information regarding the new management and entity name does not constitute a "Material Fact" under CVM Resolution No. 44/21, as the core partnership and transaction were previously disclosed.
- Verify the conclusion date of the 51% acquisition of BV DTVM S.A. (stated as February 28, 2023).
- Confirm the official name change of BV DTVM S.A. to Tivio Capital DTVM S.A. in regulatory filings.
- Review the June 22, 2023, Notice to the Market regarding the appointment of Christian George Egan as CEO.
- Assess Bradesco's rationale for classifying the Tivio Capital news as non-material under CVM Resolution No. 44/21.
Guidance, Outlook, and Risks
The filing includes a standard forward-looking statements disclaimer. Management notes that statements regarding future economic circumstances, industry conditions, and company performance are based on current views and estimates. There is no guarantee that expected events or trends will occur, and actual results may differ materially due to risks including general economic and market conditions.