BBD

Based on the **Reference Form 2019** provided for **Banco Bradesco S.A.**, here is a summary of the key information regarding the issuer's history, activities, financial condition, and governance: ### 1. Issuer History and Overview * **Establishment:** Founded on **January 5, 1943**, as *Banco Brasileiro de Descontos S.A.* * **Evolution:** * **1948:** Entered a period of intense expansion. * **1988:** Reorganized as a Multiple Bank (*Banco Bradesco S.A. – Banco Comercial e de Crédito Imobiliário*) following Central Bank regulations. * **1989:** Name changed to *Banco Bradesco S.A.* * **1992:** Incorporated *Banco Bradesco de Investimento S.A. (BBI)*, establishing its investment portfolio. * **Status:** One of the largest banks in Brazil by total assets, offering a wide range of banking, financial, insurance, and pension products. ### 2. Main Business Activities Bradesco operates through two primary segments: 1. **Banking Sector:** * **Products:** Deposits (checking, savings, time deposits), loans (individuals, corporate, real estate, rural, vehicle), credit cards, cash management, and international banking. * **Investment Banking:** *Bradesco BBI* handles M&A, project financing, and securities issuance. * **Asset Management:** *BRAM* manages mutual funds, portfolios, and investment clubs. * **Digital Channels:** Includes *Bradesco App*, *Internet Banking*, *ATMs*, and the digital-only platform *next*. 2. **Insurance, Pension Plans, and Capitalization Bonds:** * Operates under **Grupo Bradesco Seguros**, a leader in the Brazilian insurance market. * **Products:** Life/accident insurance, health insurance (*Bradesco Saúde*), auto/property insurance (*Bradesco Auto/RE*), pension plans (*Bradesco Vida e Previdência*), and capitalization bonds (*Bradesco Capitalização*). ### 3. Financial Highlights (2019) * **Net Income:** R$ 21.173 billion (a 26.4% increase compared to 2018). * **Profitability:** * Return on Average Shareholders' Equity (ROAE): **16.0%**. * Return on Average Assets (ROAA): **1.6%**. * **Balance Sheet:** * Total Assets: R$ 1.379 trillion. * Shareholders' Equity (Controlling): R$ 135.099 billion. * Loans and Advances to Customers: R$ 457.392 billion (11.2% growth). * **Basel Index:** The total Basel Index stood at **16.5%** as of December 2019. * **Market Value:** R$ 282.075 billion (December 2019). ### 4. Corporate Governance and Management * **Structure:** Managed by a **Board of Directors** (10 members, 2 independent) and a **Board of Executive Officers** (94 members). * **Committees:** Includes Statutory Audit and Remuneration Committees, as well as non-statutory committees for Risk Management and Capital Allocation. * **Control:** Controlled by a group of shareholders including *Cidade de Deus Cia Cial Participações*, *Fundação Bradesco*, and *NCF Participações S.A.* * **Sustainability:** Bradesco is a signatory to the **Principles for Responsible Banking (PRB)** and the **Equator Principles**. It aims to have 100% of its operations supplied by renewable energy by 2020 and neutralize 100% of greenhouse gas emissions from operations. ### 5. Regulatory Environment * **Regulators:** The bank is supervised by the **Central Bank of Brazil (BCB)**, the **National Monetary Council (CMN)**, and the **Securities and Exchange Commission (CVM)**. * **Compliance:** Adheres to strict capital adequacy (Basel III), liquidity (LCR/NSFR), and anti-money laundering (AML) regulations. * **IFRS Adoption:** The bank adopted **IFRS 9** (Financial Instruments) in 2018 and **IFRS 16** (Leases) in 2019. ### 6. Recent Strategic Moves (2019-2020) * **Acquisition:** Announced the acquisition of **BAC Florida Bank** (USA) for approx. US$ 500 million to expand services for high-net-worth clients in the US. * **Divestitures:** Sold its stake in **Chain Serviços e Contact Center S.A.** and **NCR Brasil**. * **Merger:** Merged **Banco Bradesco Cartões S.A.** into Banco Bradesco S.A. to optimize operations. * **COVID-19 Impact:** The report notes the suspension of 2020 financial projections due to the pandemic and highlights the bank's support measures (donations of tests/masks, liquidity support for clients). ### 7. Share Capital * **Structure:** Composed of Common and Preferred shares (no par value). * **Capital Increases:** The bank has a history of issuing bonus shares (e.g., 20% bonus in 2019, 10% in 2018 and 2017). * **Trading:** Shares are listed on B3 (Brazil) and traded internationally via ADRs (NYSE) and GDRs (Madrid). This summary encapsulates the core data points from the 2019 Reference Form, reflecting Bradesco's position as a major, diversified financial institution in Brazil with a strong focus on governance and sustainability.