Apresentação do PowerPoint · 2020. 8. 5. · 20.6 11.7 11.9 2Q19 1Q20 2Q20 133.6 129.5 135.1 2Q19 1Q20 2Q20 Financial Highlights ROE % 6 1.1 % y/y 4.3 q/q 8.7 pp y/y 0.2 pp q/q
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Octavio de Lazari Jr.
CEO
André Cano
Executive Vice-President
Vinicius Albernaz
CEO Bradesco Seguros
Leandro Miranda
Executive Officer and IRO
Carlos Firetti
Director and Head of IR
Second quarter2020R e s u l t s
Economic scenario
remains challenging,but the worst moment apparently has passed. We expect a fall in the GDP of
4.5% in 2020
Our loan portfolio grew 0.9% in the
quarter and 14.9% in 12 months
Anticipation of the crisis effects with the strengthening
of provisions in the Bank and Insurance Group
Highlights2Q20
2
We have extended
R$61 billion in loan operations
Liquidity continued expanding and the level I capital index
increased 1.1 p.p.
Strong cost control allowed a reduction in 3.0% in operating expenses in the 1H20
Performance during thePandemic
Commitment tosociety
Donations to fight the pandemic
Supporting ourcustomers
R$61 billion in extended loans
1.9 millioncontractsextended
94% of office staff
and 50% of the branches staff in home office
Rapid tests availablefor 100% of the employees
Health and well-beingof our people
Participation in the
Government Programs
Viva BemProgram and Telemedicine for 100% of the employees
3
5 million rapid tests
15 million masks
30 CTS in additionto other equipmentin participation with Itaúand Santander
Construction of the Field Hospital (RJ)
Deployment of theField Hospital in Salvador
500 multiparametermonitors
42 thousand Tests –COVID-19, forthe communities
Support in the Production of low-cost ventilators
150 thousand basic food baskets for the municipal communities
255% in opening of new accounts via Mobile App
Digital Channels
Fall of 67% in teller transactions in 2Q20
Increase of 964 thousandaccount holders with digital profile in the total base in the quarter
4
Intensification of the Mobile Use
33% increase in the mobile transactions
19% increase in the mobile + internet transactions
4,119
4,489
4,916
2Q19 1Q20 2Q20
2,755 3,1273,652
2Q19 1Q20 2Q20
Mobile Transactions Million
66.4
134.4
235.7
2Q19 1Q20 2Q20
Opening of accounts via Mobile AppIn thousand
59.348.1
16
2Q19 1Q20 2Q20
Teller TransactionsMillion
16.4
17.6
18.5
2Q19 1Q20 2Q20
Account holders with Digital ProfileMillion
33%
19%
Mobile + Internet TransactionsMillion
75%
255%
17%
10%
13%
-73%
-67%
5%
15.117.3 18.7
2Q19 1Q20 2Q20
Mobile UsersMillion
24%
8%
Ágora and next
367 k clients449+22.4%
+85k new clients
Opening ofaccounts(montlhyvolume)
Dec 2019 Jun 2020
R$46.9billion in stock
Growth of the client base
Ágora & next partnership
Investment houseof next
Integration between Apps and journey of registration facilitated
Expectationof 650+ thousandnew registers
Increment in the fundingVision: volume under custody
R$50.6+7.7% ytd
5
Jan-19
Actual
4.7
4.4
4.0
4.4
1H19 1H20
144
296
105%
App Store
76%non-account holders of Bradesco
77.6NPS
+112%
TransactionMillion
Active Accounts
7,964
16,913
Dec-19 Jun-20
500 thousand
2.7 million
~3.5 million
Dec-18 Jun-20 Dec-20*
Jan-19
Actual
20.6
11.7 11.9
2Q19 1Q20 2Q20
133.6
129.5
135.1
2Q19 1Q20 2Q20
Financial Highlights
ROE %
6
1.1% y/y 4.3% q/q
8.7pp y/y 0.2pp q/q
Shareholders’ EquityR$ billion15.3%y/y
NII
3.2% q/q
Net Income
5.5% y/y
OperatingExpenses
154.9% y/y
ExpandedAllowance for Loan Losses (ALL)
¹Includes the results of capitalization
Variation %
2Q20 6M202Q20
x 1Q202Q20
x 2Q196M20
x 6M19R$ million
Net Interest Income 16,684 31,183 15.1 15.3 9.2
Expanded Allowance for Loan Losses (ALL) -8,890 -15,598 32.5 154.9 120.0
Gross income from financial intermediation 7,794 15,585 - (29.0) (27.4)
Income from insurance, pension plans and capitalization bonds¹
3,778 6,709 28.9 5.1 (9.6)
Fee and Commission Income 7,626 15,909 (7.9) (7.9) (2.7)
Operating Expenses -11,459 -23,216 (2.5) (5.5) (3.0)
Tax Expenses and Equity in the earnings (losses) of unconsolidated and jointly controlled subsidiaries
-2,035 -3,886 9.9 20.7 14.6
Operating Income 5,704 11,101 5.7 (36.9) (38.0)
Non-operating Income/Non-controlling Interests -84 -129 - - -
IT/SC (Income Tax/Soc. Contrib.) -1,747 -3,346 9.3 (31.1) (34.9)
Recurring Net Income 3,873 7,626 3.2 (40.1) (40.0)
Expanded Loan Portfolio
18.2% y/y
LargeCorporates
14.2% y/y
Payroll-deductible Loans
7%
Total
y/y
Companies
y/y12%
7
100
118107
2Q19 1Q20 2Q20
100128
112
2Q19 1Q20 2Q20
Loan Originationper business day
Individuals
y/y-2%
100 102 98
2Q19 1Q20 2Q20
18.8%y/y
Real EstateFinancing
Variation % % Total
Jun-20Jun-20 x
Mar-20
Jun-20 x
Jun-19
Jun-20R$ million
Companies 425,111 2.2 16.4 64.3
Large corporates 310,224 4.5 18.2 46.9
Micro, Small and Medium-Sized Enterprises 114,887 (3.6) 11.7 17.4
Individuals 236,004 (1.3) 12.3 35.7
Payroll-deductible Loans 65,448 0.2 14.2 9.9
Real Estate Financing 49,049 6.2 18.8 7.4
Credit Cards 35,074 (11.2) 0.8 5.3
Vehicles Financing 28,292 (4.0) 8.7 4.3
Personal Loans 29,174 (1.6) 22.1 4.4
Other 28,967 (0.5) 8.2 4.4
Total of Expanded Loan Portfolio 661,115 0.9 14.9 100.0
Without exchange variation 0.6 12.4
8
Funding & Loans
-13.1
83.2
6M19 6M20
Net fundingR$ billion
R$24.1biRelease of reserve requirements in Mar/20
R$38.0biGrowth of the Bacen Portfolio in 2020
1- Does not considers debentures
Variation %
Jun-20Jun-20 x
Mar-20
Jun-20 x
Jun-19 R$ million
Funding vs. Loans
Demand Deposit + Sundry Floating 49,402 20.3 34.2
Savings Deposit 123,270 9.0 13.6
Time Deposit + Debentures 335,273 29.9 70.9
Funds from Financial Bills 150,996 (5.8) (5.3)
Customer Funds¹ 658,941 15.1 31.6
(-) Reserve requirements -80,949 22.8 (6.8)
(-) Available Funds (Brazil) -17,337 16.4 48.4
Customer Funds Net of Reserve Requirements 560,655 14.0 39.3
Borrowing and Onlending 54,500 (9.5) (5.2)
Other (Securities Abroad + Subordinated Debt + Other Borrower / Cards)
79,679 (2.6) 0.1
Total Funding (A) 694,834 9.6 28.8
Expanded Loan Portfolio (Excluding Sureties and Guarantees (B)
578,699 1.5 15.4
Loan to Deposit (B / A) 83.3% (6.7) p.p. (9.7) p.p.
Loan Portfolio Breakdown
9
Sectors most exposed to the impacts of the current crisis
0.6%Leisure andtourism
0.2%Airlinecompanies
Concentration among the largest debtors 1.9%
12.3 bi
10.7%
70.9 bi
17.2%
113.9 bi
27.7%
183.1 bi
34.8%
230.0 bi
93%Real
Exposure by currency Warranty Coverage(Bacen Portfolio)
59%WithGuarantee
Diversified loan
portfolio and with low
concentration in areas
of greater risk
risk (R$ billion)
risk / portfolio (%) Largest borrower 10 largest borrowers 20 largest borrowers 50 largest borrowers 100 largest borrowers
Outras
Vehicles Financing
Personal Loans
Credit Card
Real Estate Financing
Payroll-deductible Loans
Micro, Small and Medium-Sized Enterprises
Large corporates
4.4%
4.3%
4.4%
5.3%
7.4%
9.9%
17.4%
46.9%
Portfolio diversification by Segment
Provision based on quantitative models
Considers historical and prospective information, in addition to incorporating inputs from the Management
Reflects various scenarios, including adverse scenario
Specific + Generic ALL meets regulatory requirements
Complementary ALLreflects the expectation of future deterioration and uncertainties
10
Allowance for Loan LossesR$ billion
37.0 36.9 36.1 36.8
40.5
43.2
8.8% 8.6%8.2% 8.1%
8.5%9.0%
1Q19 2Q19 3Q19 4Q19 1Q20 2Q20
ALL Balance ALL Balance / Bacen Portfolio
Expanded Allowance for Loan Losses (ALL) ExpensesR$ billion
3.93.4 3.5 3.8 3.6 3.5 3.3
4.0
6.7
8.9
3.2%2.7% 2.7%
2.8%2.6% 2.5% 2.3%
2.6%
4.1%
5.4%
1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20
Expanded ALL Expanded ALL, Excluding Recovery Gains / Expanded Portfolio - Annualized Rate
R$3.5 bi
R$7.5 bi
Expanded ALL quarterly average
Provision for Credit Risk
ALL balance includes Specific, Generic and Complementary
Large Corporates
SMEs
3.63.3
3.7
3.0
1.61.3 1.5
1.2
Sep-19 Dec-19 Mar-20 Jun-20
1.9
0.8
1.2
0.5
1.0
0.1 0.20.2
Sep-19 Dec-19 Mar-20 Jun-20
4.33.7
4.5
3.1
1.91.4 1.8
1.3
Sep-19 Dec-19 Mar-20 Jun-20
Total
Excluding 100% provisioned
Over 90 days
Delinquency Ratio
11
Over 90 days
15-90 days
6.66.1
5.2 4.6 4.3
4.3
4.5 4.03.5
4.2
4.8
2.6
6.1
6.55.8 5.9
5.5 5.45.1
5.4 5.2 5.24.8
5.3 5.24.8 4.8
5.6
3.6
2.8
0.8
2.2
0.91.4
1.8
0.6
1.41.7 1.5
0.9 0.91.5
1.10.7
1.1
0.3
5.24.6 4.6
4.3 4.2 4.34.0 4.2 4.0 3.9
3.53.8 3.9
3.5 3.64.2
2.4
Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20
Micro, Small and Medium-Sized Enterprises Individuals Large Corporates Total
7.27.6
8.68.3
7.26.8 6.6
6.1
5.2
3.7 4.5 3.1
5.86.5
6.9 6.76.2
5.8 5.55.1
4.8
4.7 4.4 4.3 4.3 4.3 4.44.8 4.5
0.8
2.0
1.2
2.3
1.5 1.8 1.9 2.01.7 1.5 1.5
1.0 0.8
1.9
0.81.2
0.5
4.65.4 5.5 5.6
4.9 4.8 4.7 4.43.9 3.6 3.5 3.3 3.2
3.63.3
3.73.0
Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20
Individuals
NPL Creation
SMEs
Recurrent ALL Expenses vs. NPL Creation >90 days R$ billion
NPL Creation
4.0 4.5 3.8 4.55.8
3.7
7.0
2.2
4.9 4.56.3
4.3 4.5 4.6
7.48.7
121% 100%165%
96% 78%126% 105%
398%
3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20
NPL Creation - 90 days Gross ALL Expense – Recurrent Gross ALL Expense - Recurrent / NPL Creation 90 days
LargeCorporates
12
1T19 2Q19 3T19 4T19 1Q20
2.8 3.0 3.24.0
2.4
2Q19 3Q19 4Q19 1Q20 2Q20
0.3
1.5
-0.4
0.9
-0.3
1.4 1.4
0.9
2.1
0.1
2Q19 3Q19 4Q19 1Q20 2Q20
2Q19 3Q19 4Q19 1Q20 2Q20
Individuals
Large Corporates
SMEs
172% 171%161% 157% 158%
189%
Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20
925%1142%
453%
1002%667%
1593%
Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20
271% 258% 249% 283% 249%
375%
Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20
Over 90 days - per segment
Coverage Ratio
470% 474%
548%
517%
392%
481%
425%
602%
243% 245%
269% 267%
226% 245% 228%
299%
125% 125% 126%122%
116%120%
121% 124%
Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20
excluding 100% provisioned over 90 days over 90 days + renegotiated
Coverage Ratio
13
Facing the Impacts of the Crisis – Extended Loans
93%No history of arrears in the last 12 months
14
14.0 yearsAverage time of relantionship
71%Withreal guarantee
96%Rating AA to C
ExtendedOperations – Jun/30
Number Of Operations:
1.9 million
Total balance:
R$61 billion12.8% of loanportfolio
Value ofinstallments:
R$8.2 billion
Working Capital
32%
Real Estate Financing
29%
Personal Loans
12%
Vehicles Financing
10%
BNDES
7%
Others
10%
Companies
50%
Individuals
50%
of the renegotiations in the 2Q20 were less than 90 days in arrears
16.9% 16.7% 19.0% 17.4%20.8%
11.5%
16.0%
Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20
With the exclusion of portfolio sale / extension / denominator effect
Delinquency ratio over 90 days
4.5% 4.6%4.2% 4.2% 4.1%
4.8%
Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20
Renegotiated Loans / Loans
12.2 12.3 13.0 13.6 14.1
18.3
6.7 7.3 5.8 5.4 5.5
4.818.9 19.618.8 19.0 19.6
23.1
Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20
Originated from portfolio in write-off Originated from loan portfolio
Renegotiated Portfolio
R$ billion
15
Allowance for Loan Losses / Loans
Large Corporate
20%
SMEs
32%
Individuals
48%
80.3% 78.0%66.4% 66.8% 66.8% 68.2%
Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20
65%
Portfolio Balance
Net Interest Income
R$ milhões
Variation %
2Q20 x 1Q20
2Q20 x 2Q19
6M20X 6M192Q20 6M20
Client Portion1 13,163 26,127 1.5 8.0 8.2
Market Portion2 3,521 5,056 129.4 54.2 14.6
Net Interest Income 16,684 31,183 15.1 15.3 9.2
Client Portion Variation2Q20 X 1Q20
Net Interest Margin
16
8.4%7.8%
7.0% 6.8% 6.9%
12.0%11.3%
10.6%10.0%
9.5%
1Q17 1Q18 1Q19 1Q20 2Q20
NIM Total NIM Clients
84%
16%
ClientPortion
Market Portion
Client Portion: loan and funding spreads
Market Portion: ALM, arbitrations and trading
6M20
1 Corresponds to the result of the operations with assets (credit and similar) and liabilities sensitive to spreads. The calculation of the result of assets sensitive to spreads takes into consideration the original rate of operations deducted from the internal costof the funding and the result of liabilities represents the difference between the cost of funding and the rate of transfer of these resources; and 2 Composed by the Assets and Liabilities Management (ALM), Trading and Own Working Capital.
Fees and Comissions Income
29.2
30.731.3
2Q19 1Q20 2Q20
Checking Accounts HoldersIn million
17.1
30.338.9
2Q19 1Q20 2Q20
17
Equities trading volume -IndividualsIn R$ billion
2.7% 6M/6M
Total FeeIncome
8.9% 6M/6M
Card Income
3.1% 6M/6M
CheckingAccount
50.0 53.841.0
2Q19 1Q20 2Q20
Variation %
6M202Q20
x 1Q202Q20
x 2Q196M20
x 6M19% Total
2Q20R$ million 2Q20
Card Income 2,352 5,052 (12.9) (15.4) (8.9) 30.8
Checking Account 1,921 3,901 (3.0) (0.6) 3.1 25.2
Asset Management 814 1,727 (10.8) (12.3) (8.8) 10.7
Loans Operations 657 1,378 (8.9) (13.0) (7.0) 8.6
Collections and Payments 621 1,280 (5.8) (1.7) 0.5 8.1
Consortium Management 439 929 (10.4) (3.3) 2.0 5.8
Custody and Brokerage Services 303 649 (12.4) 13.1 22.0 4.0
Underwriting / Financial Advisory Services 232 424 20.8 (14.1) 8.4 3.0
Other 287 569 1.8 10.4 5.0 3.8
Total 7,626 15,909 (7.9) (7.9) (2.7) 100.0
Business Days 61 123 (1) (1) -
Card TransactionsIn R$ billion
Operating Expenses
99,19897,234 96,787
2Q19 1Q20 2Q20
Employees
Branches
-2.4%
-0.5%
18
49.2% 49.3% 44.0%
2Q19 1Q20 2Q20
5.5% y/y
Total Expenses
11.9% y/y
PersonnelExpenses
11.6%y/y
Total expenses excluding Insuranceprovision*
* Provisions in the Insurance Group for claims in light of the adverse Economic Scenario: 1Q20 R$361 million in 2Q20 R$747 million; 6M20 R$1,108 million
Operating Efficiency RatioQuarterly
4,5814,400
4,167
2Q19 1Q20 2Q20
-9.0%
-5.3%
Variation %
6M202Q20
x 1Q202Q20
x 2Q196H20
x 6H19% Total
2Q20R$ million 2Q20
Personnel expenses 4,833 10,154 (9.2) (11.9) (4.6) 42.2
Payroll/Social Charges 3,027 6,101 (1.5) 1.3 3.3 26.4
Benefits 1,171 2,386 (3.6) (0.9) 1.4 10.2
Management and Employee Profit Sharing 452 1,230 (41.9) (38.2) (13.7) 3.9
Training / Termination Costs / Other 183 437 (28.0) (68.9) (54.6) 1.6
Administrative Expenses 4,970 10,048 (2.1) (2.6) (0.8) 43.4
Outsourced Services 1,204 2,488 (6.2) - 4.8 10.5
Depreciation and Amortization 799 1,598 - 6.1 8.3 7.0
Data Processing 631 1,142 23.5 5.7 (6.2) 5.5
Advertising and Marketing 269 560 (7.6) (20.2) (11.4) 2.3
Other 2,067 4,260 (5.7) (6.6) (3.8) 18.0
Other Operating Expense Net of Revenue 1,656 3,014 21.9 8.1 (4.5) 14.5
Total Operating Expenses 11,459 23,216 (2.5) (5.5) (3.0) 100.0
Total excluding Insurance Provision* 10,712 22,108 (6.0) (11.6) (7.6)
19
Efficiency Levers
Breadthof command(Span of Control)
BackOffice(Centralization andAutomation)
Consolidation ofStructures
Model of Customers Service (Digital)
Incorporation(Closure) of Branches
Rationalization and elimination of redundancies
Model of Branches
Hub vs. Satellite
Home Office
19
in 2020 and 2021 with the effect of measures already identified
Nominal dropin costs
Participation in Bradesco’s Results
Insurance Operations
20
R$ million
Income of the Operation
2,065 2,184 2,947
1,529 747831
3,5942,931
3,778
2Q19 1Q20 2Q20
Operating Income
4,556 5,131
2,864 1,578
7,4206,709
1H19 1H20
Financial Income
29%
33%
1H19 1H20305 203666 540
912382
1,764
1,394
1H19 1H20
Capitalization Health Property and Casualty & Others Life and Pension Plans
R$ million Net Income
30.9%3,647
2,519
ROE23.6%
ROE14.4%
84.1%80.8% 80.3%
84.5% 84.4% 84.2% 83.6%
74.5%
83.2%
72.4%70.4%
68.5%72.5% 74.2% 74.2% 72.9%
62.4%
70.7%
55.0%
60.0%
65.0%
70.0%
75.0%
80.0%
85.0%
90.0%
95.0%
100.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20
Combined Ratio Claims Ratio
Quarterly
Combined Ratio and Claims Ratio
Includes the effects of the provisions for adverse economic scenarios
Capital and Liquidity
BIS Ratio
10.6 11.4 12.3 13.0 13.7 13.4 12.0 10.3 11.5
14.916.8
17.8 18.1 18.6 18.116.5
13.9 15.0
11.412.2
13.7 14.4 15.0 14.713.3
11.4 12.5
0.8 0.81.4 1.4 1.4 1.3
1.31.1
1.1
jun/18 set/18 dez/18 mar/19 jun/19 set/19 dez/19 mar/20 jun/20
Total Tier I & II Common Equity Additional Capital
Changes in the Tier I Ratio in the quarter
10.3 11.5
1.1
0.3 1.0
(0.2)1.1
11.412.5
Mar-20 Net Income and
Interest on
Shareholders'
Equity
MTM of Securities
and Prudential
Adjustments
Weighted Assets Jun-20
Common Equity Additional Capital
%
21
170.1%LCR NSFR
120.6%
Regulatory Capital and RWA
Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20
Variation %
Jun-20Jun-20 x Mar-20
Jun-20 x Jun-19
(R$ million)
Regulatory Capital 131,612 9.5 0.6
RWA 875,011 1.4 24.7
Credit Risk 786,300 0.6 24.3
Operational Risk 63,720 - 10.8
Market Risk 24,990 37.5 114.2
22
Growth of the loan portfolio in 2020 above the Brazilian banking system
Lower provision expense in 2H20 compared to 1H20 and significantly lower in 2021 compared to 2020
Structural reduction of costs through the implementation of actions, resulting in a nominal decrease of costs in 2020 and in the next few years
Net interest income growing in line with the loan portfolio
Fee revenues pressured by the economic scenario
Insurance results remainspressured by weaker financial results even with a lower claimsratio
FinalHighlights
23
This presentation may contain forward-looking statements. Such statements are not statements of
historical facts and reflect the beliefs and expectations of the Company's management. The words
"anticipates”, "believes”, "estimates”, "expects”, "forecasts”, "plans”, "predicts”, "projects”, "targets"
and similar words are intended to identify these statements, which necessarily involve known and
unknown risks and uncertainties. Known risks and uncertainties include but are not limited to the
impact of competitive services and pricing market acceptance of services, service transactions by the
Company and its competitors, regulatory approval, currency fluctuations, changes in service mix
offered, and other risks described in the Company's registration statement and other Securities and
Exchange Commission filings. Forward-looking statements speak only as of the date they are made
and Banco Bradesco does not assume any obligation to update them in light of new information or
future developments.
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