Banco Bradesco SA (ADR)(NYSE:BBD) reported that adjusted net income for the first six-months of 2016 came at R$8.274 billion compared to R$8.778 billion in the same period of FY2015, corresponding to per-share earnings of R$3.14 and Return on Shareholders’ Equity of 17.4%.
The adjusted net income is constituted of R$5.730 billion from financial segment, forming 69.3% of the total adjusted net income. Of R$2.544 billion from pension plans, capitalization bonds operations and insurance, which combined accounts for over 30%.
The highlights
Earlier in July, Banco reported that the acquisition of full share capital of “HSBC Brasil” had been completed and they have paid R$16.0 billion to HSBC Latin America Holdings Ltd. This value can vary depending on the balance sheet of “HSBC Brasil.” In the first six months of FY2016, the company has received many awards and acknowledgments for its performance.
For the fifth time in a row, Banco Bradesco was voted as the “Best Bank in the nation,” while for the second consecutive year, Bradesco BBI was acknowledged as the “Best Investment Bank in country” in the publication of “Awards for Excellence 2016” in Euromoney magazine. Also, the bank was awarded as “Best Bank of the Year” by Executivos Financeiros, with 14 awards. Standard & Poor’s awarded the level AMP-1 to Bradesco Asset Management, which is termed as the highest scale rating of quality management.
The performance
Banco was featured in the renowned “Global Finance 2016” awards, and awarded with two honors: “Novo Net Empresa” for mobile phones, in the Transaction Services category in Global Finance magazine, and “Receba Facil”, in another category of Trade Finance. In its latest report, the bank reported that its total assets as of June 2016 jumped more than 7% to R$1.105 trillion compared to the total assets recorded in June 2015. The market capitalization came at R$144.366 billion.
