|Bid||3.3700 x 28000|
|Ask||3.3800 x 38500|
|Day's Range||3.2350 - 3.4000|
|52 Week Range||2.6800 - 10.5500|
|Beta (5Y Monthly)||1.30|
|PE Ratio (TTM)||4.79|
|Forward Dividend & Yield||0.04 (1.19%)|
|Ex-Dividend Date||Jun 02, 2020|
|1y Target Est||6.71|
Brazilian lender Banco Bradesco SA said on Friday it had started to test branch employees for COVID-19, the first part of a program planned for almost all of its nearly 100,000 employees. Bradesco, the second largest private-sector Brazilian lender, said the first tests had been carried out on about 100 employees of branches in São Paulo and Rio de Janeiro. "This mapping will allow us to contribute to our national effort to flatten the disease spread curve," Bradesco Chief Executive Octavio de Lazari said in a statement.
Brazilian state-development bank BNDES will invest 4 billion reais ($703.52 million) in asset managers focused on financing small companies, according to a document released on Wednesday. BNDES said it will invest in up to 10 private credit funds, to be selected in the coming weeks. Commonly financed by institutional investors, such funds aim to provide an alternative to bank lending for companies too small to finance themselves through debt or equity offerings.
At least two Brazilian airlines and planemaker Embraer SA have hired investment banks to help with talks with state development bank BNDES for government support, sources with knowledge of the matter said. Embraer has hired Itau BBA, the investment banking unit of Itau Unibanco Holding SA, two sources said. Embraer is seeking credit lines between $1 billion and $1.5 billion after a deal with Boeing Co fell through.
Brazil's real and Mexico's peso fell about 1.7% and 1.3%, respectively. Latin American currencies were also seen underperforming over the month in comparison to their emerging market peers. The MSCI's index of regional currencies was set to fall around 3% in April, while a broader index of developing world currencies <.MIEM00000CUS was set to add 0.5%.
* Stocks and FX fall on the day amid further risk aversion * Mexican economy marks worst qtrly contraction since 2009 * Brazil's real to underperform regional peers * Chilean, Colombian pesos to gain for the month By Ambar Warrick April 30 (Reuters) - Latin American currencies dropped on Thursday, and were set to end the month lower as continued signs of economic damage from the coronavirus outbreak added to concerns over stability in regional economies. Brazil's real and Mexico's peso fell about 1.6% and 0.8%, respectively. Latin American currencies were also seen underperforming over the month in comparison to their emerging market peers.
The concert, which drew 3.3 million peak concurrent viewers - a worldwide record for YouTube - was one of the most dramatic signs yet of how live streaming has gone viral in Brazil as the coronavirus lockdown has virtually paralyzed Latin America's most populous country. With much of the world stuck at home, YouTube's top 10 most-watched concerts in real time all took place this month - and seven of those were by Brazilian artists, the Alphabet Inc-owned platform said. Mendonca led the list, followed by sertanejo duo Jorge & Mateus, ahead of Andrea Bocelli's solo Easter concert from an empty Duomo cathedral in Milan.
Brazilian banks have so far postponed 22.2 billion reais ($3.91 billion) in debt installments due in the coming months, in a move to help consumers and companies amid the coronavirus outbreak, the country's bank industry group said on Monday. In March, Brazil's top-five lenders - Itau Unibanco Holding SA, Banco do Brasil SA, Banco Bradesco SA , Banco Santander Brasil SA and Caixa Economica Federal - said they would offer clients a grace period of between two and six months to pay debt installments amid the economic crisis stemming from the pandemic.
Brazil's second largest private-sector bank, Banco Bradesco SA, plans to raise between 8 billion reais and 12 billion reais ($2.29 billion) through a new coronavirus-related central bank program, one of its vice presidents said in an interview on Wednesday. Cassiano Scarpelli said although the bank does not need the funds, it will raise the funds backed by its credit portfolio as a way of testing the central bank plan for possible future use. The liquidity plan cleared by the central bank's Monetary Council earlier this month could allow banks to issue up to 650 billion reais in loans to ease the coronavirus-related downturn, which economists say could be the region's worst in decades.
Brazil's economy ministry is talking with private banks about providing bailouts to airlines, automakers, power companies and large retailers to help them survive the coronavirus crisis, two sources with knowledge of the matter said on Wednesday. Economy Minister Paulo Guedes met with the chief executives of the largest privately-owned Brazilian lenders, Banco Bradesco SA, Itau Unibanco Holding SA, Banco Santander Brasil SA over the weekend and on Monday to discuss which debt instruments would be needed, the sources said on condition of anonymity. The heads of the Brazilian central bank, state development bank BNDES and state-controlled Banco do Brasil SA's also attended the meetings, which are expected to continue in the coming days.
Brazil's second largest private lender Banco Bradesco SA said it is likely to borrow money from the country's central bank using its credit portfolio as collateral this month, vice-president Cassiano Scarpelli said in a call on Monday. Earlier in April, the country's Monetary Council authorized the central bank to lend directly to banks using credit portfolios as collateral, in a move that would allow banks in Brazil to issue 650 billion reais in new loans.
Brazilian banks are likely to have to extend retail debt payments again as consumers and small businesses are unlikely to be able to pay it down in two months, the chief executive officer of Banco Bradesco SA said on Wednesday. In March, Brazilian banks paused retail debt payments for two months amid the crisis caused by the new coronavirus. CEO Octavio de Lazari said banks may pause debts for up to six months without being required to make provisions for them.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Banco Bradesco S.A. New York, April 02, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Banco Bradesco S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Brazil's Monetary Council has authorized the central bank to lend directly to banks using credit portfolios as collateral, according to a statement posted on the central bank's website regarding a decision announced on Wednesday. The temporary credit line to the banks will help the financial system deal with the strong demand for credit caused by the fallout from the coronavirus pandemic, the statement added. The central bank estimates total credit portfolios that may be used as collateral may reach 650 billion reais ($124 billion).
Brazil's deposit insurance fund plans to double its backing for special certificates of deposit the country's lenders sell to investors, in a move to boost the banks' liquidity amid the coronavirus crisis, according to a document posted on the fund's website. The move would mean that investors could buy up to 40 million reais ($7.6 million) of the special CDs with the guarantee they would be made whole even if the issuing bank were to fail, up from a current 20 million reais. The banks that contribute to the fund, such as Banco do Brasil SA, Itau Unibanco Holding SA and Banco Bradesco SA, will vote on the change in an online meeting on Friday, according to the document.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
* Risk appetite rises on coronavirus treatment hopes * Brazil central bank delivers expected rate cut * Chilean peso firms as copper jumps to one-week high (New throughout, updates prices, market activity and comments) By Sruthi Shankar Feb 5 (Reuters) - Latin American currencies and stocks rose on Wednesday for a third session, as appetite grew for riskier assets on reports of progress on the battle against China's coronavirus, and as Brazil's central bank lowered its benchmark interest rate. A Chinese university team said it found a drug to treat people infected with the virus while UK researchers claimed a "significant breakthrough" in the search for a vaccine.
* Reports of coronavirus treatment buoy risk appetite * Brazil's central bank to deliver modest rate cut -poll * Chilean peso firms as copper jumps to one-week high * Argentina's Buenos Aires averts falling into default By Shreyashi Sanyal Feb 5 (Reuters) - Latin American assets rose for a third straight session on Wednesday, as investors took comfort from China's efforts to ease the impact of a deadly virus outbreak, while Brazil's real remained rangebound ahead of a central bank decision. Beijing's tight containment measures, along with the billions of dollars pumped into markets by Chinese authorities helped investors regain appetite for riskier assets in the emerging markets space.
Brazil's Economy Ministry has cleared private lender Banco Bradesco SA on a tax probe, as it could not prove that the bank tried to dodge a 3 billion real tax fine, the bank said in a securities filing.
How do we determine whether Banco Bradesco SA (NYSE:BBD) makes for a good investment at the moment? We analyze the sentiment of a select group of the very best investors in the world, who spend immense amounts of time and resources studying companies. They may not always be right (no one is), but data shows […]
Shares in Brazil's biggest lenders were down nearly 1% in early Thursday trading after the country's monetary policy committee imposed a cap on interest rates on overdraft credit, in a move likely to reduce their profits. Banks will not be allowed to charge interest rates over 150% annually, or 8% monthly, the committee said, starting on Jan. 6. Currently the average annual interest rate is roughly 306%.
Brazil's second largest private sector lender Banco Bradesco SA will spin off its digital bank Next by March 2020, chief executive Octavio de Lazari told analysts on Wednesday. Digital banks in Brazil, such as Banco Inter SA, are rapidly gaining clients and being priced at higher valuations than traditional banks.
Banco Bradesco SA, Brazil's second-largest private sector lender, will shut roughly 300 branches in 2020, as part of a push to tackle operating expenses that ate into third-quarter earnings, its chief executive said on Thursday. Bradesco has been posting higher-than-expected costs since the beginning of the year, falling short of its own targets and disappointing investors.
Brazilian stocks surged Tuesday after the country's Senate approved major social security reforms. Trade Brazilian stocks using these ETFs.