Brazil's Economy Continues to Weigh on Narrow-Moat Bank Bradesco
The Brazilian economy continues to weigh on the results of narrow-moat-rated Bank Bradesco. Brazil’s third-largest bank posted adjusted net income of BRL 4.385 billion, a sequential decrease of 1.7% and a year-over-year decline of 3.9%. The company was not able to benefit from impressive year-over-year net interest income growth of 8%, mostly due to higher loan losses. Despite the impressive year-over-year gain, net interest income declined sequentially by 7.5%. While Bank Bradesco generated a r...
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