SAO PAULO, Brazil, Nov. 7 /PRNewswire-FirstCall/-- Banco Bradesco, Brazil's largest private bank, posted Net Income of R$ 4.051 billion in the 9-month period of 2005 (equivalent to EPS of R$ 8.26), compared to a Net Income of R$ 2.002 billion in same period of 2004 (equivalent to EPS of R$ 4.22), i.e., up by 102.3%. The annualized return on average equity (ROAE) stood at 33.6% in the 9-month period (20% in 9M04). The Net Income in 3Q05 amounted to R$ 1.430 billion, which represents a 36.5% annualized ROAE for the quarter (38.1% in 2Q05).
In this nine-month period, 39% of Bradesco's Net Income was originated from the Loan Portfolio, 30% from Insurance, Private Pension Plans and Savings Bonds, 26% from Fee Income and 5% from Securities.
Net Interest Income reached R$ 12.852 billion, increasing by 32.3% in the last 12 months, and by 3.3% in the q-o-q comparison (3Q05 to 2Q05). Fee Income grew by R$ 1.190 billion between September 04' and 05', amounting to R$ 5.339 billion. In the q-o-q comparison, Fee Income evolved R$ 158 million, a 9% growth.
Bradesco's Efficiency Ratio for the accumulated 12-month period continues to present a consistent improvement, totaling 58.3% in September 2004, 48.1% in June 2005 and, finally, 45.7% in September 2005.
In line with the policy of adding stockholders' value, Bradesco shall have paid or accrued R$ 1.537 billion of Interest on Own Capital in 2005, taking into account the portion to be approved in a meeting to be held on November 11, 2005.
Bradesco's Market Capitalization surpassed the R$ 51.6 billion mark, evolving by 143.3% between September 2004 and September 2005, and by 30.5% in the quarter, indexes significantly higher than Ibovespa's, which during the same periods evolved by 35.9% and 26.1%, respectively.
This Press Release may include information on future events. These considerations may reflect not only historical facts, but also the desires and expectations of Bradesco's management. Words such as "anticipates," "desires," "expects," "foresees," "plans," "predicts," "projects," "wishes" and similar expressions are intended to identify statements, which necessarily involve known and unknown risks. Known risks include uncertainties, which are not restricted to the impact of the competitive nature of prices and services, the acceptance of services by the market, service transactions of Bradesco and of its competitors, regulatory approvals, currency, currency fluctuations, changes in the range of services offered and other risks described in Bradesco reports. This Press Release is valid as at this date and Banco Bradesco assumes no obligation whatsoever to update this release, either as a result of new information and/or future events.
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