Banco Bradesco S.A. (NYSE:BBD) is a prominent bank in Brazil that focuses on commercial banking services such as deposits, loans, credit cards, insurance, and digital banking. The bank has assets totaling BRL 2.1 trillion ($390 billion) and reported a recurring net income of BRL 8.9 billion ($1.64 billion) in the first half of 2024.
During the second quarter of 2024, Banco Bradesco S.A. achieved a net income of BRL 4.7 billion ($870 million), marking a 12% increase from the previous quarter. The bank’s profitability has notably improved due to an uptick in net interest income, which saw a 5% increase sequentially.
The company is also focusing on enhancing its digital banking network, with 99% of transactions being conducted digitally and 95% of users accessing services through mobile or internet platforms. Additionally, Banco Bradesco S.A. is experiencing growth in its loan portfolio, with SME loans expanding by 10.2% year-over-year.
Despite its positive performance, Banco Bradesco S.A. ranks 5th on the list of worst affordable stocks under $10. While the bank shows potential as an investment, there is a stronger belief that AI stocks offer greater promise for delivering higher returns in a shorter timeframe.
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