Bradesco Misses on EPS and Revenue in Q3 2026 as Credit Costs Climb
As seen on the 24/7 Wall St. homepage on October 23, 2026.
Loan loss provisions rose 24.3% year over year to $2.11 billion, with both EPS and revenue missing expectations. CEO Marcelo Noronha says the macro backdrop keeps deteriorating and is holding the bank to a moderate risk appetite, even as full-year loan growth guidance of 8.5% to 10.5% stays intact.
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Banco Bradesco reported adjusted earnings per share of $0.13 for the third quarter of 2026, missing expectations, with revenue also missing expectations. CEO Marcelo de Araujo Noronha described the backdrop plainly: the macroeconomic environment continues to deteriorate, interest rates remain high, and the economy is slowing down.
Credit costs are the pressure point investors cannot ignore: loan loss provisions climbed 24.3% year over year. Management pointed to MSME working capital and rural portfolios as the segments driving that deterioration, and noted high household debt-service-to-income ratios as a constraint on the consumer side.
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Net interest income grew 14.2% year over year, with fee and commission income, card income, the efficiency ratio and the secured share of the loan portfolio all improving. Those results reflect the bank's ongoing effort to shift toward lower-risk credit and broaden non-credit revenue streams.
Despite the misses, Bradesco held its full-year 2026 guidance intact for loan portfolio growth and fee and commission income growth, with management forecasting GDP growth of 1.7% in 2026. Noronha's stated posture is a moderate risk appetite and an accelerated transformation plan, leaving investors to weigh whether the bank's internal progress can outrun the external headwinds.