Banco Bradesco S.A. (NYSE:BBD) Q1 2024 Results Conference Call May 2, 2024 8:30 AM ET
Company Participants
Marcelo Noronha - CEO
Andre Carvalho - IR
Ivan Gontijo - Presidente do Grupo Bradesco Seguros
Cassiano Scarpelli - Director Vice President
Andre Rodrigues Cano - Executive Vice President at Banco Bradesco
Conference Call Participants
Renato Meloni - Autonomous
Brian Flores - Citi
Jorge Kuri - Morgan Stanley
Mario Pierry - Bank of America
Thiago Bovolenta Batista - UBS
Tito Labarta - Goldman Sachs
Eduardo Rosman - BTG
Eduardo Nishio - Genial Investimentos
Pedro Leduc - Itau BBA
Paulo Gomes - HSBC
Marcelo Noronha
Hello. Good morning, everyone. I am Marcelo Noronha. I'm here to present the results for the First Quarter of 2024 of Bradesco. I'm here live speaking from Cidade De Deus, the City of God. It's 10:31 AM. It's a great pleasure to be with you once again. And before we start the presentation, I would like to say that unlike what we did in February when I started presenting the strategy in lengthier way. The idea here is not to present a strategy in so many details again, but we will summarize everything, and then we will revisit some of the topics as the questions pop-up.
And so, I will talk throughout the presentation about what we delivered in addition to the numbers related to the first quarter. And I'm sure I think you have the opportunity to take a look at the members since we published we posted the presentations and the release after 6:00 AM. Our net income, recurring net income was BRL4.2 billion. It was flat in relation to the previous quarter, but 46% better than the last quarter of '23. And there are some points of attention here that are highlights of our balance sheet.
Some are challenging and some other topics relate to good deliveries that we've been doing. First, the improvement in ALL for both retail and wholesale. That also leads to an improvement of our NPL that is improving in all segments. We also increased loan in all segments. I think there is a colleague from the sales side the last quarter asked me a question. He said, do you think you would resume traction? And you will see through another charge that I'm about to show you that there is an inflection in that total loan portfolio and that's what we will show you.