Banco Bradesco (BBDC4) 29th Annual Financials CEO Conference 2024 summary

U.S. economic and banking environment

• Consumer spending remains robust, up about 4% year-over-year, supported by strong employment and income trends.

• Deposit balances, especially for lower-income consumers, remain significantly above pre-pandemic levels.

• Commercial asset quality is strong, with profitable and cash-flowing corporate clients.

• The Fed is seen as winning the inflation battle, with inflation metrics between 2% and 3%.

• A low growth, low inflation environment is expected to benefit U.S. banks.

International outlook and growth drivers

• International client sentiment is shaped by geopolitics, electoral uncertainty, and global rate structures.

• 40% of Markets and Investment Banking revenue comes from international activity, growing at 7% annually.

• Investments in global platforms and digital solutions, such as CashPro, support international growth.

• The bank leverages its large U.S. presence and scale to serve global clients efficiently.

U.S. business strategy and integration

• Operates in 95 unique U.S. markets, focusing on local integration across business lines.

• Local market structure enables seamless delivery of banking and wealth management services.

• Over 60% of wealth clients also have banking relationships, driving higher retention and satisfaction.

• Unified digital app integrates banking, investments, and retirement accounts for clients.