Bradesco - 1Q18 Results

SAO PAULO, April 27, 2018 /PRNewswire/ -- Banco Bradesco (B3: BBDC3, BBDC4; NYSE: BBD, BBDO; e Latibex: XBBDC) announces today its results for the first quarter of 2018 (1Q18). Please refer to the information below.

The main figures reported by Bradesco are as follows:

(1) According to the non-recurring events described on page 5 of this Economic and Financial Analysis Report;
(2) Includes provision for sureties, guarantees, income from credit recoveries, discounts granted, result with BNDU (assets not for own use) and impairment of financial assets;
(3) For more information, please see note 4 – Balance Sheet and Managerial Statement of Income, in chapter "Complete Financial Statements" of this report;
(4) Besides the Loan portfolio – Brazilian Central Bank (Bacen) concept, includes sureties, guarantees, credit letters, advances on credit card receivables, debentures, promissory notes, co-obligations in real estate receivable certificates and rural credit;
(5) It excludes mark-to-market effect of Available-for-Sale Securities recorded under the Shareholders' Equity;
(6) In the last 12 months;
(7) For comparison purposes, shares were adjusted in accordance with bonuses and stock splits occurred in the periods;
(8) Number of shares (excluding treasury shares) multiplied by the closing price for common and preferred shares on the period's last trading day;
(9) Overdue loans; and
(10) Reduction related to the change in the timetable for the application of deductions on the prudential adjustments that resulted in 100% in 2018 (80% in 2017).

Recurring Net Income vs. Book Net Income

Below is a comparison between the main non-recurring events that affected the net income in the period:

(1) Consisting basically of contingent liabilities, and in the 4Q17, includes: (a) impairment of non-financial assets, in the amount of R$278 million; (b) special tax regularization program (PERT), in the amount of R$49 million; and (c) program of incentivized installment (PPI), in the amount of R$62 million. Net of tax effects.

Summarized Analysis of Recurring Income

For more information about the summarized analysis of recurring income presented as follows, see chapter "Economic and Financial Analysis" of this report.

(1) Includes impairment of financial assets without characteristic of credit;
(2) Includes the result with BNDU and provision to sureties and guarantees; and
(3) Income from Insurance, Pension Plans and Capitalization Bonds = Retained Premiums from Insurance, Pension Plans and Capitalization Bonds - Variation in technical reserves for Insurance, Pension Plans and Capitalization Bonds - Retained Claims - Capitalization Bond Draws and Redemptions - Insurance Plan, Pension Plan and Capitalization Bond Selling Expenses.

The Financial Statements can be found in Bradesco's Investor Relations website at banco.bradesco/ri.

CONTACT
Investor Relations Team
+55-11-2194-0922
investors@bradesco.com.br

SOURCE Banco Bradesco S.A.