Message From Management
2016 was a year of major accomplishments. The conclusion of the acquisition of HSBC Bank Brasil S. A. – Banco Múltiplo, the largest ever of our history, enabled us to expand our account holder base and our activities in strategic markets, such as the Southeast, Midwest and South of the country. In a short space of time, the platforms were integrated, the work force was engaged and the entire brand was substituted fully in line with the targets established.
The sponsorship of the 2016 Rio Olympic and Paralympic Games was yet another demonstration of confidence in the country’s capacity to get things done. The Games provided the Bradesco brand with global exposure and made our commitment to a constructive mindset that motivates and involves people, a nation’s most valuable asset, visible to the world.
Faced with the challenges posed by the current economic conjuncture, we reacted by growing investments and incentives for businesses. Our budget and strategic planning were adhered to successfully, we improved processes aimed at greater efficiency and innovated in all areas of activity, supported by a service network covering the entire country.
Our work force is committed and determined to always do its best, aligned with the demands of the moment.
Committed to the Sustainable Development Goals (SDG), we commemorated the 60th anniversary of the Fundação Bradesco, our main social action. With 40 schools for children and young people located primarily in disadvantaged regions, the Fundação has become a benchmark in education in Brazil, illuminating the path towards social inclusion and driving the common good.
Our robust performance in the year is evident in our numbers. Adjusted net income totaled R$17.121 billion, with shareholders receiving interest on own equity totaling R$6.976 billion, corresponding to 48.7% (net of income tax – IRRF – 41.4%) of adjusted earnings. Our insurance arm, Bradesco Seguros Group, made a significant 32% contribution to this result. Total assets reached R$1.294 trillion, growing 19.8% over the previous year, equity totaled R$100.442 billion and the Operating Efficiency Ratio reached 39.5%.
The dimensions of these numbers demonstrate our robustness and renew our future vision: we adopt the most efficient corporate sustainability practices, strengthening our long-term prospects.
Brazil has the credentials to advance and to resume growth. Confident that in 2017 we will achieve further conquests, we reaffirm our disposition to overcome obstacles with investments and a constructive mindset, offering our clients, shareholders and investors the best products and services.
We would like to thank everyone for their support, their preference and, mainly, for the confidence they deposit in Bradesco. We also wish to thank our employees and third-party employees for their dedication and total commitment, which were fundamental for the results achieved.
Lázaro de Mello Brandão
Chairman of the Board of Directors
Luiz Carlos Trabuco Cappi
CEO
things done