Company Profile
- Bradesco Bank (“Bradesco”) (“the bank”) is a privately held subsidiary of publicly traded, Brazilian based, Banco Bradesco S.A. (NYSE: BBD). Operating out of its Coral Gables, FL headquarters, Bradesco primarily serves high net worth non-resident aliens through real estate lending and private banking and wealth management services. The bank also provides corporate and institutional banking (“C&IB”) to international corporations and depository institutions largely located in Central and South America.
- The loan portfolio remains heavily concentrated in 1-4 family loans (63% of total loans at 4Q23), though in recent years, the bank’s C&IB portfolio has been its fastest growing lending segment, expanding to 26% of total loans at year-end 2023. Additionally, Bradesco continues to expand its CRE lending in an effort to further diversify its loan portfolio, though this remained a modest contributor at less than 10% of total loans at YE23.
- BBD,…