10 Worst Performing Bank Stocks in 2024

6. Banco Bradesco S.A. (NYSE:BBD)

Price: $2.11

Number of Hedge Fund Holders: 22

1-Year Price Performance: -23.27%

Banco Bradesco S.A. (NYSE:BBD) together with its subsidiaries provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two main segments Banking and Insurance. The Banking segment provides, checking accounts, savings accounts, loans, and credit card services.

The stock has been down 23% over the past 12 months, however, the fiscal fourth quarter of 2024 highlighted growth across several financial indicators. The bank reported a net income of BRL 5.4 billion during the quarter, marking a 37% year-over-year increase, with full-year net income reaching BRL 19.6 billion, up by 20%. Management of Banco Bradesco S.A. (NYSE:BBD) attributed growth in net income to its strong loan portfolio. The loan portfolio exceeded BRL 980 billion, growing by approximately 12% year-over-year, with significant growth in micro, small, and medium enterprises (MSMEs).

The bank is also focusing on improving its digital presence during the fourth quarter; nearly all transactions (99%) occurred through digital channels, enhancing efficiency and customer experience. Management also noted about closing some of its physical branches to allocate more funds for its digital endeavor. It is one of the worst-performing bank stocks in 2024.