Banco Bradesco S.A. (NYSE:BBD) Q3 2023 Earnings Call Transcript

So agribusiness is a focus of Bradesco. We’ll continue to focus on agribusiness. And the trend is that we’ll grow this business even more. With regards to SMEs in the acquiring part of your question, we currently have an acquiring company, Cielo, in a partnership with Banco do Brasil. It is working super well. Cielo, you will remember three to four years ago, had problems and difficulties in posting good results. But they adjusted. Cielo now has been posting good results. It’s not just about the results. Most importantly is what Cielo means to the business, to the offering of products that a wholesale bank needs to have. It’s [indiscernible]. All of the companies that we have in our ecosystem of benefits in the acquiring business. So today it is working really well.

We have a good partnership with Banco do Brasil. Both banks use Cielo. And Cielo is just advantage of this Bradesco and Banco do Brasil desks. It’s growing. It is perhaps losing some accounts that in the bottom line bring losses. But sometimes you can gain market share and not be profitable. So we had to make choices so that we could have profitability in our businesses with smaller companies. But you see, Pedro, it’s all on the table. We have to look at Cielo, how important it is for our results, how we should look at that company in the portfolio of products and services that Bradesco has to offer to our clients. And acquiring is definitely very important for us to continue to grow. And again, maintaining the principality that we want to enjoy with our clients, cash management, cards obtained to grow assets and reaches liabilities.

So it’s all on the table for us to look at it.

Pedro Leduc: Thank you very much. Excellent.

Carlos Firetti: With this, we conclude the Q&A session. All the questions that have not been answered will then be answered by our IR team. Before I turn the floor back to Octavio, I would like to remind you that in our Investor Relations website you will also find this presentation and all of the material related to this earnings release call in addition to other information. Octavio. Thank you. And let’s move to your final remarks.

Octavio de Lazari: Thank you. Thank you, Cassiano. Thank you, Firetti. Thank you very much to the entire team that helped us put this together. Thank you so much for joining us. Thank you for your time. I think we talked about several aspects related to the P&L of the bank. There are still some challenges. And you’re very precise in terms of your diagnosis. We will improve. We will make important improvements. And I hope I was able to clarify your issues. But in case you still have any pending issues in mind, please get in touch with us, get in touch with anyone from our team because we really want to clarify any issue that is still pending. Thank you so much for your attention and for your kindness to join us today. I wish you a very, very good weekend. Thank you.