BBD: Banco Bradesco, S.A. Instablogs

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Monday, May 6, 9:09 AM Bacon Bradesco (BBD) drops out of the bidding for Citigroup's (C) Brazilian consumer finance unit, according to a local newspaper, after getting no reply on its $1.49B offer. With Banco Santander (SAN) not yet indicating any interest, it could leave just Itau Unibanco (ITUB) as the lone potential buyer. 2 Comments [Financials]
Monday, November 5, 2012, 2:52 PM Performance in Brazil is a negative in an otherwise positive earnings report from HSBC as the bank - specifically citing Brazil - said loan impairment charges in Latin America in Q3 jumped 25%. The country's banking sector has lost 10% of its value this year thanks to slowing growth no longer being able to mask a rise in non-performing loans. Comment! [Financials, Global & FX]
Friday, August 31, 2012, 2:48 PM Fans of Brazil's Banco Bradesco (BBD) can take comfort or run for the hills as 18 out of 24 analysts surveyed have a buy rating on the lender, the highest for any stock on the Bovespa. Most are banking on a re-acceleration of the struggling economy as 500 basis points of central bank rate cuts work their way through. Similarly valued and rated is the country's largest lender, Itau Unibanco (ITUB). 1 Comment [Financials]
Wednesday, May 30, 2012, 10:06 AM Banco Santander's (STD) Brazilian unit President Marcial Portela denies reports the bank is planning to sell an equity stake to one of its competitors. "(Santander) does not need capital," says Portela. Brazilian banks mentioned as buyers are also denying reports of talks. (earlier) 1 Comment [Global & FX, Financials]
Friday, May 25, 2012, 3:06 PM With mounting losses in its home market, Spain's Banco Santander (STD) is under political pressure to unload at least a portion of its profitable Brazilian unit. Likely bidders might be Banco do Brasil (BDORY.PK) or Bradesco (BBD). Shares of Santander's Brazilian unit have been on the rise this year in anticipation of the sale. Comment! [Financials]
Friday, April 27, 2012, 3:24 PM Brazil's Bovespa continues to drop, -0.8% today as VALE, already stung by diving earnings, has its $5.9B potash project in Argentina threatened by Kirchner's shenanigans. Brazil's banks are also booking losses as the country enters the "not fun" part of a consumer credit boom. On the plus side, the central bank is aggressively cutting rates. The divergence between Brazil and the S&P. 2 Comments [Global & FX, On the Move, Quick Ideas]
Friday, December 30, 2011, 11:47 AM Banco Bradesco (BBD +1%), Brazil’s third-biggest bank, reportedly gives up on buying the Brazilian consumer finance unit of HSBC Holdings (HBC +0.3%) after offering $322M. Bradesco's offer was too low, and the two lenders didn't agree on who should assume the risk of paying labor penalties, a Brazilian newspaper says. Comment! [Financials]
Friday, December 30, 2011, 7:42 AM Brazil's surging economy of the past few years owes a least a bit to its citizen's appetite for debt (and bank willingness to issue it), making bill collecting the latest boom industry there. The volume of credit has doubled to 50% of GDP in less than a decade, with 5.6% of the $1.1T total more than 90 days past due. Some Brazilian banks YTD: BBD -19%, BSBR -41%, ITUB -24%. 1 Comment [Global & FX]
Friday, December 23, 2011, 8:31 AM Brazil dips its toe into the QE business, de facto requiring large lenders use part of their reserves deposited with the central bank to purchase loan portfolios from smaller institutions. If the big banks don't participate, they won't receive interest on a portion of their deposits with the central bank, no small inducement when the rate is 11%. Comment! [Global & FX, Financials]
Wednesday, November 30, 2011, 9:05 AM Premarket gainers: AMR +46%. MT +11%. FRO +10%. BCS +10%. IRE +9%. DB +9%. GBG +9%. CX +9%. STP +9%. RBS +8%. ING +8%. PCX +8%. BSBR +8%. LYG +8%. RCL +8%. RIO +8%. CS +8%. RDN +8%. MS +8%. X +7%. BHP +7%. FCX +7%. BBD +7%. BBVA +7%. MTL +7%. BP +7%. PHM +7%. GGB +7%. JPM +7%. AEG +7%. C +7%. TS +7%. UBS +7%. AKS +7%. ANR +6%. DANG +6%.
Losers are mainly just leveraged short ETFs: EDZ -15%. TCIX -14%. SRTY -13%. TZA -13%. FAZ -11%. OVTI -11%. ERY -10%. BGZ -10%. EEV -10%. SPXU -9%. SQQQ -9%. TWM -8%. SKF -7%. VXX -7%. SDS -6%. QID -6%. DXD -5%. DTO -5%. RWM -4%. ZSL -4%. SCO -4%. DZZ -4%. BBEP -3%. SH -3%. PSQ -3%. EUO -3%. Comment! [On the Move]
Wednesday, November 9, 2011, 4:34 PM S&P weighs in on the Brazilian banking sector, saying on "industry risk" alone, the banks are no riskier than German or U.K. lenders and perhaps safer than those in the U.S. Bank safety, however, is brought down when country-related factors are thrown in. Financial ETF: BRAF -21% YTD. Largest bank: ITUB -26% YTD. Comment! [Global & FX, Financials]
Monday, November 7, 2011, 10:37 AM Among the winners thus far today are Brazilian shares (EWZ +1%). Taking note of the woes of Brazil's stocks this year (Bovespa -20%), Barron's points out the still-solid growth of the economy as well as a central bank firmly in easing mode with a lot of room between policy rates (11.5%) and zero. Comment! [Global & FX, Quick Ideas]
Wednesday, July 27, 2011, 8:50 AM Despite a powering economy, Brazil is one of the worst-performing equity markets in 2011, -13.5%. Higher interest rates, a strong real, government interference in leaders VALE and PBR, and the emergence of the ugly part of a credit boom are to blame. However, once the rate cycle turns, the country's shares may look very attractive. Comment! [Global & FX, Quick Ideas]
Thursday, April 21, 2011, 7:15 AM Brazil's central bank hikes its benchmark interest rate 25 basis points to 12%. It's the 3rd increase this year, though the other bumps were 50 basis points. The real ETF BZF has moved sharply higher recently as the government keenly focuses on curbing inflation. Comment! [Global & FX]
Monday, April 4, 2011, 11:53 AM Saying strong economic growth prospects combined with a government committed to fiscal restraint should ease the sovereign debt burden, Fitch upgrades Brazil's credit rating from BBB- to BBB. EWZ +0.5%, BZF +0.4%, BRAF +0.2%. Comment! [Global & FX]
Wednesday, March 30, 2011, 5:45 PM Brazil's central bank signals it's nearing an end to interest rate hikes, cutting its growth forecast and saying higher inflation "due to supply shocks is acceptable." "The central bank prefers to do less rather than more in terms of raising interest rates," says Goldman Sachs. EWZ +2.0%. BZF +1.7%. Comment! [Global & FX]

BBD Banco Bradesco, S.A.

BBD

Banco Bradesco, S.A.