Bradesco

Is Bradesco safe?

For a depositor in Brazil, yes, within the FGC limit. Bradesco is the country's second-largest private bank, with R$2,543 billion of assets in September 2026, and its CET1 ratioCET1 ratioA bank's highest-quality capital (mainly shares and retained profits) as a share of its risk-weighted assets. Higher means more room to absorb losses.More in the glossary of 12.1% sits about four points above its 8.0% requirement. Its liquidity coverage ratioLiquidity coverage ratioA bank's cash and easy-to-sell assets compared with the money that could flow out in a 30-day crisis. It must be at least 100%.More in the glossary was 145%, comfortably above the 100% minimum. The FGC insures up to R$250,000 per person across the whole group.

We score it 70/100, three points below Itaú Unibanco. The gap is not about survival: both are systemically important and neither has needed a rescue. Bradesco is less profitable, holds less spare liquidity, and has the weakest customer-service record of Brazil's big banks. Like every Brazilian bank, its international ratings are capped by Brazil's BB sovereign rating.

Capital after the 2026 share issue

After a weak 2023 and 2024, Bradesco tightened lending and pushed the share of secured loans in its book to 61%. In 2026 it raised R$10 billion of new capital from shareholders, which lifted the CET1 ratio from 11.3% in June to 12.1% in September. That is a healthy cushion, but a fair part of Bradesco's capital rests on tax credits that only turn into cash if it keeps making profits; its September 2026 balance sheet shows R$113 billion of deferred tax assets, against R$188 billion of shareholders' equity.

Recurring profit was R$7.1 billion in the third quarter, a 16% return on equity excluding the new capital. Bad loans over 90 days rose to 4.6%, mostly in small-business loans backed by federal guarantee funds and in rural lending.

What the FGC covers at Bradesco

The Fundo Garantidor de Créditos is a private fund paid for by Brazilian banks. It pays out if the Central Bank intervenes in or liquidates a member bank. For a Bradesco customer:

• R$250,000 per person per financial group. Bradesco, Next, Digio and the group's other banks count as one.
• Covered: current accounts, savings (poupança), CDBs, LCIs, LCAs and similar bank-issued instruments.
• Not covered: investment funds, shares, debentures, and PGBL or VGBL pension plans, even when sold in a Bradesco branch.
• A cap of R$1 million per person across all banks, renewed every four years.

The FGC has never had to pay out for a bank of Bradesco's size. For balances above the limit, the protection is Bradesco's own capital and the extra 1.0% of CET1CET1 ratioA bank's highest-quality capital (mainly shares and retained profits) as a share of its risk-weighted assets. Higher means more room to absorb losses.More in the glossary the Central Bank requires from it as a systemically important bank.

Complaints, fines and scams

Bradesco has no money laundering scandal on the scale seen at some global banks, but its record is weaker than its rivals'. In May 2020 it paid R$92.2 million, plus R$350,000 from eight employees, to settle a Central Bank case over checks on foreign exchange transfers, and agreed to improve its anti-money launderingAnti-money launderingThe rules and checks that stop criminals from moving illegal money through banks, payment firms and crypto exchanges.More in the glossary procedures.

The bigger everyday problem is service. In the Central Bank's ranking for the third quarter of 2026, Bradesco had an index of 57.2 justified complaints per million customers, the highest among the 15 largest banks and payment firms, against 43.2 for Itaú and 29.8 for Santander Brasil. Procon consumer offices fine it often. In February 2026 Minas Gerais's state court reinstated an R$8.7 million fine from the state Procon for refusing phone cancellations and not handing over call recordings, and in August 2026 the regional Procon in Santos Dumont fined it R$104,500 for poor service and abusive practices.

On security, the main bank has not reported a large breach. A 2022 flaw at Bradesco Financiamentos exposed contract details of about 53,000 customers. In April 2026 Digio, a Bradesco-owned bank that runs the Uber Conta account, suspended its app after spotting what it called a possible hacking attempt, and said no balances or data were affected. The risk most customers actually face is social engineering: Brazilian courts have ordered Bradesco to repay some victims of the "fake bank call" scam when its fraud checks failed.

How to protect your money at Bradesco

1. Keep FGC-covered balances under R$250,000 per person across Bradesco, Next and Digio combined.
2. Check whether a product is a bank-issued CDB, LCI or LCA (covered) or a fund or VGBL plan (not covered) before you invest.
3. Set a low night-time Pix limit in the app and keep the Bradesco key on a single phone.
4. Hang up on anyone who says they are from the bank and asks you to move money or install an app; call the number on your card instead.
5. Check Registrato at the Central Bank for loans or accounts opened in your name.

How we scored it

Stability history (82) and liquidity (78) are Bradesco's strongest factors: no rescue since 2008 and an LCRLiquidity coverage ratioA bank's cash and easy-to-sell assets compared with the money that could flow out in a 30-day crisis. It must be at least 100%.More in the glossary well above the minimum. Conduct (62) is the weakest, driven by the 2020 settlement and the worst complaints index among the big banks. Capital (63) reflects a solid four-point CET1CET1 ratioA bank's highest-quality capital (mainly shares and retained profits) as a share of its risk-weighted assets. Higher means more room to absorb losses.More in the glossary buffer held back by Brazil's sub-investment-grade rating and heavy reliance on tax credits.