Banco Bradesco SA has no plans to expand through mergers and acquisitions, Chief Executive Luiz Carlos Trabuco said on Tuesday, a sign that Brazil's No. 2 private-sector bank is opting for a more conservative approach to growth.Asked by an analyst if the bank considered mergers and acquisitions a tool to expand operations, Trabuco said that "this is the moment to intensify our focus on organic growth as much as possible." He spoke on a conference call a day after the bank reported quarterly earnings.Local media have repeatedly linked Bradesco to a potential purchase of part or all of the assets of Banco Santander Brasil SA, a deal that many analysts say could be Brazil's largest ever banking combination. Both banks have denied the reports several times.Trabuco said that in his view, Bradesco must base its expansion on its ability to tap a growing number of clients willing to purchase services ranging from checking accounts to insurance plans.
Banco Bradesco S.A. (the Bank) is commercial bank. Shares of BBD fell by 0.3% or $-0.055/share to $18.24. In the past year, the shares have traded as low as $13.17 and as high as $18.85. On average, 7357580 shares of BBD exchange hands on a given day and today's volume is recorded at 782847.
Shares of BBDO remained unchanged at $17.84. In the past year, the shares have traded as low as $11.45 and as high as $18.00. On average, 2577 shares of BBDO exchange hands on a given day and today's volume is recorded at 0.
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