Bank Bradesco SA ADR

BBD: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$8.80	Ywd	Xhhdldfx

Banco Bradesco Emerges From 2020 With Healthy Reserve Levels Intact

Michael Miller

Nov 5, 2021

Business Strategy and Outlook

We believe macroeconomic and geopolitical uncertainty cast a shadow on Banco Bradesco and the entire Brazilian banking industry. Given Brazil’s current political and economic instability, we believe the risks require a substantial discount before investing.

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