10 Unexpected Market Movers – What Propelled Double-Digit Gains?

7. Banco Bradesco S.A. (NYSE:BBD)

Banco Bradesco grew its share prices by 18.94 percent on Thursday to end at $2.7 apiece as investors cheered its strong earnings performance in the first three months of the year.

During the period, Banco Bradesco S.A. (NYSE:BBD) achieved a 39.3-percent increase in its recurring net income at R$5.9 billion versus the same period last year.

Revenues, on the other hand, reached R$32.3 billion, marking a 15.3-percent improvement from the same comparable period, driven by an expressive growth in three key components: total net interest income, fee and commission income, as well as income from insurance.

“Revenue growth will be the primary reason for improving our profitability for the year. It will be a gradual and secure process, with control of credit risk,” the company said.

Banco Bradesco S.A. (NYSE:BBD) is a Brazil-based financial services company and is the third largest bank in terms of assets in Brazil and in Latin America.