Banco Bradesco SA (ADR) (NYSE:BBD) shares decline by 5.77%

Posted by Nathan Alexander July 8, 2013 0 Comment 1684 views

In the Friday’s trading session, shares of Banco Bradesco SA (ADR) (NYSE:BBD) closed at $11.44 after falling down by 5.77%. The stock opened at $11.91 and reached a high of $11.96. Over 30.20 million shares were traded in the trading session of July 5 which is very high as compared with average volume of 9.91 million shares in last 90 trading sessions.

Banco Bradesco SA (ADR) (NYSE:BBD) was the Brazil’s biggest private bank until the merger of Unibanco and Banco Itaú took place in 2009. Bradesco SA (ADR) (NYSE:BBD) has its headquarters in Osasco.

Banco Bradesco SA (ADR) (NYSE:BBD) is a bank based in Brazil. Jointly with the auxiliaries, a wide variety of financial and banking products and services are offered by the Bank, which comprises of deposit taking, credit operations, corporate and individual banking services, credit and debit cards, mortgage loans, leasing operations, international banking, investment banking, securities brokerage, consortium services, portfolio management, several kinds of insurances, among others.

Banco Bradesco SA (ADR) (NYSE:BBD) runs actively in Brazil and overseas. The business of the bank is divided in six sections that include: Bradesco Companies, Bradesco Corporate, Bradesco Private Banking, Bradesco Retail, Bradesco Prime,and Bradesco Expresso. The operations of Banco Bradesco SA (ADR) (NYSE:BBD) is run by means of various auxiliary units, its subsidiaries, like Banco Alvorada SA, Banco Bradesco BBI SA, Banco Bankpar SA, Banco Bradescard SA, Bradesco Saude SA, and Bradesco Administradora de Consorcios Ltd., among others.

On June 25, Banco Bradesco SA (ADR) (NYSE:BBD) proclaimed it has made a decision for renewing a program of share repurchase for acquiring almost 15 million shares. Out of these the ordinary shares will be about 7.5 million and the preferred shares for the equal volume. The program would run till June 26, 2014 commencing from June 27 2013.

About Nathan Alexander

Nathan Alexander holds bachelor’s degrees in Journalism and European Studies from Boston University. Nathan reports round up the day’s business and financial market news and include keynote interviews with major business players and updates on Asian, European and US stock markets. He has interviewed heads of leading European banking institutions such as European Central Bank President Jean-Claude Trichet and HSBC Chairman Stephen Green, and CEOs from the business world including Microsoft founder Bill Gates, Virgin Chairman Sir Richard Branson and former Porsche President and CEO Dr Wendelin Wiedeking.

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