Company: BBD
Filing Date: 2025-05-30
Form Type: 6-K
Source: 0001292814-25-002283
Chunk: 146

Company: BANK BRADESCO
Filing Date: 2025-05-30
Form: 6-K
Chunk 146
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 to 14.25% and, on May 7, 2025, it was set at 14.75% where it remains until the date of this annual
report.

| 119 – Reference Form – 2024 |

| 4. Risk factors |

We have
no control over the basic interest rates established by the Monetary Policy Committee (COPOM) of the Central Bank of Brazil or the frequency
with which they are adjusted. Increases in the SELIC basic interest rate, can have an adverse effect on us, reducing the demand for our
credit and increasing our fundraising costs, financial expenses related to the existing debt, and the risk of client default. Reductions
in SELIC rate can also have an adverse effect on us, reducing the interest revenue we earn on our interest-bearing assets and thus reducing
our revenues and margins.

The persistently high inflation can affect our revenues and our ability to access foreign financial markets.

Brazil
has, in the past, experienced extremely high rates of inflation. Inflation and governmental measures to combat inflation have had significant
negative effects on the Brazilian economy and have contributed to increased economic uncertainty and increased volatility in the Brazilian
securities markets, which may have an adverse effect on us.

The current economic policy in Brazil is based on a monetary regime in which the Central Bank of Brazil ensures that the actual inflation is in line with a pre-established target, publicly announced.However, inflation rates were above the upper limit in 2024, reaching
4.83%, compared to the guidance of 3.00% and a tolerance range of about 1.50%. Inflation rates were also above the guidance limit in 2023
and 2022, reaching 4.62% in 2023, compared to the guidance of 3.25% and 5.79% in 2022 compared to the guidance of 3.50%, as measured by
the Extended National Consumer Price Index (IPCA).

Inflation
and government measures to combat it, and if adopted again, may continue to have significant negative effects on the Brazilian economy,
including greater volatility in the Brazilian securities market. In addition, measures to control inflation often lead to the maintenance
of a restrictive monetary policy, with higher interest rates, restricting credit availability and limiting economic growth. On the other
hand, the lack of a credible and responsible monetary policy can trigger increases in the rate of inflation and thus negatively affect
the economic stability. In the event of an increase in inflation,