Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 232

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 5
Chunk 232
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 net funding in a challenging market, which reaffirms our commitment to deliver consistent results and offer our clients adequate products to meet their needs.

147 – Form 20-F 2024 | Bradesco
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Ø   Insurance, pension plans and capitalization bonds
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 Other income from insurance, pension plans and capitalization bonds: The increase of 17.5% in income from insurance, pension plans and capitalization bonds is related to the increase of 14% in revenues, totaling R$121.1 billion in the year ended December 31, 2024 (R$106.6 billion in the year ended December 31, 2023), due to a higher revenue in the following products: (i) Life and pension plans (R$8,753 million or 17.8%); and (ii) health (R$4,635 million or 11.1%).
 

Ø   Main difference between balances by segment and consolidated balances
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 In 2023, we adopted IFRS Accounting Standards 17 as a replacement for IFRS Accounting Standards 4. IFRS Accounting Standards 17 apply to insurance and reinsurance contracts maintained as of January 1, 2023. We highlight that the information presented by segment is prepared in accordance with BR GAAP and therefore does not reflect the adoption of IFRS Accounting Standards 17, which applies only to our consolidated financial information prepared in accordance with IFRS Accounting Standards.
 In addition to the explanations above, we highlight below the main difference between our non-interest income by segment (based on BR GAAP) and our consolidated non-interest income (IFRS Accounting Standards ) for the year ended December 31, 2024:
 
·                        Non-interest income: The difference in our interest income prepared in accordance with BR                      
      GAAP compared to IFRS Accounting Standards (R$4,485 million in the year ended December 31, 2024 and R$6,377 million in the year   
    ended December 31, 2023) is mainly due to the difference in the calculation basis of the effective interest rates according to IFRS 
    Accounting Standards compared to BR GAAP. In addition to overall adjustments, originating from proportionally consolidated companies
                                              and the “non-consolidation” of exclusive funds.                                           
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5.A.20.01-03 Personnel expenses, other administrative expenses and other operating expenses
 The following tables show, on a consolidated