Company: BBD
Filing Date: 2025-05-30
Form Type: 6-K
Source: 0001292814-25-002283
Chunk: 150

Company: BANK BRADESCO
Filing Date: 2025-05-30
Form: 6-K
Chunk 150
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 may
be the subject of the reform of income taxation, which will still be presented by the Government.

Changes
in tax-related laws and regulations, and interpretations can affect tax charges by raising tax and tax rates, creating taxes, limiting
tax deductions, and eliminating tax-based incentives and untaxed income. In addition, tax authorities or courts can interpret tax regulations
differently to our interpretation, which could result in tax disputes, associated costs and penalties.

| 122 – Reference Form – 2024 |

| 4. Risk factors |

The Brazilian Constitution used to establish a ceiling on loan interest rates and if the government enacts new legislation with a similar effect in the future, our results of operations may be adversely affected.

Article
192 of the Brazilian Constitution, promulgated in 1988, established a ceiling of 12.0% p.a. on interest rates on bank loans (remuneratory).
However, this rate was never implemented, because it depended on a regulation by the National Monetary Council (CMN), which was not edited.

On May
29, 2003, Constitutional Amendment No. 40 (EC 40/03) was promulgated and revoked all sub-items and paragraphs of Article 192 of the Brazilian
Constitution, in particular paragraph 3 of article 192, which specifically addressed this topic. The understanding that this ceiling was
not yet in force was confirmed even by Binding Summary No. 7, a final binding decision promulgated in 2008 by the STF, according to the
prior understanding of the court on this matter. Since 1988, several attempts have been made to regulate loan interest, mainly those related
to banks, but no alternative has been implemented by the Congress and/or confirmed by Brazilian higher courts.

The
majority of our revenues, expenses, assets, and liabilities are directly linked to interest rates. Therefore, the imposition of a limitation
or cap on loan interest rates can significantly and adversely affect our operating income and financial condition, our loan portfolios,
our cost of funding, and our loan-related revenue, but there are no indications that the bills in process can be effectively approved
by the Congress, and they lack technical grounds.

As for
civil obligations, monetary corrections and interest in obligations, on March 1, 2023, the Superior Court of Justice (STJ), Brazil’s
highest court for matters related to federal law, began to judge a case discussing the possibility of applying the SELIC rate to adjust
deb