Bradesco: Cielo is indispensable for the bank, even without giving as much money as in the past, says president

 Bradesco: Cielo is indispensable for the bank, even without giving the maximum amount money as within the past, says president

According to Octavio de Lazari Jr, the corporate is now beginning to recover, that specialize in retail

Bradesco's chief executive, Octavio de Lazari Jr, stated that Cielo - jointly controlled with Banco do Brasil - is indispensable for the group. consistent with him, albeit Bradesco doesn't earn the maximum amount money with Cielo's equity accounting because it has earned within the past, it's impossible to be without an acquiring operation.

“Cielo is that the market leader, but spent a while sitting on accounts of huge companies. Then he made the selection to urge out of it and specialise in retail, and now he's beginning to recover, ”he commented. "Acquiring is a component of our core business, it's essential to possess a good range of products and services".

He stressed that Cielo remains the market leader, but acknowledged that new entrants moved faster to adapt to new realities. “This is that the turnaround we do at Cielo, which has got to be more agile. the very fact that we don't have [direct] control doesn't mean that we cannot have the simplest quality products and services. Cielo has been serving us well ”.

Asked during a call with analysts about the extent of payout [ percentage of net distributed within the sort of dividends or interest on equity] this year, Carlos Firetti, director of market relations, recalled that last year there was a limitation of pay a maximum of 30% of the profit.

“Considering the expected growth of the portfolio, the extent of profitability inherent the guidance (expectations), we'll still generate capital, and it's quite possible that the payout will increase . It doesn't have a definitive direction, but it's the trail that has got to be followed, obviously watching the evolution of the pandemic ”, he explained.

Asked if the payout might be almost like 2019, when it reached almost 50% of the profit, Lazari stated that, if there are not any surprises, Bradesco will continue doing what it did in recent years (before the pandemic), “paying the dividend that always paid ”.

He also recalled that the bank's capital position is at a easier level and can still grow in 2021.

(This report was originally published in Valor PRO, a real-time news and knowledge service from Valor Econômico)

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