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☆ Amazon set to launch credit card in Brazil with Bradesco
  + stars: | 2023-08-04 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Christian HartmannSAO PAULO, Aug 4 (Reuters) - Amazon.com (AMZN.O) will launch a credit card offering in Brazil, in a partnership with Brazilian lender Banco Bradesco SA (BBDC4.SA), the bank's chief executive said on Friday, as the ecommerce giant pushes to expand its fintech offering. The launch is set for next Tuesday, according to CEO Octavio de Lazari Junior, adding that the bank will manage the card's credit risk, and the card will be powered by Mastercard (MA.N). Amazon's Brazil Country Manager, Daniel Mazini, said in a note that the company is always "looking for opportunities" to improve the shopping experience of customers in Brazil. The credit card offers comes at a time the country sees its interest rate starting a downward cycle and government programs to boost consumption. Amazon also has a credit card offering in the U.S., where it partners with JPMorgan Chase.
Persons: Christian Hartmann, Octavio de Lazari, Daniel Mazini, Alberto Alerigi Jr, Isabel Woodford, Carolina Pulice, Sandra Maler Organizations: REUTERS, Christian, Christian Hartmann SAO PAULO, Banco Bradesco SA, Mastercard, Brazil, JPMorgan Chase, Thomson Locations: Boves, Amiens, France, Brazil, U.S
☆ Bradesco shares hit 2-year low after disappointing quarterly earnings
  + stars: | 2023-02-10 | by ( Aluisio Alves Andre Romani | Aluisio Alves | Andre Romani | ) www.reuters.com   time to read: +1 min
SAO PAULO, Feb 10 (Reuters) - Shares in Brazil's Banco Bradesco SA (BBDC4.SA) fell to their lowest level in almost two years on Friday after the bank reported fourth-quarter net income equivalent to less than half that of analysts' estimates. Bradesco reported a 75% drop in net income and sharply increased its provisions for loan losses to around $3 billion. The bank's preferred shares were down 6.6% in early trading in Sao Paulo to 12.89 reais, paring losses that reached 8.7% after the open. Bradesco set aside 4.9 billion reais in provisions in the fourth quarter to cover its loans to retailer Americanas SA (AMER3.SA), which has asked for bankruptcy protection. Reporting by Aluisio Alves, writing by Tatiana Bautzer; editing by Jason Neely and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.
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