bbd20150325_6k.htm - Generated by SEC Publisher for SEC Filing
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 6-K
 
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
 
For the month of March, 2015
Commission File Number 1-15250
 
 
BANCO BRADESCO S.A. 
(Exact name of registrant as specified in its charter)
 
BANK BRADESCO
(Translation of Registrant's name into English)
 
Cidade de Deus, s/n, Vila Yara
06029-900 - Osasco - SP
Federative Republic of Brazil
(Address of principal executive office)
 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.  Form 20-F ___X___ Form 40-F _______

 Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.  

Yes _______ No ___X____

 .

 
 

 

Notice to the Market

 

Disclosure of results for the years 2014 and 2013, in accordance to International Financial Reporting Standards (IFRS)

 

Banco Bradesco S.A. announces to its shareholders, clients, collaborators and to the market in general that it prepared complete consolidated financial statements for the years ended December 31, 2014 and 2013, according to the International Financial Reporting Standards - IFRS, in conformity with the pronouncements issued by the International Accounting Standards Board - IASB, pursuant to Resolution 3,786/09 of the Brazilian Monetary Council (CMN) and CVM Rule 457/07.

 

See below, the main changes seen in our consolidated financial statements due to the adoption of IFRS:

 

Comparison between BR GAAP and IFRS - in Reais millions

Balance sheet  12/31/2014    12/31/2013
BR GAAP (1)  Adjustments (2)  IFRS    BR GAAP (1)  Adjustments (2)  IFRS 
Assets               
Cash and balances with banks  65,571  (141)  65,430    67,577  (127)  67,450 
Financial assets held for trading  176,055  (97,557)  78,498    154,232  (58,139)  96,093 
Financial assets available for sale  79,540  41,422  120,962    60,423  7,415  67,838 
Investments held to maturity  25,071  -  25,071    23,071  (2)  23,069 
Assets pledged as collateral  253,568  (100,955)  152,613    189,143  (71,403)  117,740 
Loans and advances to banks  17,533  55,442  72,975    26,907  51,813  78,720 
Loans and advances to customers (3)  319,297  8,767  328,064    294,906  9,215  304,121 
Non-current assets held for sale  1,007  (1)  1,006    832  1  833 
Investments in associated companies and joint ventures  1,519  2,465  3,984    1,372  2,021  3,393 
Property and equipament  4,887  (186)  4,701    4,667  (165)  4,502 
Intangible assets and goodwill  8,471  (941)  7,530    9,146  (925)  8,221 
Taxes to be offset  6,655  (525)  6,130    5,755  (462)  5,293 
Deferred income taxes  32,348  (3,960)  28,388    29,404  (3,743)  25,661 
Other assets  40,518  (5,419)  35,099    40,704  (5,336)  35,368 
Total assets  1,032,040  (101,589)  930,451    908,139  (69,837)  838,302 
 
Liabilities               
Deposits from banks  380,777  (100,837)  279,940    314,323  (71,223)  243,100 
Deposits from customers  210,027  5  210,032    216,114  104  216,218 
Financial liabilities held for trading  3,282  34  3,316    1,808  18  1,826 
Funds from securities issued  84,825  205  85,030    57,654  229  57,883 
Subordinated debt  35,822  -  35,822    35,885  -  35,885 
Insurance technical provisions and pension plans  146,559  -  146,559    130,329  -  130,329 
Other provisions  14,673  (809)  13,864    14,427  (674)  13,753 
Current income tax liabilities  4,291  (689)  3,602    3,686  (603)  3,083 
Deferred income tax liabilities  3,292  (2,484)  808    3,188  (2,388)  800 
Other liabilities  66,591  2,595  69,186    59,180  4,142  63,322 
Shareholders´ equity of controlling  81,508  660  82,168    70,940  944  71,884 
Non-controlling interest  393  (269)  124    605  (386)  219 
Total liabilities and shareholders´equity  1,032,040  (101,589)  930,451    908,139  (69,837)  838,302 

 

1)  Information presented herein consider amounts calculated pursuant to the accounting practices adopted in Brazil (BR GAAP), which are applicable to financial institutions and  classified according to the presentation model determined by IFRS´s;

2)  Adjustments from the consolidation process, reclassification between accounts and other effects from the adoption of IFRS´s; and

3)  The loan and advances to customers’ portfolio is presented net of provision for impairment losses.

 

 

 
 

 

 

 

See below, reconciliation of Shareholders’ Equity and Net Income for the 2014 and 2013 years:

Reconciliation of Shareholders´Equity and Net Income - in R$ millions

Adjustments Shareholders´
Equity 		 Net Income     Shareholders´
Equity 		 Net Income 
12/31/2014  2014    12/31/2013  2013 
BR GAAP  81,508  15,089    70,940  12,011 
1) Adjustment to the recoverable value of loans and advances  1,672  122    1,550  138 
2) Business combinations  325  135    646  112 
3) Hedge accounting adjustments  -  157    -  284 
Others  14  24    31  143 
Deferred income tax and social contribution of IFRS adjustments  (1,351)  (212)    (1,283)  (292) 
IFRS - Attributable to the controlling shareholder (1)  82,168  15,315    71,884  12,396 
Non-controlling shareholder  124  101    219  90 
IFRS - Attributable to the controlling and non-controlling shareholder (1)  82,292  15,416    72,103  12,486 
(1) The net income basis for the calculation of dividends and interest on capital paid to shareholders, is originally from BR GAAP, w hich w as released on January 29, 2015.

 

Below is a description of the main changes from the adoption of IFRS:

1)     Adjustment to the recoverable value of loans and advances

 

Impairment of loans and advances were established based on the history of losses and other information about the clients of the organization at the balance sheet date and clear evidences that show losses had occurred after the initial recognition of the financial asset.

 

2)     Business combinations

 

Under IFRS, the identifiable assets and liabilities in business combinations and assets delivered as payment combinations were recognized at their fair value. Shares issued in the acquisition were recognized at their fair value on the date the control is transferred.

 

3)     Hedge accounting adjustments

 

These financial instruments were not designated as hedge instruments for IFRS purposes, and thus they were not treated as hedges for accounting purposes under IAS 39. Therefore, the amount recorded in equity under BR GAAP was reversed against retained earnings at the transition date.

 

 

 

Cidade de Deus, Osasco, S.P, March 31, 2015

 

Banco Bradesco S.A.

 

Luiz Carlos Angelotti

Managing Director and
Investor Relations Officer

 

 

Should you have any questions or require further information, please contact Mr. Carlos Wagner Firetti, phone 55 11 2178-6201, e-mail 4823.firetti@bradesco.com.br; Mrs. Ivani Benazzi de Andrade, phone 55 11 2178-6218, e-mail: 4823.ivani@bradesco.com.br or Mr. Carlos Tsuyoshi Yamashita, phone 55 11 2178-6204, e-mail: 4823.carlos@bradesco.com.br.

 

 
 
SIGNATURES
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: March 31, 2015
 
BANCO BRADESCO S.A.
By:
  
/S/ Luiz Carlos Angelotti
    Luiz Carlos Angelotti 
Executive Managing Officer and
Investor Relations Officer
 
 
FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.