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Daniel Vance

Director and Equity Research Analyst at Bradesco BBI

Daniel Vance is a Director and Equity Research Analyst at Bradesco BBI, specializing in coverage of the Latin American financial sector with a primary focus on major banks and fintech companies. Throughout his career, he has provided investment analysis and recommendations on top Brazilian financial institutions such as Itaú Unibanco, Banco Bradesco, and BTG Pactual, and is recognized for his insights into the digital banking landscape. Vance joined Bradesco BBI in 2017 after beginning his finance career at other prominent firms, and he is well-regarded for consistently accurate market calls, with coverage that frequently ranks highly among Latin American banking analysts for forecast accuracy and returns generated for clients. He holds relevant securities and analyst credentials, including ANBIMA certifications and FINRA registration where applicable.

Daniel Vance's questions to Banco Santander (Brasil) (BSBR) leadership

Question · Q2 2025

Daniel Vance of Bradesco BBI asked about the bank's level of concern regarding the rise in delinquency in the Small and Medium-sized Enterprises (SME) segment amid a cautious macroeconomic landscape.

Answer

CEO Mario Roberto Opice Leão affirmed that while the macro environment is challenging, the bank remains committed to the SME segment, viewing it as a major growth opportunity. He stated that the SME portfolio is highly profitable, often exceeding 20% ROE, due to strong transactionality and deposits. The bank will continue to pursue growth in this area, albeit with a cautious and disciplined approach to capital allocation.

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