Good morning, ladies and gentlemen. Thank you for waiting. We would like to welcome everyone to Bradesco's conference call about the impacts adopted measures related to the COVID-19. This call is broadcast through the internet, and the link is at www.bradesco.com.br/ir, where you can find the presentation for download. We would like to inform you that there is simultaneous translation into English. Questions may be sent in writing to the webcast. Before proceeding, we would like to mention that topics related to the first quarter earnings will be discussed on April 30th conference call, and that forward-looking statements are based on the beliefs and assumptions of Bradesco and Bradesco's management and information currently available to the company. They involve risks, uncertainties, and assumptions as they relate to future events, and therefore they depend on circumstances that may or may not occur in the future.
Investors should understand that general economic conditions, industry conditions, and other operating factors may affect the future results of Bradesco and may cause results to differ materially from those expressed in such forward-looking statements. Now we would like to turn the floor over to Ms. Leandro, IR.
Ladies and gentlemen, good morning. On behalf of Bradesco, we would like to welcome you all to our call. During this, we will share the measures adopted to help overcome the crisis brought about by the COVID-19 pandemic and the effect on the economy and the world as a whole, by means of measures aiming at preserving the health of our people, in service to our clients, protection of our shareholders' value, and support to society.
I would like to mention that we are seeing an unprecedented situation, and new information come to us at every single moment. This could lead to different positioning on the part of our organization. What we have today, and that will be presented to you today, is based on the best information we have at our disposal right now. At the end of the presentation, there will be a Q&A session.
Questions should be sent in writing at the webcast platform. During today's conference, we have the presence of Mr. Octavio de Lazari, CEO of Banco Bradesco, Andre Koerich, Vice President Technology, Human Resources, Finance, Risk, and Operations, Marcelo Noronha, Executive VP of Wholesale, Marcelo Cortelli, Executive VP High Income and Wealth, Eurico Fabri , Executive VP Retail and Credit, Vinicius Albernaz, Bradesco Seguros CEO and myself, Fernando Honorato , Director and Chief Economist, and Carlos Firetti, Market Solutions Director.
Now I would like to give the floor to our CEO, Mr. Octavio de Lazari.
Thank you very much, Leandro. Good morning, my friends, and I hope everybody is okay, and I hope you have all had a very good Easter. Thank you very much for accepting our invitation for this call. During this, we will be sharing the measures we have adopted to help overcome the crisis brought about by the COVID-19 pandemic. We will have a question-and-answer session. Needless to say, the moment we are living today is unique, as well as the magnitude of this crisis that is evolving. The crisis, as we said before, was not generated by the banks, but certainly the banks are an important part of the solution, and you may rest assured that we are doing our share.
To begin with, we have a strong, sound, and liquid banking system, which is totally necessary in any economy. Our people have been working tirelessly to keep the bank up and running and serving our clients through our branches and digital channels as well. We have made our best endeavors, and very quickly we were able to give our clients access both to project extensions and new payroll loans. When the magnitude of the crisis became evident, we focused our endeavors on a few basic objectives. First, we put measures in place to take good care of our workforce, ensuring their well-being and giving them all the necessary conditions to work in safety, besides looking after everyone's health. We made our best endeavor to continue delivering services to society, and we can say that our objectives have been reached. Above all, our objective is to help overcome the crisis.
As I said, we know that we are part of the solution. Nevertheless, we must mention that the bank being capitalized and liquid is fundamental so that we may really contribute to boost the country's recovery. Going to page number three, when the crisis first hit, our immediate and foremost concern was with the safety of our people here at Bradesco. We have 81 confirmed cases of coronavirus, and thank God, most of them are very well. We only have four cases that are in a situation that requires ICU, and the other cases of people are at home, and they are recovering from the coronavirus. The first thing that we had was to immediately guarantee the job for the at-risk people, and we have the pregnant women and the trainees and apprentices.
We were doing preliminary work at the bank, but the crisis required us to be very quick. Just to give you an idea, we have 90% of our office people, exceptionally to the branches, 90% of the people. The strategy at the branch, we have half of the branches working for one week, then on Friday, we have a very in-depth cleaning of the branches, and on Monday, the other team comes to work. Those who were working this week are going to work on a remote basis, so that all our branches in Brazil may be open and serving our clients. We have the commitment of not laying off anybody, and we have already paid 50% of the 13th salary.
We made available a very important service here at the bank, an open line, which is part of the BVA program, by means of which we have over 70 doctors that guide our employees and their families in case of a suspicion of COVID-19. On page number four, we show you very quickly the measures implemented to serve our clients, and together with BACEN and the Central Bank, to the first signs of the crisis, we sought measures to help our clients cope with the scenario. We understood the unique features of this moment, and we adopted some measures accordingly. The first one was the rollover of the short-term maturity debts. First, we granted a 60-day extension. In April, May, and afterwards, for clients who need it, we will probably have to grant further extensions.
Just to give an idea of figures, in these seven first days of extension, maybe 10 days, we have had 1,100,000 requests by clients to extend their call debts. The measure has a very broad reach and encompasses both individuals and legal entities. For SMEs with annual revenue between BRL 350,000 and BRL 10 million, we created a new credit facility backed by the government at very attractive rates and conditions. The need to intervene, 36 months maturity and six months grace period. It's a new money so that companies may pay their payroll expenses. The government will take 85% of the risk and the bank 15%. Credit will be assigned based on our models for clients who have their payroll with us, the ones that are already pre-approved with this program jointly with the government. We have an additional 10% have already resorted to this line.
We have already pre-approved over 125,000 companies for this credit. They are already available and involving 1,700,000 people who are the employees of these companies. In the large corporation segment, we see clients mostly in good financial conditions. The characteristic of Brazilian companies. On the first date of the crisis, 10 days ago, there was a huge increase in the demand for working capital as companies sought some kind of insurance for working capital. On some days, we had huge requests for liquidity by these companies. Just to give you an idea of the average ticket, or adding all the tickets that we receive daily at the corporate desk, we had BRL 1.5 billion, BRL 2 billion per day before, and this number reached BRL 20 billion compared to what we had before the crisis.
This became diluted over time so that we could not only cater to very large corporations but also SMEs and individuals as well. We have already overcome this problem. Going back to R$2 billion per day on average. One important point. A lot was said about liquidity on the part of the banks. The central bank from March seventh to today released the reserve requirement of R$26.4 billion during this same period. They could contract R$32 billion and 800,000 in new credit operations. We do not have this situation regarding liquidity. We have even more liberation of reserve requirement by the central bank. The situation is totally back to normal.
We only had three days of this huge demand for credit. Now it has already stabilized, and we will continue to serve individuals, SMEs, large corporations, such as we have always done during the history of the bank. Besides other measures for investors in all segments were implemented, conference calls and daily live broadcasts advising them on their investments and also discussing the recently announced regulations and measures. Now going to slide number five. We adapted the bank's governance and policy to the situation we are living in. 30 days ago, we established a crisis committee for the bank with all the VPs and COs to analyze the whole picture of coronavirus in terms of human resources, technology, contact centers, wholesale, retail, high income, all the aspects that evolve the moment that we're living today.
Daily meetings with our board of directors that have been supporting us every single day, receiving information and supporting us on these decisions that we must make on a timely basis in order to continue to serve our clients. All our committees are functioning as usual by video conference and changing the habits of our meetings, of course. The branches are open to help, especially those who need our help the most. The digital channels allow our clients to have practically all their banking services needs met. We believe that the current situation will lead to an increased use of these digital channels. Now going to slide number six. We see some examples of actions put in place in the last few weeks for the benefit of society together with other banks.
We have donated 5 million rapid tests, 15 million masks, 30 CT scanners, besides other equipment in partnership with other private banks. At Bradesco Health Center, we support domestic production of ventilators and other items that we will be donating to the Ministry of Health and donation by Bradesco jointly with other companies to build a field hospital in Rio with 200 beds, 100 of these beds ICU. Monitors to be distributed to the public network, health network, so that we may give support to these hospitals that will see a higher demand in the next few days and months. Going to slide number seven. Let's talk about the Bradesco Seguros. We have fully adapted our activities to this new environment. 90% of our group, most of our employees are working from home, management, commercial and service teams, both our own and outsourced.
We are giving special attention to supporting the 3.6 million beneficiaries of Bradesco Saúde through a phone that is dedicated to COVID information, the hotline with question-and-answers, the Meu Bradesco Nova Rede network. We established an exclusive program for COVID-19 suspected cases. We have extended the working hours to every day of the week and no need for scheduled appointments. We believe that we are truly giving our clients a differentiated service. Slide number eight. Our digital channels play a fundamental role in our client service. We see a growing number of clients using digital channels for their banking activities. Also a significant increase in the number of transactions through our app. We focus on communication, explaining to our clients how to use it, and we quickly gave an answer to the joint measures put in place by the government, Central Bank, and the banks.
We have been quite agile as well. The functionality for the extension of contracts was made available on March 30th through internet banking, on April 2nd on mobile. The new payroll financing was already available to clients on Net Empresa on April 6th, totally pre-approved and digital. In a few days, the clients Well, April sixth was the first business day after the official regulation was published. Now, page number nine. As I said before, our digital channels play a vital role for our clients. 96% of transactions are currently carried out by means of self-service and besides working at the branches, our business managers have corporate mobile phones with access to most of the tools that they would have on their desk, and they offer consultancy via conference call or video conference.
Our clients' finances are being tracked, and those facing cash flow difficulties are being supported either with credit or debt extension. Our branches, as I said before, are functioning 100% in allowed locations when not in shopping malls that are closed to the public. We have special opening hours from 10:00 A.M. to 2:00 P.M. and from 9:00 to 10:00 A.M., we have the slot for at-risk groups only. We are operating reduced teams at the branches and with weekly rotation so as to preserve the health of our people. Since the beginning of the quarantine, we have been organizing lines outside the branches with mandatory distancing between clients and priority services according to different decrees enforced in each location. We allow a limited number of clients inside the branches with safe distance between them and all branches. Slide number 10, regarding our credit policies.
Right now, our focus is to give support to our clients. We have mapped exposures to more federal industries and companies, and we have a permanent line of communication with them by means of our relationship teams. Our credit recovery teams are 100% active, seeking solutions for clients in need. We have included new variables in our credit model so as to have a more precise assessment of the situation of each client. In the interest rates, differently from what was published by some communication vehicles, importantly, the interest rates have not undergone changes, and on Friday, we said to BACEN, to the Central Bank too, that interest rates are being maintained in whatever portfolios they are being kept exactly the same, and in the last three weeks, the rates. The maintenance of the rates and in some cases, even a decrease in these interest rates.
There is no attitude whatsoever on the part of the bank or any intention to increase interest rates charged from our clients. They are being maintained at the levels that we had before everything that is happening right now. Slide number 11, an extremely important point in crisis management. Our governance and risk management policies, our capacity to help clients is related to the maintenance of our health as a bank. We got into this scenario with a strong capital base and adequate liquidity margin to meet our clients' needs. Besides, the Central Bank has been communicating with banks on an ongoing basis, promoting measures that drive an even higher liquidity and solvency to the system. We are consistently monitoring the risk appetite and operating caps, reviewing them whenever needed.
In order to conclude, I would like to emphasize that we are fully aware of the magnitude of this scenario's challenges, and it is our responsibility to help solve the problem together with the society at large. As I said before, we see the economy falling something about 4% in 2020. There could be a strong recovery with coordinated efforts between society and government, banks and companies, so that we may leave the situation behind as quickly as possible.
We want to have a quick recovery of the economy with preservation of companies as well as the highest possible number of jobs. We are available to answer any questions that you might have. Please send your questions in writing to the webcast platform. Thank you very much for your attention. We will start the Q&A session. Questions may be sent in writing by means of our webcast platform in our investor relations website.
Good morning. This is Irene. I will coordinate the Q&A session. Please send your questions in writing through the webcast platform. I have two questions here from the room. How many requests for debt renegotiation have you received so far? Are you going to increase the grace period that you are granting? Are you going to increase your donations to fight the coronavirus situation?
Good evening. This is Octavio. Thank you for the question. Regarding the extension or the renegotiation, the extension of the installment, we have received 1,200,000 requests. The contract has not been changed in terms of the values, in terms of the rates.
This is then for clients that find themselves in more dire straits and the extension because of the COVID-19 situation, we might have to extend them further. We are already discussing them at the bank, and as April and May have already been solved as of the end of April. If the problem continues, and we believe it will continue based on everything that we hear about it, we believe that not only Bradesco, but all the other banks as well, will take the necessary measures to give an additional 90 days to these clients so that they may reorganize their financial life and go back to paying their installments on a timely basis as soon as the situation resolves.
Regarding the donations, the bank has already been doing this to the donations to the Ministry of Health, and we will continue to make our donations according to our priorities, whatever is more a bigger emergency, the purchase of equipment and the tests and respirators, ventilators, monitors. Because sometimes it's useless for you to put money. You have really to give them the equipment in order to meet each hospital's needs. I would like to congratulate Itaú for what they announced today in terms of donation. We are very proud to have other members of the banking community helping and doing an important job and more than that, a structuring job for Brazilian society.
This is something that Fundação Bradesco, the Bradesco Foundation, has been doing since 1956 with thousands of schools scattered throughout Brazil, investing BRL 7 billion in the last two years only to Bradesco Foundation for needy children. We are investing BRL 682 million in Fundação Bradesco to look after these children. All these companies that are working and helping the sector, all of that is extremely valuable, and I think it deserves our praise, but I believe this should happen on an ongoing basis. This should perpetuate itself so that we may really overcome these fragilities of society. It's a great initiative, and we would like to congratulate every company, every bank that is doing this.
We have two additional questions here from Marcos Sayegh, from Itaú BBA. What is the worst moment of delinquency, and could this be reached and exceeded? What is the percentage of contracts that are being renegotiated for 60 days? Is there room for a further extension of these renegotiations?
Marcus, good morning. Certainly, if you see the extension of the COVID, this is going to be even worse than the previous crises, and our models are being worked on so that we may put an even bigger forecast in the COVID scenario. We might have the worst delinquency. We hope it does not materialize. However, we have to consider the worst-case scenario in our forecasts. About your second question, they represent about 15% of the installments that we will receive in April and May. What was done so far represents about 15%.
As I said before, I believe that all the banks will be willing and will be obliged, in fact, it will be the obligation on the part of banks to extend to May and June and give an additional 60 days so that people may have more breathing space, so that after we overcome this moment, they may go back to paying their obligations. With Elliot from Autonomous. Along the line of credit renegotiations, for us to give the proportion of clients in each one of the segments and that are applying for this rollover, basically, the 60-day extension, we are talking about individuals and SMEs and micro companies as well. The micro and small companies are resorting to this more than the others. In the large corporations, the situation is different. We have been supporting them, but it is the bank's risk.
The mega companies, the mega corporations, they are more capitalized. The condition is different in terms of borrowing from the banks. From now on, I believe that what will be done is we have to find specific solutions for each one of the sectors. The airline sector, for instance, we have to find a more specific solution. A solution which is tailor-made for each one of the sectors. For instance, the auto sector, we have to find a specific solution for the auto production and the supply chain as well. We are going to have a meeting with the Central Bank, and we are going to tackle these subjects more specifically. From now on, we will have specific treatment given to specific sectors. We will have to have more specific solutions for each one of these segments.
Michael from Bloomberg. What is the level of capital we intend to work with from now on? Have you been acquiring assets from institutional investors? There are other questions here. What about the dividend payout policy considering the regulation of the Central Bank?
I would like to give the floor now to our treasury VP.
Regarding assets of institutional investors, we see some moves on the part of clients trying to do this in the secondary market, and Bradesco is working there, and we have been making some isolated acquisitions. Nothing different from business as usual, but we have a slightly higher than the average, but nothing that may mean a problem regarding the funds and the fund health. We are adopting reserve requirements on these operations.
The dynamics are still healthy and with funds coming from reserve requirements, but nothing that draws our attention in terms of volume on the part of asset managers as a whole. Could you talk about capital and dividends? We intend to continue working with the same levels of capital that we have so far. Nothing different. These are possible levels, and that should be maintained. Regarding dividends, the Central Bank established our bylaws say that we must pay dividends of 30% on the net income, and this will be maintained.
Denise from O Estado. I would like to know if you confirm the information that you are acquiring the HSBC Bank.
This is Octavio. Thank you. Well, we have known the Bradesco for a long time, and you know very well that we are always looking for good opportunities in the market.
Last year we acquired a bank in the United States because this was very important for our strategy of growth and high income. There is no other bank or fintech that is in our radar screen right now with the tough situations that we see and the impacts of the crisis that will come. There's nothing on the table that we are studying. Some fintechs could be less capitalized because of the difficult situation, but we don't see anything right now. We are not studying any acquisition. We will continue to look for good opportunities, but not right now.
Mark Friedman. Although the bank does not work with expected losses, we have always been conservative. After the tax credit in the fourth quarter, we read BRL 245. Could we expect an increase in the coverage of the first quarter? Good morning.
In fact, Bradesco has always been very careful regarding our provisions and our coverages. Certainly, we are within a picture now that we don't really know what will happen in the future. We are studying our balance sheet right now, and then undoubtedly, if possible, we will be making additional provisions because these scenarios were not designed either for Bradesco or for any other organization. This was not expected. Due to the fact that we have always been very conservative and very concerned with the capacity of the bank and the capital structure of the bank. We are going to dive in depth in our balance sheet now, and if the opportunity arises, we will be building additional provisions in order to tackle the expected losses scenario that we have ahead of us, depending on the levels of delinquency in the third and the fourth quarter.
Thiago Batista from UBS. In relation to Bradesco Seguros. Could you talk about Bradesco Seguros' cancellation of selected procedures, and does it offset? A question about delinquency. What kind of delinquency do you expect there, and could we reach a peak of delinquency? Could we reach 6%, or is this a level that you do not expect? Do you know where your allowance for doubtful debt, your ADD, will be for 2020? What about the level of negotiations, renegotiations you expect?
Thank you, Thiago, for the questions. I will give the floor to Vinicius to answer about Bradesco Seguros, and then I will give the floor to our Vice President of Retail.
Thiago. Everybody. What we see right now is a significant drop in selected procedures related to health and auto insurance drop.
Regarding health, we expect a gradual substitution of this drop because of the increasing emergency procedures and hospitalizations. I think it's a little bit too soon for us to have a clear picture of this movement, so to say. We have been very much engaged with our service providers, and we have been refining our models in order to understand the progression of this vis-à-vis COVID-19 and the time for treatment. It's a little bit too soon for us to see a clear picture. I think it's worth mentioning that in spite of the drop in elective surgeries, a major part of them will be rescheduled, and very probably we will have this inventory, so to say, or this backlog that will come back.
I don't think it's valid to say replacement substitution, because in the future, there will be a rescheduling of this backlog, and we have been tracking this so as to have a more clear picture. Regarding the impact in 2021, based on the extension of installments that the market is doing in Bradesco, we believe that some impact could exist for provisions in 2021. Of course, this depends on the extension and the depth of the crisis and the duration of the crisis, so as to have any predictability vis-à-vis the next year. Right now, we are focused on understanding the current impact, the impact for this year, but we expect something to happen in 2021 as well.
Just to add, Thiago. If we look at health today. Of course, the procedure that should happen were canceled. There weren't as they're not emergency. We consider these cancellations that are not really cancellations, but they are in fact postponements. We know that this is a one-off situation. In the snapshot, this will happen in the second half of the year or the first half of next year. This is something that is happening right now. We have already seen this in other situations, not as serious as this one, but we know that this is going to happen, and it has to be considered in our provisions. Thank you.
Angela Nou with NV Magazine. Risk analysis and the pandemic, what about the impact? How are you expecting and dealing with that?
Your question is very good. It started a mission addressed by our Chief Economist, so that we could assess which are the segments that will suffer the biggest impact of the coronavirus.
How long these sectors take to get to recovery and trying to imagine how long the tail of coronavirus will be. Will be in May, in June? New variables, new indicators were included in our credit models developed by our Department of Economics and based on what we are hearing from other sources and based on the experience that we had in the past as well with things that happened. The credit analysis is more vigorous, I would say. Money, people will be brought to borrow or try to borrow beyond the limits or the caps that they already established. Because people have to guarantee a higher liquidity so that they may pay their payroll and their suppliers in order to resume a normal life after the crisis.
It is very important for contracts to be complied with, and everybody has to pay their obligations because if somebody does not pay, somebody will not be paid, and we create a chaos in the economy as a whole should this happen. With the methods of credit analysis, we are considering all these variables that were smaller in the past, and now they are becoming more important in terms of credit assignment.
Yahida from Folha Capital. I would like to know if payroll that already has 20% requests, it should reach 100%? Could you answer, please?
In our network, Oswald has already given a trigger for payroll contracts, which is important to emphasize 125,000 clients that we have pre-approved to have a payroll product. This brings a major opportunity. Many clients were pre-approved, but they didn't have the product yet.
We placed our network in order to prospect these clients so that the product may be put on file so that we may make bigger strides in this direction because it's important for the economy and for the people that will have their salaries guaranteed. We are working very hard in order to use these pre-approved bases and extend the program. Whether it's going to reach the Well, it could be more expensive, and I believe that the government might want to extend this and use this still for a few months, and this could lead to a full use of the line by the clients. Just adding, this is important line for the companies as there is no spread. What we see is that Brazilian entrepreneurs, as I said at the beginning, they try to cover their needs without borrowing.
These are 20% of the lines already drawn on, and as we have made this available on mobile phones, et cetera, we have already told the clients that the line is available, but a major part of clients will only resort to this line in May, and some other clients might even not use the line because they have some kind of reserve in order to cope with this moment of bigger difficulties. Regarding the large corporations, the companies wanted to preserve their own cash. Right, Marcelo?
Good morning, and thank you, Octavio. Exactly, Octavio, and I think you referred to that during your presentation. Some large corporations have more liquidity, and this is a prophylactic measure on their part. On the other hand, in commerce, well, they really need to extend their debts so that they may pay their suppliers.
The prepayment of suppliers depends on some extensions, and this is one characteristic that as of 1st of January, it has higher investment because of the natural seasonality involved. Companies have been taking this tender period from March 20th and April 10th, as you said yourself, Octavio, in order to build a buffer of liquidity to cope with COVID-19.
Carlos Mouta, from Eleven Financial. Are the companies being successful in the courts regarding the amounts that were lost by the banks?
Thank you very much for the question. At Bradesco, I have not seen any case whatsoever of a client asking us to relieve the receivables. I only saw one case, but it was not of our bank. It was with another bank that does the credit cards, but it was a one-off, an isolated case.
As I said before, Brazilian society has to be aware of the fact that they should not provoke a chaos due to opportunistic reasons. I saw some big chains saying that they would no longer pay their rent. I think this has to be rethought. I have been talking with many companies, and I don't believe that this is a trend. 99.99% of people do not want to do that and contribute to building chaos in the country. Somebody who does not pay means somebody will not be paid. You have to pay your suppliers, your employees, you have to pay your obligations. You have to be extremely careful at a moment like this. If you have the money to pay, you must pay mandatorily. You have to pay. You have to pay your obligations.
If the client cannot pay the rent, we try to renegotiate and tackle the financial situation of this client. Overall, people have to be aware of the fact that they should not be opportunistic and try to take advantage of this situation. This would be evidence of a very bad character. Contracts have to be respected, and law and order have to be respected and complied with so that we may emerge from this crisis more quickly and more effectively. Otherwise, we would really drag this into the future. The country has to recover, and people have to be responsible.
Carolina from Reuters. What is the volume that-- Marcelo?
Thank you for the question. Yes, we are waiting for all instructions from the Central Bank regarding the secured credit and having a reference. We have plenty of liquidity, as Octavio said.
The liquidity of the bank is doing very well. With a very good quality, the liquidity indicators are very high, and we will be analyzing this, and we intend to have a spreadsheet for the next few days, but we are thinking that the trend is to a slightly higher cost than the current funding that institutions are carrying out now.
Matheus from Banco Santander. How do you see the scenario for 2020 and 2021?
Matheus, thank you for the question. I will give the floor to our chief economist. He is the best person to answer your question. Nery.
We disclose once a month, and the next one will be in two or three weeks, and we will have an important update. Our first estimate was a drop of 1% of the GDP, and which is lagging behind, as Leandro has already said.
We are thinking about -3%, -4% today. We have been tracking in our surveys, our proprietary surveys, the daily behavior of the economy. What we can say is that Brazil has a similar behavior as other countries for 2020. The GDP should be around 3% to 4% negative. For 2021, we don't know how much debt will be left from the government and from companies to be paid in 2021. We are talking about in 2022. I'm more bullish about 2021. I believe that once the crisis is left behind, we should accelerate our growth, especially if Congress and the government limit public expenditures for 2021 or during the existence of this pandemic, because then we can leave this behind in good conditions.
Unfortunately, we do not have any time left to answer any additional questions. We will try to get in contact with you.
Thank you very much for your attention. This is Leandro speaking, and I hope we have been able to clarify a few points to you. Be there to Nery and the investor relations area will be available to you as usual and with the same degree of transparency and so that we may clarify any further doubts that you might have. Now we're working. Of course, you know that on the 30th, we will have our conference call about our results. Please take care, please stay safe, and we wish you a very good week, and we hope we can overcome as quickly as possible this crisis, this pandemic. A virtual big hug to all of you. Our call has reached an end. We wish you all a very good week. Thank you.
Thank you very much. The Bradesco conference call has come to an end. We thank you very much for participating and wish you a good day. Thank you.