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1 Highlights Adjusted net income reached R$4.113 billion, down 3.8% - PowerPoint PPT Presentation

Nov 18, 2022 •274 likes •621 views

1 Highlights Adjusted net income reached R$4.113 billion, down 3.8% from 1Q15 and ROAE (linear calculation) reached 17.5%; NII Interest-earning portion increased 11.0% from 1Q15; Fee and commission income increased by 11.5% y-o-y;

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  2. Highlights  Adjusted net income reached R$4.113 billion, down 3.8% from 1Q15 and ROAE (linear calculation) reached 17.5%;  NII – Interest-earning portion increased 11.0% from 1Q15;  Fee and commission income increased by 11.5% y-o-y;  Operating Expenses went up by 11.1% from 1Q15;  The Efficiency Ratio reached 37.2%, its best level ever, and the Operating Coverage Ratio (Fee and commission income to Administrative and Personnel Expenses) reached 80.1%;  Tier I ratio reached 12.9%, up 80 bps from 1Q15 (after the increase in phase-in adjustments from 40% to 60%);  Total assets amounted to R$1.102 trillion, up 6.5% from 1Q15;  Expanded loan portfolio reached R$463.2 billion, remaining virtually stable y-o-y;  Delinquency over 90 days reaches 4.2% in Mar16 and ALL expenses went up by 52.2%;  Effective Coverage Ratio reached 220.5% (ALL to 12-month expected losses);  Net income from insurance operations amounted to R$1.380 billion in 1Q16, up 7.6% from 1Q15; and  Insurance premiums increased 11.4% y-o-y. 2 2

  3. Book Net Income x Adjusted Net Income 1Q16 4Q15 1Q15 R$ million Book Net Income 4,121 4,353 4,244 (8) Non-recurring events (net of tax effects) 209 30 (90) - Gains in the Partial Sale of Investments - - - - Reversal of technical reserves (276) - 25 - Contingent Liabilities 13 30 57 - Impairment of Assets (1) 472 - 4,113 Adjusted Net Income 4,562 4,274 (1) In the first quarter of 2016, it refers to the impairment of Shares, in the amount of R$57 million; and in the fourth quarter of 2015, it refers to the impairment of: (i) Permanent/Intangible Assets, in the amount of R$234 million; and (ii) Shares, in the amount of R$238 million. 3 3

  4. Adjusted Net Income Growth R$ million Earnings per Share* Earnings per Share* -9.8% R$ 3.55 R$ 3.52 543 354 26 4,562 132 (420) 4,113 (56) (836) (192) (1,256) 42 Income from Insurance 4Q15 NII Interest-Earning NII Non-Interest- PLL Fee and Operating Expenses Others (3) 1Q16 Premiums, minus Portion Earning Portion Commission (2) Variation of Technical Income Reserves, Retained Claims and others (1) Earnings per Share* Earnings per Share* -3.8% R$ 3.52 R$ 3.21 1,461 414 661 125 (168) 1,032 4,274 4,113 (836) (786) (1,868) Income from Insurance 1Q15 NII Interest-Earning NII Non-Interest- PLL Fee and Operating Expenses Others (3) 1Q16 Premiums, minus Portion Earning Portion Commission (2) Variation of Technical Income Reserves, Retained Claims and others (1) (1) In “Others”, it includes:Capitalization Bond Draws and Redemption – Insurance, Pension Plan and Capitalization Bond Sales Expenses; (2) Administrative and Personnel Expenses; and (3) For the quarter and the year, mainly consisting of: (i) income tax and social contribution; (ii) other operating income/expenses; (iii) tax expenses; and (iv) Equity in the Earnings (Losses) of Uncosolidation Companies. * Earnings per share – Accumulated over 12 months. 4 4

  5. Net Income Breakdown 1Q16 4Q15 1Q15 - Credit Intermediation 29% 33% 33% 28% - Fees 28% 27% 9% - Securities / Others 8% 10% Banking 66% 69% 70% Insurance 34% 31% 30% Diversification -Other 71% ~ = Activities 5 5

  6. Total Assets (ROAA), Shareholders’ Equity (ROAE), Efficiency and Operating Coverage Ratios R$ million Total Assets (ROAA) Shareholders' Equity (ROAE) 1.7% 1.7% 20.5% 20.6% 17.5% 1.5% 11.2% 6.5% 93,330 88,907 1,101,763 1,079,755 1,034,814 83,937 140,527 128,245 158,295 5.0% 2.0% 906,569 921,460 961,236 Mar15 Dec15 Mar16 Mar15 Dec15 Mar16 Patrimônio Líquido (ROAE) ROAE (1) (2) Brazil Abroad ROAA (1) (2) Operating Efficiency and Coverage 79.1% 80.0% 80.1% 78.7% 77.4% 76.7% 75.9% 74.1% 50.0% 48.7% 47.9% 46.9% 46.5% 46.6% 46.5% 47.1% 40.9% 39.9% 39.2% 38.3% 37.9% 37.9% 37.5% 37.2% 38.6% 38.5% 39.9% 38.4% 36.3% 37.2% 38.3% 35.3% 2Q14 3Q 4Q 1Q15 2Q 3Q 4Q 1Q16 Quarterly Efficiency Ratio 12 Month - Operating coverage ratio (Fee and Commission Income / Administrative and Personnel Expenses) 12 - Month Risk-Adjusted Efficiency Ratio 12 - Month Efficiency Ratio (1) Year-to-date Adjusted Net Income; and (2) Excludes mark-to-market effects of available-for- sale securities recorded under Shareholders’ Equity; and calculated on a linear basis. 6 6

  7. NII – Interest-Earning Portion and Non-Interest-Earning Portion 14.7% 14.3% 13.5% 12.7% 12.0% 11.6% 13.5% 11.1% 13.0% 12.4% 11.8% 10.7% 11.2% 10.8% 10.3% 9.7% 7.4% 7.5% 7.5% 7.5% 7.3% 7.1% 7.0% 6.9% 14,892 14,512 13,541 13,735 13,599 R$ million 158 12,986 132 12,281 26 12,066 326 126 300 119 289 14,734 14,380 13,709 13,415 13,273 12,686 12,162 11,777 2Q14 3Q 4Q 1Q15 2Q 3Q 4Q 1Q16 NII Non-Interest-Earning Portion NII Interest-Earning Portion BM&F Fixed Rate (12 months) Average Selic Rate (12 months) Average NIM for the last 12 months = ( NII - Interest Earning Portion /Average Assets - Repos - Permanent Assets) 7 7

  8. NII-Interest-Earning Portion Variation % 1Q16 R$ million 4Q15 1Q15 Q-o-Q Y-o-Y - Credit Intermediation 11,486 11,313 10,242 1.5 12.1 1,475 1,523 1,420 - Insurance (3.2) 3.9 1,773 - Securities / Others 1,544 1,611 14.8 10.1 14,734 NII - Interest-Earning Portion 14,380 13,273 2.5 11.0 8 8

  9. Credit Intermediation Margin 47.4% 37.1% 35.6% 35.0% 34.2% 34.0% 33.2% 32.9% (1) 40.2% 12.0% 11.1% 11.2% 11.2% 11.4% 11.5% 11.5% 11.7% 7.5% 7.5% 7.5% 7.5% 7.6% 7.5% 7.5% 7.3% R$ million 11,486 11,313 10,806 10,427 10,242 10,061 9,798 9,460 5,448 4,192 3,852 3,580 3,550 3,307 3,348 3,141 7,121 6,954 6,877 6,754 6,662 6,038 (2) 6,450 6,319 2Q14 3Q 4Q 1Q15 2Q 3Q 4Q 1Q16 Net Credit Margin PLL PLL / Gross Margin % Gross Spread (Accumulated over 12 months) % Net Spread (Accumulated over 12 months) % Net Credit Margin -15.2% compared to 4Q15, and -9.4% compared to 1Q15. Loan Portfolio - By Flow of Maturities (%) 36.2% 63.8% (up to180 days) (Over 180 days) 16-Mar 11.1 7.9 5.9 11.3 14.9 48.9 Mar16 1 to 30 days 31 to 60 days 61 to 90 days 91 to 180 days 181 to 360 days Over 360 days Higher Loan Turnover Ratio (36.2%) Better Spreads. (1) Without effect of the alignment of the allowance level from a specific corporate client; and (2) If we ignore the effect of the alignment of the allowance level from a specific corporate client, net margin, in the first quarter of 2016 would be R$6,874 million. 9 9

  10. BIS Ratio Changes in the Common Equity/Tier I Ratio in the Quarter Prudential Conglomerate Financial Conglomerate Common Equity Tier I Ratio - Dec15 12.7% In % Schedule of phase-in arrangements (from 40% to 60%) -1.0% 16.9 16.8 16.5 16.3 15.8 16.0 15.2 Dividends / Interest on Shareholder's Equity -0.2% 14.5 Subtotal Common Equity Tier I Ratio 11.5% Net Income for the first quarter of 2016 0.7% 12.9 12.9 12.8 12.7 12.6 12.1 12.1 Mark-to-market adjustments of Available for Sale Securities 0.3% 11.4 Decrease of Risk-Weighted Assets 0.3% Others 0.1% Jun14 Sept Dec Mar15 Jun Sept Dec Mar16 Common Equity Tier I Ratio - Mar16 12.9% Total Ratio Tier I / Common Equity Fully Loaded Bis III Ratio 12.5 13.1 12.9 TIER I 2.0 Subordinated Debt 11.1 11.3 1.5 (6) Limits Limits 01.01.19 (5) (2.1) 2016 (5) (1.6) (0.2) 11.0 9.5% Tier I 8.0% Common Tier I 6.6% Equity Common 5.1% Equity Common Equity (1) Schedule of phase-in Common Equity Early adoption of Basel III fully loaded Consumption of tax Simulation - Basel III Acquisition of HSBC Simulation - Basel III arrangements - early considering the risk-weighted assets common equity credits fully loaded common (4) fully loaded common adoption (2) 100% deductions rules (3) equity equity Additional Capital Common Equity (1) Published (Schedule 60%); (2) Effect of the full impact. Includes the allocation of resources, obtained via payment of dividends, of the Insurance Group; (3) Considers the decrease in the market and operational risks multiplier (early adoption), from 9.875% to 8% in 2019; (4) Under analysis by the Regulating Agencies; (5) (Refers to the minimum required. It is important to highlight that Bacen fixed at 0% the tranche of countercyclical capital required, which could reach up to 2.5% in 2019; and (6) Considering a possible issuance of additional capital by 2018, according to the management, depending on market conditions. 10 10

  11. Expanded Loan Portfolio Variation % Mar16 R$ million Dec15 Mar15 Q-o-Q Y-o-Y Companies 315,449 326,278 321,254 (3.3) (1.8) Large Corporates 212,237 215,892 206,338 (1.7) 2.9 SMEs 103,212 110,386 114,916 (6.5) (10.2) Individuals 147,759 147,749 142,051 - 4.0 35,503 Payroll-Deductible Loan 34,565 31,497 2.7 12.7 27,566 Credit Cards 28,592 24,586 (3.6) 12.1 15,219 Personal Loans 15,201 15,882 0.1 (4.2) Real Estate Financing 23,839 22,781 18,778 4.6 27.0 CDC / Leasing - Vehicles 20,654 21,689 23,953 (4.8) (13.8) Others 24,978 24,921 27,355 0.2 (8.7) Expanded Loan Portfolio - Total 463,208 474,027 463,305 (2.3) - 11 11

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