2013 Annual Report
ECONOMIC/FINANCIAL INFORMATION (BR GAAP)
Allowance for loan losses
The allowance for loan losses totaled R$ 11,720 million, down 11.4% in 12 months. The reduction was primarily due
to improved delinquency in the portfolio as well as increased efforts to recover loans.
Balance Sheet
At the close of 2013, total assets stood at R$ 485,866 million, 8.2% up in 12 months. In the same period, total equity came
to R$ 62,819 million, or R$ 53,446 million excluding goodwill.
ALLOWANCE FOR LOAN LOSSES (R$ MILLION)
ASSETS (R$ MILLION)
Gross allowance for loan losses
Income from recovery of written off loans
Total
2013
(14,227)
2,507
(11,720)
2012
(14,991)
Change 2013x2012
2013
2012
Change 2013x2012
-5.1%
Current Assets and Long-Term Assets
465,777
426,016
9.3%
1,769
(13,223)
41.8%
Cash and Cash Equivalents
5,486
4,742
15.7%
-11.4%
Interbank Investments
47,655
36,771
29.6%
Money Market Investments
32,457
21,354
52.0%
Interbank Deposits
2,480
4,616
-46.3%
Other operating income (expenses)
Foreign Currency Investments
12,718
10,801
17.7%
Securities and Derivative Financial Instrument
78,146
76,832
1.7%
Other operating income (expenses) came to R$ 3,108 million in 2013, down by 1.1% (or R$ 35 million) in 12 months.
Own Portfolio
35,923
37,869
-5.1%
Subject to Repurchase Commitments
20,962
20,225
3.6%
I OTHER OPERATING INCOME (EXPENSES) (R$ MILHÕES)
Posted to Central Bank of Brazil
4,603
1,487
209.5%
Other operating income (expenses)
Expenses from cards
Net Income Capitalization
Provisions for contingencies(1)
Others
(1) Includes tax, civil and labor provisions.
2013
(3,108)
2012 Change 2013x2012
(3,143)
(196)
(353)
-44.5%
(1,538)
(1,291)
-1.1%
19.1%
117
269
(1,643)
308
(1,807)
-12.6%
-9.1%
Others
Interbank Accounts
Pledged in Guarantees
9,394
12,417
-24.3%
7,264
4,834
50.3%
35,833
34,517
3.8%
Interbranch Accounts
1
2
n.a.
Lending Operations
212,508
197,370
7.7%
Lending Operations
227,482
211,959
7.3%
Lending Operations Related to Assignment
25
n.a.
(Allowance for Loan Losses)
(14,999)
(14,589)
2.8%
Others Receivables
84,339
74,166
13.7%
Income tax expenses
Taxes totaled R$ 518 million in 2013, with an effective tax rate of 8.0%, up 3.6 p.p. in 12 months.
Other Assets
Permanent Assets
Investments
Fixed Assets
Intangibles
Goodwill
1,809
20,088
1,617
11.9%
22,860
-12.1%
137
40
n.a.
6,807
5,602
21.5%
13,144
17,218
-23.7%
26,245
26,172
0.3%
Intangible Assets
(Accumulated Amortization)
Total Assets
7,062
7,117
-0.8%
(20,162)
(16,072)
25.5%
485,866
448,876
8.2%
56 Annual Report 2013
Goodwill (net of the amortization)
9,374
Total Assets (excluding goodwill)
476,492
12,937
435,938
-27.5%
9.3%
57View entire presentation