2013 Annual Report
ECONOMIC/FINANCIAL INFORMATION (BR GAAP)
Income from current account services came to R$ 1,803 million
in 2013, growth of 11.8% (or R$ 190 million) in 12 months.
Income from lending operations totaled R$ 1,182 million,
8.1% (or R$ 104 million) down in 12 months.
Income from collection services amounted to R$ 810 million
in 2013, up 12.5% (or R$ 90 million) in 12 months.
FEE AND COMMISSION INCOME (R$ MILLION)
Cards(1)
Insurance fees
Current Account Services
Also, Revenue from the Management of Funds, Consortia
and Assets fell by -7.7% in twelve months, reflecting the
discontinuation of the operations of Santander Brasil Asset
Management Distribuidora de Títulos e Valores Mobiliários
S.A., as mentioned on page 51. Excluding this event, this
line edged fell by 2.3% in twelve months.
General expenses (administrative + personnel)
Administrative and personnel expenses (excluding
depreciation and amortization) totaled R$ 14,565 million
in 2013, up 2.9% (or R$ 413 million) in 12 months.
Personnel expenses, including profit sharing, came to
R$ 7,241 million in 2013, down 0.8% (or R$ 57 million) in
12 months. Administrative expenses (excluding depreciation
and amortization) amounted to R$ 7,324 million in 2013,
6.9% (or R$ 471 million) more than in 2012, due to higher
expenses from "outside and specialized services", "rentals"
and "data processing".
Depreciation and amortization totaled R$ 1,732 million
in 2013, up 2.4% (or R$ 41 million) in 12 months.
2013
2012
Change
2013x2012
3,182
2,660
19.6%
1,819
1,461
24.5%
1,803
1,612
11.8%
1,172
1,269
-7.7%
1,182
1,286
-8.1%
810
721
12.5%
448
416
7.8%
259
256
1.0%
10,674
9,680
10.3%
EXPENSES' BREAKDOWN (R$ MILLION)
Asset Management(2)
Lending Operations (3)
Collection Services(4)
Securities Brokerage, Custody and Placement Services
Others(3)
Total
(1) Includes credit card and acquiring services net of the amount transferred as interchange.
(2) Includes income from funds and consortia
(3) From 4Q13, we reclassified "income from guarantees provided" of "others" fees for "Lending Operations". For comparison, this reclassification is also reflected in prior periods.
(4) Includes collection and bills.
General expenses, including depreciation and amortization,
grew by 2.9% (or R$ 454 million) in 12 months. The efficiency
ratio stood at 47.5% in the full year.
EFFICIENCY RATIO(1)
46.8%
47.5%
44.3%
2011
2012
2013
(1) General expenses/(gross interest margin + fee income and bank charges +
tax expenses + Non-Interest income/expenses).
54 Annual Report 2013
2013
2012
Change
2013x2012
Outsourced and Specialized Services
2,339
2,135
9.6%
Advertising, promotions and publicity
Data processing
Communications
440
475
-7.4%
1,294
1,223
5.8%
612
613
-0.3%
Rentals
Transport and Travel
Security and Surveillance
Maintenance
Financial System Services
742
617
20.1%
217
209
3.8%
593
560
5.9%
201
193
3.9%
352
280
25.6%
Water, Electricity and Gas
Material
163
173
-5.9%
100
107
-6.4%
Others
272
266
2.0%
Subtotal
7,324
6,853
6.9%
Depreciation and Amortization (1)
1,732
1,691
2.4%
ADMINISTRATIVE EXPENSES
9,055
8,544
6.0%
Compensation (2)
4,579
4,661
-1.7%
Charges
1,342
1,399
-4.1%
Benefits
1,161
1,080
7.5%
Training
139
141
-1.1%
Others
19
18
8.6%
PERSONNEL EXPENSES
7,241
7,299
-0.8%
ADMINISTRATIVE + PERSONNEL EXPENSES (excludes deprec. and amortization)
14,565
14,152
2.9%
TOTAL GENERAL EXPENSES
16,297
15,842
2.9%
(1) Excludes the expenses of goodwill amortization, which in 4Q13 was R$909 million, 4Q12 was 909 million and in 3Q13 was R$ 909 million.
(2) Includes Profit Sharing.
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