2013 Annual Report
ECONOMIC/FINANCIAL INFORMATION (BR GAAP)
ACCOUNTING AND MANAGERIAL RESULTS RECONCILIATION (R$ MILLION)
Statements Of Value Added G4-EC01
Reclassifications
I ADDED VALUE DISTRIBUTION
ADDED VALUE DISTRIBUTION
2012
Tax Effect
Credit
Accounting of Hedge(1) Recovery (2)
Amortization
of goodwill(3)
Profit
2012
sharing
NET INTEREST INCOME
32,563
(1,437)
Allowance for Loan Losses
(14,991)
1,769
(1,769)
(148)
Others(4) Managerial
32,380
R$ Million
2013
2012
2011
17%
Personnel
6,354
6,408
5,935
(13,223)
Taxes, charges and
NET INTEREST INCOME AFTER
contribution taxes
4,325
4,468
2,656
5%
LOAN LOSSES
17,572
(1,437)
(148)
19,158
Third Party Capital Yield
742
617
546
Fee and commission income
9,680
9,680
Interest on Equity
2,355
2,852
3,638
General Expenses
(18,499)
(3,637)
980
(15,842)
Total
13,776
14,346
12,775
Personnel Expenses + Profit Sharing
(6,318)
980
(7,299)
Administrative Expenses
(12,181)
(3,637)
(8,544)
32%
0
46%
Personnel
Taxes, charges and
contribution taxes
Third Party
Capital Yield
Interest on Equity
Tax Expenses
(3,028)
110
(3,138)
Investments in Affiliates and Subsidiaries
1
1
Other Operating Income/Expenses
(3,143)
(3,143)
OPERATING INCOME
Non Operating Income
2,584
218
(1,327)
(3,637)
980
(148)
6,716
TAXES AND CONTRIBUTIONS
(R$ Million)
EMPLOYEES
(R$ Million)
(148)
70
NET PROFIT BEFORE TAX
2,802
(1,327)
(3,637)
980
6,786
4,468
4,325
Income Tax
1,031
1,327
(296)
6,408
6,354
5,935
Profit Sharing
(980)
(980)
Minority Interest
(126)
NET PROFIT
2,726
(0)
(3,637)
(126)
2,656
6,363
(1) Fiscal Hedge: Under Brazilian income tax rules, gains (losses) resulting from the exchange rate variation on the foreign currency investments are not taxable (tax deductible). This tax treatment
leads to foreign exchange rate exposure in the tax line. A hedge position was set up in order to immunize the net profit from the impact of the foreign exchange variation on the income tax and
tax expenses lines.
(2) Credit Recovery: Reclassified from lending operations to allowance for loan losses.
(3) Amortization of goodwill: Reversal of goodwill amortization expenses.
(4) Others: Banco Santander recorded equity income gains of R$148.5 million referring to subsidiary that holds private equity investments and businesses related to banking supplementary services.
68 Annual Report 2013
2011
2012
2013
2011
2012
2013
COMPENSATION OF THIRD-PARTY CAPITAL RENTAL
(R$ Million)
617
546
742
REMUNERATION OF INTEREST ON CAPITAL
(R$ Million)
3,638
2,852
2,355
2011
2012
2013
2011
2012
2013
69View entire presentation