Banco PINE 1Q10 Institutional Presentation Results Strategy Cross-Selling

Institutional
Presentation
1Q10

Investor Relations | 1Q10 2/38
History and Profile
Banco PINE at a Glance
History of Banco PINE
Management of the Crisis
Agility in Granting Credit
Strategies for the Current Scenario
Market Positioning
Organizational Structure
Cross-Selling Opportunities
1Q10 Results
Corporate Governance and Shares
Corporate Governance
Main Committees
Shares Breakdown
Shares
Dividends
Social Responsibility
Appendix
Agenda

PINE excels at providing financial services to Companies
Banco Pine at a Glance
Credit Portfolio by Customers’ Annual Revenues
A1.br Brazil national scale
Ba2 Long/short-term foreign and
local-currency deposit
Focused on serving companies with annual revenues
above R$150 million, offering a complete range of
financial products in local and foreign currency
Total assets of R$7.8 billion
Total credit exposure of R$ 5.0 billion
Relationship-driven, agile and service-oriented
Strong team, with correct incentives in all areas of
operation
Shareholders’ Equity of R$839 million
PINE4: traded at BMF&Bovespa Level 1 Corporate
Governance
Solid Credit
Br A- Brazil national scale
BB- Long/short-term foreign and
local-currency deposit
A(bra) Brazil national scale
BB- Long/short-term foreign
and local-currency deposit
March 31, 2010
Over R$ 1
BI
50%
R$ 500
MM to R$
1 BI
22%
R$ 150
MM to R$
500 MM
16%
Up to R$
150 MM
12%

1939 – Pinheiro Family founds its first bank in Brasil –
Banco Central do Nordeste
1975 - Noberto Pinheiro becomes one of the contolling
shareholder of Banco BMC
1997 - Noberto and Nelson Pinheiro sell their stake at
BMC and found Banco PINE
2005 - Noberto Pinheiro becomes Banco PINE´s sole
shareholder
2007 – Start up of Cayman branch and IPO
2009 - Foundation of PINE Investimentos
1997
Foundation of Banco
PINE
Sole focus on
Corporate Lending
History of Banco PINE
Founded in 1997, Banco PINE has been showing a track record of resilient development
2004
Opportunity
Identified in
the payroll
loan segment
2007
IPO
Cayman Branch
Decision to
deleverage
payroll lending
2005
Noberto Pinheiro
becomes Banco PINE’s
sole shareholder
Strategic decision of exiting the payroll-loan
business, at the end of 2007
CORPORATE
100% focused on the Bank’s traditional core
business
Agile, complete and customized services for
Companies
Cross-Selling: diversified and sophisticated
products
PAYROLL-LOAN
Reduced margins
Increased competition
Excessive regulation
Scale needs
Lack of cross-selling opportunities
Excessive lengthening of maturities
End of pre-payment fee
1939
Foundation of
Banco Central do
Nordeste
1975
Noberto Pinheiro
becomes one of the
BMC’s controlling
shareholder
2009
Foundation of
PINE
Investimentos

Management of the Crisis
Agile and specialized management to overcome the crisis
Banco PINE’s strengths for managing the crisis:
No dependency upon long-term funding. Deleveraging of payroll
loans and auto loans “pilot project”, before the crisis
Strict policy of matching assets and liabilities, combined with agility
and efficiency in managing cash position
Repurchase of own shares and MTN bonds
Focus on companies with solid fundamentals and close relationship
with clients
Strong credit analysis, structuring and monitoring of the
collateralized credit portfolio
Strong risk controls and very low market risk exposure (Average VaR
of R$1.4 million in 1Q10)
Lack of leveraged derivatives exposure
Cross sale of credit products and financial services
*Effective cash position at the last day of each period.
37%
33%
40%
51%
45% 47%
37% 34%
Jun/08 Sep/08 Dec/08 Mar/09 Jun/09 Sep/09 Dec/09 Mar/10
Cash Position / Time Deposits*
1,967 1,841
1,243 1,334
1,756
2,154
2,784 2,715
Time Deposits+ Agribusiness Letter of Credit
(R$ Million)
5,047 4,885
4,264
3,873 3,922 4,113
4,753 4,980
Total Loan Portfolio (R$ Million)

Agility in Granting Credit
72-hour process in average; credit analysis may be concluded within 1 business day in special cases
Reports on credit
visits and loan
transactions
structuring
Credit analysis, visits
to clients, data
update, interaction
with internal research
team and issue of
opinion
Issue of opinion
Presentation of
proposals to the
Committee
CREDIT COMMITTEE
Electronic Process
Sales Officer
Credit Analyst
Platform and
Regional
Superintendents
Chief Credit Officer
and Credit Analysts
Strong origination team
Relationship close to clients and business with
high renewal ratio among clients/repeat
businesses
Cross sale of credit products and financial services
Diligent and complete credit analysis
Expertise and flexibility in credit structuring
Close monitoring of borrowers’ credit evolution
Agile credit decision making process
Management of receivables portfolio risks and
collaterals quality
Efficient loan process, documentation and
controls

Strategies for
the Current
Scenario

Simple structure and flat hierarchy
Organizational Structure
Operating Risk
& Compliance
Pine Investimentos
Gustavo Junqueira
Control and Market/
Liquidity Risk
Susana Waldeck
Financial & Products
Norberto Zaiet Jr.
Corporate Sales
Clive Botelho
Internal Auditors
Tikara Yoneya
External Auditors
Deloitte
Noberto Pinheiro
Chairman
Noberto Pinheiro Jr.
Vice-Chairman
Maurizio Mauro
Independent Member
Fernando Albino
External Member
Mailson da Nóbrega
Independent Member
Board of Directors
Sidney Veneziani
Sérgio Machado
Alcindo Itikawa
Fiscal Council CEO
Noberto N. Pinheiro Jr.
Credit Risk & Research
Gabriela Chiste
Corporate Operations
Ulisses Alcantarilla
Corporate
• Loan Portfolio
R$4.4 billion
• 430 Clients
• São Paulo
• Ribeirão Preto
• São José do Rio Preto
• Rio de Janeiro
• Curitiba
• Porto Alegre
• Belo Horizonte
• Recife
Corporate Credit
• Analysis and granting
of credit
• Credit risk monitoring
and analysis by
sector
Treasury
• Local
• International
• Clients
Funding
• Local
• International
International
• Cayman
• Trade Finance
Macro Research
Products
Investor Relations
Market and
liquidity Risk
Human Resources
Accounting
Controlling
Department
Credit Structuring
Credit Funds
Financial Advisory
Private Equity
Distribution
Corporate
Processing and
Formalization
Legal

Large multiple banks
Wholesale
mid-size banks
Poorly served segment
Banco PINE: focused on corporate loan, offering tailor-made
sophisticated products with transparency and agility.
Mid-sized banks
Foreign
Banks
Large banks consolidation process have
reduced clients’ credit limits
Market Positioning
PINE is positioned in a segment poorly served in the local market
Foreign banks
have reduced
their risk
appetite after
the global
financial crisis

Strategies for the New Scenario
Loan portfolio expansion and cross-selling opportunities
Challenges for the New Scenario:
Lower interest rates & volatility
Capital optimization:
Stronger leveraging
Cross-selling:
More products per client
Corporate
Loans
Loans
Overdraft accounts
Discounts
Compror/Vendor
Linked Collection
Foreign Exchange
/ Trade Finance
Exports
ACC/ACE
Letter of Credit
Documentary
Collection
Prepayment
Imports
Letter of Credit
Advance Payments
Documentary
Collection
Spot Foreign
Exchange
Foreign currency
loans and
investments
Loans (2,770)
Foreign Lending
Foreign
Investments
Onlending
FINAME
Automatic
Manufacturer
Agribusiness
Others
EXIM
Pre-shipping
Special Pre-shipping
Post-shipping
Automatic BNDES
FINEM
Guarantees
Bidding
Public tenders
Performance
Credit/Financial
Institutions
Treasury
Currencies
Rates
Commodities
Equities
Macro Advisory
Investments
Local Currency
CDB/ RDB
Government Bonds
FIDC (Receivables
Investment Funds)
CDI (Interbank
Deposit
Certificate)
LCA (Agribusiness)
Credit Funds
Private Equity
Foreign Currency
CD -Certificate of
Deposit
Demand Deposit
Accounts
Eurobonds
Custody Account
Money Market
Accounts
Time Deposit
Private Equity
PINE
Investimentos
Underwriting and
Syndicated Loans
Private Equity
Credit Funds
Advisory

Positioning of our business:
“More than selling products, our mission is to understand the needs of our
clients in order to provide solutions for their businesses,
strengthening the relationship”
Client Selection
Business Analysis
Visits Strategies
Sharing of Information
Visits
Information Analysis
Planning of actions
and executions
Offer to Client
Cross-selling
Strategy for creation of a cross-selling culture

Cross-Selling Opportunities
PINE Investimentos Clients’ Dealing Desk
Clients’ Dealing Desk offers alternatives for mitigating
market risk mismatches, giving more predictability to
clients’ balance sheets
Markets
Currencies Derivatives
Commodities Derivatives
Interest Derivatives
FX
Others
Products
Non Deliverable Forward
Options
Swap
Structure Options
Double Indexed time deposits
Low exposure to market risks
It does not offer exotic and/or leveraged derivatives
VaR, on March 31, R$1,160 thousand
Average VaR in the quarter R$ 1,439 thousand
Creation of new values for clients and optimization of the
Bank's capital usage
Third-parties Asset Management
Credit Funds
Private Equity Funds
Corporate Services
Mergers & Acquisitions
Financial Advisory
Credit Structuring
Syndicated Loans
Banco PINE’s current partnerships include:
Private Equity Fund in association with the American
Global Emerging Market Fund (GEM)
Financial advisory services provided together with
Pátria Investimentos
Exclusive credit funds
Additional products to our core business, credit to Companies

1Q10 Highlights
Banco PINE continued to grow its deposits and its loan portfolio, with better quality
10.1% 10.7%
15.3%
1Q09 4Q09 1Q10
ROAE
460 bps 520 bps
D QoQ D YoY
30,842
38,223
47,880
1Q09 4Q09 1Q10
Operating Income (R$ Thousand)
25.3% 55,2%
D QoQ D YoY
2,842
4,118
4,462
Mar-09 Dec-09 Mar-10
Corporate Loan Portfolio (R$ Million)
8.3% 57.0%
D QoQ D YoY
14,187
7,097
4,800
1Q09 4Q09 1Q10
Provisions for Loan Losses (R$ Thousand)
(Excludes additionals and reversions)
-32.4% -66.2%
D QoQ D YoY
1,553
3,029 3,013
Total Deposits +
Agribusiness Letter of Credit (R$ Million)
-0.5% 94.1%
D QoQ D YoY
1.6%
0.7% 0.7%
Non-Performing Loans
-90 bps
D QoQ D YoY

Balance Sheet
The on-book loan portfolio posted a 5.1% increase in the quarter
R$ million
Assets 7,792 6,984 5,537
Securities and derivative financial instruments 2,968 2,761 2,344
Lending operations 3,996 3,802 2,769
(-) Allowance for loan losses (67) (76) (97)
Net lending operations 3,929 3,726 2,672
Other 895 497 521
Liabilities 6,953 6,159 4,718
Deposits 2,735 2,784 1,520
Money market funding 2,236 1,600 1,483
Funds from acceptance and securities issued 817 815 855
Other 1,165 960 860
Shareholders' equity 839 825 819
Liabilities and Shareholders' equity 7,792 6,984 5,537

Results
Operating Income grew 25.3% in 1Q10
R$ thousand
1Q10 4Q09 1Q09
Gross income from financial intermediation 78,187 132,343 68,970
Fee Income 13,245 20,590 11,341
Personnel expenses (10,989) (11,488) (10,522)
Administrative expenses (18,855) (20,896) (20,764)
Tax expenses (7,289) (6,752) (6,136)
Other operating income / expenses (6,419) (75,574) (12,047)
Operating Income 47,880 38,223 30,842
Non-operating income - (512) 1,317
Income before taxes and profit sharing 47,880 37,711 32,159
Income and social contribution taxes (12,451) (15,355) (8,689)
Profit sharing (5,258) (1,208) (3,400)
Net income 30,171 21,148 20,070
Annualized ROAE 15.3% 10.7% 10.1%

Loan Portfolio
The corporate loan portfolio recorded 8.3% growth in 1Q10 and 57.0% in 12 months
3,873
4,753 4,980
Total Loan Portfolio (R$ Million)
4.8% 28.6%
D QoQ D YoY
75%
89% 92%
25%
11% 8%
Loan Portfolio Mix
Individuals
Corporate
1,767
2,703 2,822
72
176
242
43
21
19
688
707
745
272
511
634
Corporate Loan Portfolio Mix (R$ Million)
Guarantees
Trade
Finance
Resolution
2770
BNDES
onlendings
Working
Capital
8.3% 57.0%
2,842
4,118
4,462
D QoQ D YoY

Loan Portfolio by Product
Guarantees
Loan Portfolio - Corporate
Banco PINE operates in the major sectors of the economy and offers a full range of credit products
Operations in Major Sectors of
Economy
Sugar and
Ethanol
15%
Infrastructure
12%
Energy
12%
Agriculture
8%
Vehicles and
Autoparts
6%
Financial
Institutions
5%
Construction
5%
Logistics
5%
Specialized
Services
4%
Pharmaceuticals
3%
Meat Processing
3%
Metallurgy
3%
Mining
3%
Trade Finance
2%
Medical Services
2%
Other
12%
Working Capital
63%
BNDES onlendings
5%
Resolution 2770
1%
Trade Finance
17%
Guarantees
14%
Receivables
38%
Product
Fiduciary
Alienation
27%
Investments
6%
Property
Fiduciary
Alienation
8%
Promissory
Notes
16%
Payroll
5%

Loan Portfolio - Quality
The coverage of the overdue portfolio reached 225% in March 2010
0.00%
1.95%
0.30%
0.91%
0.11%
0.65%
0.96% 1.00%
0.60%
0.90%
0.71% 0.67%
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Mar-10
Real
Devaluation
Nasdaq WTC Brazilian
Elections
Banco Santos
Liquidity Crisis
Global
Financial Crisis
Credit Portfolio Quality D-H Overdue Portfolio/ Total Portfolio
AA,
23.0%
A, 52.2%
B, 19.5%
C, 3.5%
D-E, 0.5%
F-H, 1.3%

Provisions for Loan Losses
Due to better quality of the portfolio, the Bank decided to reverse the remaining additional
provision recognized in 4Q08
R$ thousand
History of Provisions for Loan Losses
Settlement of some operations, in some cases after mergers or acquisitions
Low number of clients with overdue credit in the quarter
Expectation of positive credit cycle in 2010
1Q10 4Q09 3Q09 2Q09 1Q09 4Q08
Accounting Provisions (1,300) 7,203 (20,298) (22,043) (14,187) (46,547)
Aditional Provisions - - - - - 20,600
Reversal (3,500) (14,300) - (2,800) - -
(4,800) (7,097) (20,298) (24,843) (14,187) (25,947)
Total Provisions for
Loan Loses

Loan Portfolio - Individuals
Above 50% reduction of individuals loan portfolio in a year, in line with the strategy of discontinuing
payroll loans
BUSINESS’ EXPENSES
Prepayment of loan transactions
Provisions for loan losses
Personnel and administrative expenses (including
expenses with the payroll insurance and
commissions)
EXPECTATION TO REDUCE THE CREDIT AT AN
ACCELERATED PACE
Expenses related to this business should be reduced
until the end of 2010
THE EXIT STRATEGY OF THE PAYROLL LOAN BUSINESS IS NEARING A CONCLUSION
832
441
351
93
56
48
Individuals Loan Portfolio Mix(R$ Million)
On book
Off book
925
497
399
-19.8% -56.9%
D QoQ D YoY

Funding
Diversified sources of funding
Comfortable funding situation
Subordinated Notes
Joint Bookrunners
Public Offering
2010
US$ 125 Million
Foreign Funding - Private Issuances
US$ 33.6 Million
US$ 35.5 Million US$ 52.8 Million
US$ 39.9 Million
US$ 20.0 Million
1,553
3,029 3,013
832
441 351
712
586 521
382
242 447
143
229 296
Funding Mix (R$ Million))
Borrowings and
onlendings
Funds from
Acceptance and
Securities Issued
Trade Finance /
Cayman
Loan Assignments
Total Deposits
2.2%
DQoQ
27.8%
DYoY
3,622
4,527 4,628
3,622
4,527 4,628
1Q09 4Q09 1Q10
Total Funding (R$ Million)
2.2% 27.8%
D Tri D Ano

Funding vs. Credit and Cash Position
Due to the issuance of subordinated debt made in 1Q10, the average term of funding increased to 16
months, compared with 11 months for the loan portfolio
(1) It does not consider Shareholders Equity
Type of Asset Funding
Time Deposits
Corporate
Domestic Loans
Corporate
BNDES On-lending
BNDES On-lending
Corporate
International Loans
FX Lines
Debt Bonds – Senior
and Subordinated
Up to 3
months
(includes
Cash)
R$ 1,886
3 to 12
months
R$ 1,662
1 to 3 years
R$ 1,654
3 to 5 years
R$ 47
Over 5 years
R$ 3
Credit + Cash Position
With no
Maturity
R$ 50
Up to 3
months
R$ 1,674
3 to 12
months
R$ 1,141
1 to 3 years
R$ 1,325
3 to 5 years
R$ 198
Over 5 years
R$ 240
Funding(1)

BIS Ratio
BIS ratio was 14.9%. Including the new issuance, this ratio would be 18.7%
Equity (R$
Thousand)
Basel Ratio %
Tier I 836,448 14.4%
Tier II 29,282 0.5%
Total 865,730 14.9%
Tier II (new issuance) (1) 222,525 3.8%
BIS (including new issuance) (1) 1,088,255 18.7%
(1) The issuance of subordinate notes occured in February, 2010. Waiting for authorizatio n of the Brazilian Central Bank to be
incorporated into Banco PINE's Tier II

Corporate
Governance
and Shares

Corporate Governance
Banco PINE adopts the best corporate governance practices
Clear Policies
Performance
Monitoring
Risk Management
Settlement of
Responsibilities
Alignment of
Internal Policies
Compliance with
Legislation and
interests
Two independent members and one external member in the
Board of Directors
Mailson Ferreira da Nóbrega: Finance Minister of Brazil
from 1988 to 1990
Maurizio Mauro: CEO of Booz Allen Hamilton and Grupo
Abril
Fernando Albino de Oliveira: ex-director of CVM and
partner of Albino Advogados Associados
São Paulo Stock Exchange Level 1 of Corporate Governance
Fiscal Council
100% tag along rights for all shareholders, including non-voting
shares
Arbitration procedures for fast settlement of litigation

Main decisions are taken by committees: Board of Directors and a structure of specific committees
Non-stop exchange of knowledge and information
Transparency
Main Committees
Banco PINE believes that the use of the best corporate governance practices substantially enhances
its business‟ outcome
Board of
Directors
Fiscal Council
Audit
Support
Committee
Treasury
Committee
(ALCO)
National and
Foreign Funding
Products
Committee
Credit
Committee
Retail
Committee
Delinquency
Committee
Compliance
and Basel
Risk
Committee
Executive
Committee
Performance
Evaluation
Committee
Ethics
Committee
IT
Committee
Human
Resources
Committee
PINE
Investimentos
Committee

Shareholders’ Structure
The management holds 3.3% of the total shares
ON PN Total %
Noberto Nogueira Pinheiro 45,443,872 14,338,627 59,782,499 70.0%
Management - 2,817,955 2,817,955 3.3%
Free Float - 20,733,812 20,733,812 24.3%
Subtotal 45,443,872 37,890,394 83,334,266 -
Treasury - 2,074,839 2,074,839 2.4%
Total 45,443,872 39,965,233 85,409,105 100.0%
Base: 03/31/2010

Dividends
On March 31, 2010, the total amount of R$ 15.0 million in interest on own capital and dividends
were paid to shareholders
R$ million R$
Gross Value Total Value Value per Share
Interest on own capital 12.1 0.145294
Dividends 2.9 0.034704
Total paid in 1Q10 15.0 0.179998
Since 2008, Banco PINE has paid quarterly dividends/interest on own capital quarterly

Social
Casa Hope
Instituto Alfabetização Solidária
Instituto Sedes Sapientiae
Instituto Casa da Providência
Charity Day - ICAP Brasil CTVM
Sports
Minas Tênis Clube: training program for
athletes
Passe de Mágica: created in 2004 by Magic
Paula and Branca, former Brazilian basketball
players, to offer basketball instruction for
children
Projeto Rede Atletismo Novos Talentos:
(New Talent Athletics Network Project)
training program for athletes developed and
maintained by the Aquarela Foundation
LOB do Tênis Feminino: development of
women's tennis in Brazil at the level of global
competitiveness
Social Responsibility
Banco PINE supports and promotes the Brazilian culture
Culture
A Cidade e a Rosa: retrospective of the artist
Paulo Von Poser
Diário de bordo de Pero Lopes de Sousa e a
viagem de Martim Afonso de Sousa (1530-
1532): expedition that resulted in the
foundation of São Vicente, Brazil’s first settlement
Responsible Credit
“Lists of Exceptions”: the Bank does not finance projects or
those organizations that damage the environment, are involved
in illegal labor practices or produce, sell or use products,
substances or activities considered prejudicial to society.
System of environmental monitoring, financed by the IADB and
coordinated by FGV, and internally-produced sustainability
reports for corporate loans.
Green Building

Global
Foreign Currency
Long Term
Outlook
Local Currency
Long Term
Outlook
National
Long Term
Short Term
Outlook
Bank Financial Strength
Ba2
Stable
Ba2
Stable
A1.br
Br-1
Stable
D
A
BB-B
Stable
BB-B
Stable
br A-Stable
Global
Foreign Currency
Long Term
Short Term
Outlook
Local Currency
Long Term
Short Term
Outlook
National
Long Term
Outlook
10.27
Low Risk for Medium Term (-)
Global
Foreign Currency
Long Term
Short Term
Outlook
Local Currency
Long Term
Short Term
Outlook
National
Long Term
Short Term
Outlook
Individual
Support
BB-B
Stable
BB-B
Stable
A(bra)
F1(bra)
Stable
C/D
5
Ratings
Solid credit structure

Macroeconomic Scenario
Challenge for the new scenario: economic growth and interest rate below historic rates
Brazil: Main Economic Indicators - Banco Pine
ECONOMIC INDICATORS (basis scenario: 75% of probability) 2002 2003 2004 2005 2006 2007 2008 2009 2010F 2011F 2012-15 (F)
Real GDP growth rate (%) 2.7% 1.1% 5.7% 3.2% 4.0% 5.4% 5.1% -0.2% 6.4% 5.2% 5.0%
R$:US$ end of the period (nominal) 3.54 2.91 2.67 2.34 2.14 1.79 2.40 1.75 1.73 1.90 1.62
R$:US$ average (nominal) 2.99 3.06 2.92 2.44 2.18 1.95 1.84 2.00 1.80 1.86 1.75
BR inflation (IPC / IPCA) 12.5% 9.3% 7.6% 5.7% 3.1% 4.5% 5.9% 4.3% 5.6% 5.0% 4.0%
BR inflation (IGP-M) 25.3% 8.7% 12.5% 1.3% 3.8% 7.7% 9.8% -1.7% 8.0% 6.0% 5.0%
BR interest rate (Selic, end of the period) 25.0% 16.5% 17.8% 18.00% 13.25% 11.25% 13.75% 8.75% 12.50% 10.50% 8.50%
BR interest rate (Selic, average) 19.5% 23.1% 16.4% 19.15% 15.06% 11.98% 12.54% 9.92% 10.46% 11.92% 9.50%
Total external debt (US$bn) 196.0 200.0 185.0 154.0 156.0 166.0 170.0 169.9 174.5 183.0 188.0
Private(US$bn) 85.0 80.0 70.0 66.0 80.0 96.0 103.0 105.6 114.0 125.0 131.1
Public (US$bn) 111.0 120.0 115.0 88.0 76.0 70.0 67.0 64.3 60.5 58.0 56.8
External Reserves (US$bn) 38.0 49.0 53.0 54.0 86.0 180.0 207.0 239.0 270.0 320.0 450.0
Total external debt (% of reserves) 516% 408% 349% 285% 181% 92% 82% 68% 54% 50% 37%
Private (% of reserves) 224% 163% 132% 122% 93% 53% 50% 42% 35% 33% 26%
Public (% of reserves) 292% 245% 217% 163% 88% 39% 32% 26% 19% 17% 11%
Trade balance (US$bn) 13.2 24.8 33.8 44.8 46.2 40.0 25.0 25.4 15.0 10.0 15.0
Current Account (US$bn) -7.6 4.2 11.7 14.0 13.6 1.5 -35.0 -24.3 -50.0 -55.0 -60.0
Current Account (% of GDP) -1.5% 0.8% 1.8% 1.6% 1.3% 0.1% -3.1% -2.4% -4.2% -4.9% -5.0%
Primary Surplus (% of GDP) 3.5% 3.9% 4.2% 4.4% 3.9% 4.0% 4.3% 2.1% 2.8% 3.3% 3.3%
Public sector net debt/GDP 55.5% 57.2% 51.8% 51.5% 45.0% 42.7% 37.0% 43.0% 41.0% 38.0% 39.0%
Brazil Risk (bps, end of period) 1,439 463 383 311 194 221 450 224 150 80 50

Financial Statements Highlights
R$ million
6 6
26
50
97
49
2004 2005 2006 2007 2008 2009
19.8%
35.7%
23.0%
26.4%
16.3%
16.4% 10.3%
19.1%
15.1%
12.0% 12.5%
9.9%
2004 2005 2006 2007 2008 2009
ROAE
ROAE Average Selic
43 49
86
141
151
120
2004 2005 2006 2007 2008 2009
Personnel and Administrative Expenses (excludes
commissions)
32
68 63
150
133
85
2004 2005 2006 2007 2008 2009
Net Income
Net Income Personnel and Administrative Expenses (excludes commissions)
Provisions Loan Losses ROAE

Balance Sheet Highlights
R$ million
*It includes Agribusiness Letters of Credit
1,386
1,991
3,215
5,700 6,176
6,984
Dec/04 Dec/05 Dec/06 Dec/07 Dec/08 Dec/09
Total Assets
171 209
335
800 827 825
Shareholders' Equity
421 553
853
1,951
1,462
3,029
Deposits
18.2%
20.7% 19.2% 18.3% 19.3%
15.6%
BIS Ratio
Total Assets Shareholders’ Equity
Deposits* BIS Ratio

Other Key Figures
R$ million
782
1,324
2,077
4,325 4,264
4,753
Total Loan Portfolio
759
1,341
2,085
3,623 3,737
4,527
Total Funding
54%
41% 40%
54%
39%
67%
2% 28% 32%
28%
26%
10%
8%
6%
11%
7%
13%
36% 5%
25%
17%
11%
18% 13%
4%
4% 5%
Funding Breakdown (%)
Deposits Loan Assignments Securities Issued Other Funding Borrowings and Onlendings
Total Funding Total Loan Portfolio
Funding Breakdown
54%
41% 40%
54%
39%
67%
2% 28% 32%
28%
26%
10%
8%
6%
11%
7%
13%
5%
36%
25%
17% 7%
18% 13%
4% 4% 5%
Dez/Dez/Dez/Dez/Dez/Dez/Mix de Captação (%)
Depositos Cessão de Crédito
Recursos, Aceites e Emissão de Títulos Trade Finance/Cayman
Obrigações por Repasses

Investor Relations
Noberto Nogueira Pinheiro Jr.
CEO
Nira Bessler
Head of Investor Relations
Alejandra Hidalgo
Investor Relations Analyst
Phone: +55-11-3372-5553
www.bancopine.com.br/ir
ir@bancopine.com.br
This presentation contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Banco Pine. These are
merely projections and, as such, are based exclusively on the expectations of Banco Pine’s management concerning the future of the business and its continued access to capital to fund the Company’s
business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the
industry, among other factors and risks disclosed in Banco Pine’s filed disclosure documents and are, therefore, subject to change without prior notice.

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