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2Q12 Institutional Presentation
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- 2. Summary History andProfile PINE History Business Strategy Competitive Landscape Focus on the Client Corporate Credit FICC PINE Investimentos Pillars Rating Upgrades Highlights and Results Corporate Governance and PINE4 Organizational Structure Corporate Governance Committees Dividends and Interest on own Capital Appendix Investor Relations | 2Q12 | 2/34
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- 4. PINE Specialized inproviding financial solutions for wholesale clients… Credit Portfolio by Annual Client Revenues June 30th, 2012 Up to R$ 150 million > R$ 1 billion 17% R$ 150 to R$500 million 56% 12% R$ 500 million to R$ 1 billion Profile 15% Focused on g establishing g long-term p relationships Business is structured along four primary business lines: Profound knowledge and product penetration g p y • Corporate Credit: credit and financing products • FICC: instruments for hedging and risk management •• PINE Investimentos: Investment Banking and Investment Management • Distribution: Funding and investment solutions for foreign and local investors Investor Relations | 2Q12 | 4/34
- 5. History ...with extensiveknowledge of Brazil’s corporate credit cycle. 1939 Pinheiro Family founds End of 2007 August, 2012 Subscription of PINE’s capital 1 by DEG ,Proparco1,Controlling shareholder and management October, 2011 Subscription of PINE’s capital by DEG Banco Central do Nordeste Focus on expanding the Corporate Banking franchise Discontinuation of the payroll-deductible loan business October, 2007 Creation of the Hedging Desk PINE s 827 825 867 1,015 1,053 1975 Noberto Pinheiro May, 2007 Creation of PINE Investimentos product line and start up of Cayman branch 2005 Noberto Pinheiro becomes 801 becomes one of BMC’s controlling shareholders PINE’s sole shareholder Corporate Credit Portfolio (R$ Millions) Shareholders' Equity (R$ Millions) 4 181 5,747 6,921 7,478 209 335 1997 q y( $ ) 155 184 222 341 521 620 755 663 761 1,214 2,854 3,070 4,181 18 62 121 126 140 136 152 171 Noberto and Nelson Pinheiro sell their stake in BMC and found PINE Dec-97 Dec-98 Dec-99 Dec-00 Dec-01 Dec-02 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Asian Russian Devaluation Nasdaq Sept. 11 Brazilian Subprime European Jun-12 Crisis Crisis Community March, 2007 May, 2012 1 Subject to precedent conditions and final negotiations IPO 15 years of the real Elections (Lula) Investor Relations | 2Q12 | 5/34
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- 7. Competitive Landscape PINEserves a niche market of companies that lack adequate banking options, seeking a bank that fully understands their needs. Market Consolidation of the banking sector has Large Multi-Services banks decreased the supply of credit lines and financial instruments for corporates Foreign banks are in a deleveraging process 100% Corporate g g gp PINE 100% focused on providing complete service to companies, offering customized products . Corporate & SME Full service Bank – Credit, Hedging, and Investment Bank products – with room for growth Foreign and Investment Banks SME & Retail ~10 clients per officer Competitive Advantages: Focus Retail Fast response: Strong relationship with clients, with the credit committee meeting twice a week and response times to clients of no more than one week S i li d i Specialized services Tailor-made solutions Product diversity Investor Relations | 2Q12 | 7/34
- 8. Focus Always onthe Client The bank develops a strategy of product diversity, tailored to meet the needs of each client. CDIs CDs LCIs CCBs Private Pricing of Assets and Liabilities Fixed Income Currencies CDBs RDBs LCAs Eurobonds Placements Financial Letters Local Currency Liquidity Management Working Capital Overdraft Commodities Equities CRIs Debentures Foreign Currency Distribution Treasury Trading Working Capital Underwriting Accounts BNDES Onlending Bank Guarantees Compror ACC/ACE Clients Corporate Credit PINE Investimentos Capital Markets Advisory Local Currency Onlending Foreign Currency Trade Finance g Advisory Private Placements Investment Management Bank Guarantees Fixed Income Export Finance Finimp Letters of Credit 2,770 onlending FICC Fixed Income Currencies Credit Funds Structured/ Project Finance Structured/ Project Finance Structured Finance Funds Portfolio Management Swap NDFs Structured Swaps Syndicated and Commodities Structured Loans Options Investor Relations | 2Q12 | 8/34
- 9. Corporate Credit Strongtrack record and solid credit origination and approval process. Actions Credit Committee Personalized, agile service, working closely with clients and keeping a low client to account officer ratio: each officer handles ~10 economic groups on average. q Meets twice a week – reviewing 20 proposals on average Minimum quorum: 4 members - attendance of CEO or Chairman is mandatory Members: Chairman of the Board Geographic coverage of clients, providing the bank with local and extremely up-to-date credit intelligence and information. CEO Chief Operations Officer Chief Administrative Officer Chief Risk Officer Established long term relationships with more than 600 economic groups Origination network is comprised of 11 branches divided into 14 origination platforms in Brazil’s major economic centers Participants: FICC Executive Director Credit Analysts More than 30 credit analysts, assuring that analysis is fundamentally driven and based on industry-specific intelligence Other members of the Corporate Banking origination team Efficient loan and collateral processes, documentation, and controls, which has resulted in a low NPL track record pp Credit Approval: Electronic Process Origination Officers Credit Analysts Credit origination analysis clients Regional Heads of Origination and Credit Analysis CRO, Executive Directors and Analysts of Credit Presentation to the Credit Committee CREDIT COMMITTEE Centralized and unanimous Discussion on sizing sizing, collateral collateral, Credit analysis, visit to clients, data updates, interaction with internal research team decision making process structure, etc. Investor Relations | 2Q12 | 9/34
- 10. FICC PINE isthe 1st player in terms of OTC commodities NDF for clients¹… Client Notional Derivatives Portfolio by Market Notional Value and MtM June 30th, 2012 597 Notional Value MtM Stressed MtM R$ millions Fixed Income 24% Currency 60% 256 224 358 354 354 Commodities 84 178 157 126 16% 3,457 3,709 3,712 4,287 4,720 , , , , , Jun-11 Sept-11 Dec-11 Mar-12 Jun-12 Market Segments Portfolio Profile Fixed Income: Fixed Floating Inflation Libor Scenario on June June, 30th: Duration: 249 days Mark-To-Market: R$256 million Fixed, Floating, Inflation, Currencies: Dollar, Euro, Yen, Pound, Canadian Dollar, Australian Dollar Stress Scenario (Dollar: +31% and Commodities Prices: -30%): Stressed MTM: R$597 million Commodities: Sugar, Soybean (Grain, Meal and Oil), Corn, Cotton, Metals, Energy 1Source: Cetip Report, June 2012 Investor Relations | 2Q12 | 10/34
- 11. PINE Investimentos …and #10th in Debt Capital Markets1 in Brazil. Volume of Underwriting Transactions Revenues R$ Millions R$ Millions 381 317 346 16 18 12 2Q11 1Q12 2Q12 2Q11 1Q12 2Q12 Selected Transactions R$540,000,000 M&A R$115,000,000 Project Finance R$25,000,000 Certificate of Real Estate Receivables R$100,000,000 Promissory Notes (ICVM 476) R$67,000,000 Promissory Notes (ICVM 476) Exclusive Advisor Exclusive Advisor Coordinator Coordinator Coordinator March, 2012 May, 2012 May, 2012 May, 2012 June, 2012 1Source: Anbima Investor Relations | 2Q12 | 11/34
- 12. Distribution Investment alternativesin local and foreign currency to domestic and foreign investors. Actions Funding Responsible for serving investors, offering traditional investments and also alternatives tied to the credit origination platform capital markets and asset 5 902 6,933 +50% +17% R$ Millions platform, markets, management. It counts on PINE’s expertise in structuring and intermediating fixed income transactions. 986 1,152 1,736 4,622 5,902 International g Divided by type of investors to provide tailor made solutions. 3,636 4,750 5,197 Local Family Offices Jun-10 Jun-11 Jun-12 Investors Market Segments Local Currency T diti li t t (l ld it h CDB/RDB/CDI Individuals Corporates Asset Managers Traditional investments local deposits such as CDI, LCA/LCI) Senior and subordinated local notes Debt Capital Markets (CCBs, Debentures, FIDCs, CRIs, CRAs, CDCAs, among others) Financial Institutions Pension Funds Foreign Investors Foreign Currency Time Deposits and CD – Certificate of Deposit Senior and Subordinated bonds issued by PINE Debt Capital Markets (CCB, Credit Fund, Bonds) – through Credit Linked Notes Investor Relations | 2Q12 | 12/34
- 13. Pillars Strategy supportedby solid fundamentals, built and achieved over the years… Adequate capital structure Strong and motivated team Meritocracy Right incentives Highly qualified team Capital Adequacy Ratio (BIS) of 15.9% Regulatory Capital: R$1.3 billion Capital increase announced and closer partnerships with DEG and Proparco will raise BIS to 17.5% Corporate clients Strong relationship Efficient funding structure g p Longer average maturities: 16 months Jun/12) Customized service In-depth knowledge of client needs Product diversity g g ( ) Greater diversification of funding sources USD25 million 10 year funding with Proparco USD106 million A/B Loan (Jan/11) with the IIC Investor Relations | 2Q12 | 13/34
- 14. Rating Upgrades ...withmarket recognition and positive evaluation by rating agencies. On December 7th, 2011: PINE’s rating in global scale, to BB+ from BB- (two notches) On May 14th, 2012 Foreign and Local Currency Long- Term IDR to 'BB' from 'BB'- On August 23rd, 2012: PINE’s outlook upgraded to Positive PINE’s rating in national scale, to brAA from brA (three notches) On August 23rd, 2011: Local currency rating, to brA from National Long-Term Rating to 'A+(bra)' from 'A(bra)' Viability rating upgraded to 'bb' from 'bb-' Banco Pine S.A. USD 125 million brA-Reaffirmed the Rating in foreign currency in BB-Revision from PINE’s outlook to positive Subordinated notes to 'B+' from 'B' Fitch attributed this upgrade to the diversification of PINE's funding profile and its good assets and liabilities management, provided by the adequate match of the credit and funding books In addition the Agency The agency based its ratings on the strong asset-quality, adequate liquidity, capital, and earnings. S&P also emphasizes the gradual funding diversification, through foreign issuances securitizations and the recent Moody's explained that the positive outlook reflects PINE’s profitability through a well-executed strategy, and which has ensured earnings recurrence. The rating action also books. addition, captures the bank's improved funding considered that the positive liquidity gap allied with the good cash position evidences the Bank's overall solid financial strength. According to the Agency, the Bank’s continued increase in fee income, mainly due to higher issuances, securitizations, capital increase subscribed by DEG. bank s diversification, well managed asset quality metrics and its good liquidity and capital management. product penetration, is a good indicator of the successful maintenance of profitability levels. Investor Relations | 2Q12 | 14/34
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- 16. 2Q12 Events andHighlights Capital increase of approximately R$155.0 million. The increase will take place starting with the execution, on this date, of a subscription agreement with DEG in the amount of R$30.0 million coupled with an investment of R$93.7 million by the controlling shareholder and R$7.2 million by PINE’s management. In addition, the French agency Proparco approved the principle of an investment amounting up to €10 million. These transactions will increase the BIS Ratio to 17.5%, an improvement of approximately 160 bps. All transactions are subject to regulatory approvals and other precedent conditions as announced in the Material Fact released today. In April, PINE carried out its first offering of financial bills known as Letras Financeiras, issuing R$313.2 million in two-year notes. Highly liquid balance sheet with a strong cash position of R$1.4 billion, which corresponds to 38% of time deposits. Positive liquid gap between the credit and funding portfolios of 3 months: 13 months for credit and 16 months for funding. PINE has maintained this positive gap for over 2 years. Positive contributions from all business lines in the quarter: 58.4% from Corporate Credit, 19.8% from FICC, 11.5% from the Treasury, and PINE Investimentos contributed 10.3%, demonstrating recurrence in its results. Ranked amongst the 15 largest banks in the Cetip derivatives ranking and 1st in terms of OTC commodities NDF for clients. 9th largest bank in Brazil offering credit to large corporates, 15th in credit to companies, and 5th in wealth generated per employee, according to the “Melhores e Maiores” ranking compiled by Exame magazine. Investor Relations | 2Q12 | 16/34
- 17. Capital Increase PINEis honored with DEG’s trust and partnership with the announcement of another transaction and welcomes Proparco. The second equity investment by DEG in a Brazilian financial institution, both with PINE, and the first by Proparco in a Latin America financial institution. In addition to the subscription made by DEG, of R$30.0 million, and by Proparco, of R$25.0 million, the capital increase also includes the participation of the controlling shareholder and the senior management, for a total of R$100.8 million. Summary Total of ~R$155 million Premium on Shares: 15% over the average price of the last 60 days Total Shares: 6,558,123 common shares and 4,352,590 preferred shares BIS Ratio: to 17 5% 17.5%, 14 5% 14.5% for Tier I and 3 0% 3.0% for Tier II The aforementioned transactions further strengthen the capital structure of PINE as well as the relationships with DEG and Proparco, and will allow the Bank to continue to expand its activities in a sustainable manner. After approval by the Brazilian Central Bank Bank, the ownership structure will have the following composition: With Capital increase Common Preferred Total % Controlling Shareholder 58,444,889 15,595,863 74,040,752 67.5% Management - 5,591,947 5,591,947 5.1% Free Float - 30,005,788 30,005,788 27.3% DEG - 5,005,068 5,005,068 4.6% Proparco - 1,750,700 1,750,700 1.6% Individuals - 3,382,393 3,382,393 3.1% Local Institutional Investors - 11,054,997 11,054,997 10.1% F i I t 8 812 630 8 812 630 8 0% Foreign Investors - 8,812,630 8,812,630 8.0% Treasury - 125,000 125,000 0.1% Total 58,444,889 51,318,598 109,763,487 100% Investor Relations | 2Q12 | 17/34
- 18. 2Q12 Financial Highlights The main performance indicators continued to show positive development in the period… R$ Millions Loan Portfolio¹ 18.6% Total Funding 17.5% Shareholders’ Equity 17.9% 6,305 7,478 5,902 6,933 893 1,053 Jun 11 12 , , -Jun -Jun -11 Jun -12 Jun -11 Jun -12 Net Income ROAE 140 bps Credit Coverage 27.8% 130 bps 36 46 17.3% 18.7% 2.7% 4.0% Jun-11 Jun-12 2Q11 2Q12 2Q11 2Q12 ¹ Includes debentures, CRIs, eurobonds and hedge fund shares Investor Relations | 2Q12 | 18/34
- 19. Product and RevenueDiversification ...with contributions from all business lines, fruits of the strategy of complete service to clients. Clients with more than one Product Penetration Ratio – Clients with more than one Product 2.9 More than 1 product 1 product 44% 38% 60% 2.8 2.6 40% 56% 62% Revenue Mix Jun-10 Jun-11 Jun -12 Jun-10 Jun-11 Jun-12 1H11 1H12 Corporate Credit 63 5% PINE Investimentos 5.5% PINE Investimentos 10.3% 63.5% Treasury 3.3% Corporate Credit 58.4% Treasury 11.5% FICC 27.7% FICC 19.8% Investor Relations | 2Q12 | 19/34
- 20. Loan Portfolio1 Theportfolio continued to grow, +2.4% QoQ and +18.6% YoY… R$ millions 1,154 T d Trade fi finance 1,021 6,732 6,935 7,300 7,478 772 756 782 533 622 1 684 1 599 5,277 5,760 5,823 6,305 , 827 821 881 883 883 1,022 1,117 1,372 1,534 1,687 1,684 1,599 704 555 Guarantes Onlending BNDES 4,811 - - - 71 122 251 297 342 572 472 644 846 881 912 842 Private Securities 2,792 3,251 3,358 3,132 3,126 3,300 3,286 3,370 3,332 Working Capital Jun-10 Set-10 Dez-10 Mar-11 Jun-11 Set-11 Dez-11 Mar-12 Jun-12 ¹ Includes debentures, CRIs, eurobonds and hedge fund shares Investor Relations | 2Q12 | 20/34
- 21. Loan Portfolio Profile ... in a diversified manner... Loan Portfolio by Industry Segments Geographic Distribution Midwest 1%1 North 1% Sugar and Ethanol; 19% Meatpacking; 2% Financial Institutions; 2% Telecom 2% Others; 9% Northeast 7% Chemicals; 3% Food Industry; 3% Metal and Mining; 3% Construction Southeast 73% South 8% 10% Electric and g Beverages and Tobacco; 4% Vehicles and Parts; 4% S ili d S i Renewable Energy; 9% Agriculture; 9% Infrastructure; 7% Specialized Services; Transportation and Logistics; 5% Foreign Trade; 5% 4% Investor Relations | 2Q12 | 21/34
- 22. Loan Portfolio Quality ... with quality, collaterals, and adequate credit coverage. Loan Portfolio Quality Non Performing Loans > 90 days 0.7% 0.7% Contracts Overdue Installments Overdue B 36.9% June 30th, 2012 0.5% 0.5% 0.6% 0 3% 0 3% 0 3% C 10.9% 0.3% 0.2% 0.3% 0.3% 0.2% D-E 1.8% F-H Jun-11 Sept-11 Dec-11 Mar-12 Jun-12 Credit Coverage Collaterals AA-A 48.1% 2.3% Products Pledge Guarantees 46% 2% +130 bps +40 bps Investments 3% 2.7% 3.6% 4.0% Receivables 26% Properties Pledge 23% Jun -11 Mar-12 Jun-12 Investor Relations | 2Q12 | 22/34
- 23. Funding Diverse sourcesof funding… R$ millions Trade Finance 250 234 118 596 814 753 841 1,089 Private Placements Multilateral Lines 5 437 5,902 6,248 6,544 6,421 6,933 194 21 185 33 205 237 246 233 295 247 256 281 291 553 194 - 829 898 867 867 868 813 227 200 160 282 267 310 353 276 151 166 158 155 84 86 125 405 413 377 435 International Capital Markets Local Capital Markets 5,437 5,182 4,622 5,322 198 214 218 1,287 1,253 1,196 1,186 1,228 175 1 463 1 530 1 114 212 228 250 281 223 201 224 320 272 210 165 106 161 194 36 46 42 41 53 66 112 31 33 453 626 867 20-3 BNDES Demand Deposits b k i D i 1,124 1,463 1,530 1,114 , 1,646 1,654 1,592 1,720 1,845 1,965 2,130 2,128 2,153 Interbank Time Deposits High Net Worth Individual Time Deposits , , Corporate Time Deposits Jun-10 Sept-10 xDec-10 Mar-11 Jun-11 Sept-11 xDec-11 Mar-12 Jun-12 Institutional Time Deposits Investor Relations | 2Q12 | 23/34
- 24. Asset & LiabilityManagement ... presenting a positive gap of 3 months between the credit and funding portfolios. Matching of Transactions CREDIT FUNDING 82% 80% 76% 81% 76% Loan / Total Funding BNDES BNDES Trade Finance Trade Finance Deposits Working Capital, Private Securities1 And Cash Local & International Capital Markets Private Placements/ Multilateral Jun-11 Sept-11 Dec-11 Mar-12 Jun-12 ALM Deposits vs. Total Funding 5,902 6,421 6,933 / Lines 1 Includes debentures, CRIs, eurobonds, and hedge fund shares R$ Millions R$ Millions 39% 41% 45% Others , 3,124 1,921 2,344 1,590 1,642 1,775 Credit Funding 61% 59% 55% Total Deposits - 402 1,056 33 94 135 Jun-11 Mar-12 Jun-12 No maturity Up to 3 months (includes Cash) From 3 to 12 months From 1 to 3 years From 3 to 5 years More than 5 years Investor Relations | 2Q12 | 24/34
- 25. Capital Adequacy Ratio(BIS) BIS ratio reached 15.9%. Tier II Tier I Minimum Capital Requirement (11%) 3.9% 3.6% 3 6% 4.5% 4.2% 18.5% 18.4% 17.4% 17.1% 18.5% 19.6% 16.6% 16.4% 15.9% 17.5% 3.6% 3.7% 3.4% 3.1% 3.3% 3.0% 14.6% 14.8% 13.8% 13.4% 13.2% 15.1% 14.3% 13.3% 12.6% 14.5% Jun -10 Sept-10 Dec -10 Mar -11 Jun -11 Sept-11 Dec -11 Mar-12 Jun -12 With Capital Increase R$ million BIS Ratio (%) Tier I 1,055 12.6% Tier II 277 3.3% Total 1,331 15.9% Investor Relations | 2Q12 | 25/34
- 26. Guidance for 2012 PINE is ready to continue growing with its clients, and reaffirms its guidance for 2012. Guidance Expanded Corporate Credit Portfolio 17% - 22% Personnel and Administrative Expenses 8% - 12% NIM 5.5% - 7.5% ROAE 17% - 20% Investor Relations | 2Q12 | 26/34
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- 28. Management Structure Non-bureaucratic,entrepreneurial, and meritocratic culture with a flat hierarchy, speeding the decision making process. BOARD Noberto Pinheiro Noberto Pinheiro Jr Maurizio Mauro Gustavo Junqueira Mailson da Nóbrega Antonio Hermann Chairman Vice Chairman Independent Member External Member Independent Member Independent Member INTERNAL EXTERNAL AUDIT AUDIT COMPENSATION AUDIT COMMITTEE Tikara Yoneya COMMITTEE PWC CEO Noberto Pinheiro Jr HUMAN RESOURCES Sidney Vilhena COO Norberto Zaiet CRO Gabriela Chiste CAO Ulisses Alcantarilla CFO Susana Waldeck Origination Investment Banking Sales & Trading Asset & Liabilities Back Office Legal Controlling Accounting Tax Planning Credit and F.I. Research Compliance & Internal g Controls Research Macro / Commodities International Collaterals Management Special Situations Middle Office g IT Accounts Payable Office Management Marketing Investor Relations Market and Liquidity Risks Investor Relations | 2Q12 | 28/34
- 29. Corporate Governance PINEcommits to best corporate governance practices… Three independent members and one external member on the Board of Directors Mailson Ferreira da Nóbrega: Brazil’s Finance Minister from 1988 to 1990 Maurizio Mauro: Former CEO of Booz Allen Hamilton and Grupo Abril Antonio Hermann: Former CEO of Banco Itamarati, Director at FEBRABAN and elected Director of Brazilian Banking Association Gustavo Junqueira: Former Head of PINE Investimentos, Member of the Board of Directors at EZTEC, Financial Advisor at Arsenal Investimentos and CFO at Gradiente Eletrônica São Paulo Stock Exchange (BM&FBovespa) Level 2 Corporate Governance Audit and Compensation Committee reporting directly to the Board of Directors 100% tag along rights for all shareholders, including non-voting shares Arbitration procedures for fast settlement of litigation cases First Brazilian bank to release BR GAAP and IFRS quarterly Investor Relations | 2Q12 | 29/34
- 30. Committees …favoring collectivedecision making. Main decisions are taken by committees: Board of Directors and a structure of specific committees Non-stop exchange of knowledge, ideas, and information Transparency 45 days BOARD OF DIRECTORS RISK COMMITTEE AUDIT COMMITTEE COMPENSATION COMMITTEE 45 days Bi-annually Monthly CEO COMMITTEES INVESTMENT EXECUTIVE CREDIT LITIGATION TREASURY COMMITTEE ALCO HUMAN RESOURCES BANK INTERNAL PERFORMANCE EVALUATION IT ETHICS CONTROLS AND COMPLIANCE Monthly Twice a week Weekly Weekly Bi-monthly Every 2 months Monthly 45 days Quarterly On demand Investor Relations | 2Q12 | 30/34
- 31. Dividends and Intereston Own Capital PINE has delivered an attractive dividend yield paying dividends/interest on own capital on a quarterly basis. 55 45 40 40 25 25 33 30 35 35 16 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 Investor Relations | 2Q12 | 31/34
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- 33. Social Investment andResponsibility PINE supports and promotes the Brazilian culture and sports Social Instituto Alfabetização Solidária Culture Paulo von Poser: exhibit of the painter Paulo von Poser, who is one of Brazil’s most prominent artists Instituto Casa da Providência Quebrando o Tabu: documentary based on the analysis from the former President of Brazil, Fernando Henrique Cardoso, on the fight against drugs Além da Estrada: motion picture, which received the award for best in the 2010 Sports Minas Tênis Clube: training program for athletes director Rio Festival Responsible Credit “Li fE i ” h B kd fi Most Green Bank 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. Recognized by the International Finance Corporation (IFC), private agency programs of the World Bank as the most "green" bank as a result of its transactions under the Global Trade Finance Program (GTFP) and its on lending to companies focused on renewable energy and ethanol. Investor Relations | 2Q12 | 33/34
- 34. Investor Relations NobertoPinheiro Jr. CEO Susana Waldeck Norberto Zaiet Jr. CFO COO Raquel Varela Head of Investor Relations Alejandra Hidalgo Investor Relations Manager Phone: +55-11-3372-5343 ir.pine.com.br ir@pine.com.br This presentation contains forward-looking statements related to business prospects, estimates for operating and financial results, and estimates related to prospects for growth at 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, and 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. Investor Relations | 2Q12 | 34/34