3Q11 Results Conference Call

1. 3Q11
Earnings Conference Call

2. 2/19
Investor Relations| 3Q11 |
Content
3Q11FinancialInformation3Q11Highlights
Page 4ProductandRevenueDiversification
Page 5CreditPortfolio
Page 6CreditPortfolioProfile
Page 7CreditPortfolioQuality
Page 8HedgingDesk
Page 9Funding
Page 10FundingandCreditPortfolioMaturities
Page 11CapitalAdequacyRatio(BIS)
Page 12BalanceSheetStrength
Page 13PINE4
Page 14
OtherHighlightsCapitalIncrease
Page 163Q11EventsandHighlights
Page 17Guidance2011
Page 18

3. 3Q11 Financial Information

4. Investor Relations| 3Q11 | 4/19
3Q11 Highlights
Improvement on the major KPIs in the 3Q11…
(*) Includes debentures
36.1
38.1
2Q11 3Q11
Net Income
(R$ Million)
5.5%
17.3% 17.3%
2Q11 3Q11
ROAE
19.0%
20.1%
2Q11 3Q11
Corporate ROAE
110 bps
39.3
43.9
2Q11 3Q11
Corporate Net Income
(R$ Million)
11.7%
6,249 6,530
Jun-11 Sep-11
Corporate Credit*
(R$ Million)
4.5%
892.7
981.8
Jun-11 Sep-11
Shareholders' Equity
(R$ Million)
10.0%

5. Investor Relations| 3Q11 | 5/19
Product and Revenue Diversification
...with contributions from all business lines, as a result of the strategy of complete service to clients.
Clients with more than one Product Penetration Ratio – Clients with more than one Product
Corporate Income Breakdown
Corporate
Credit
69.4%
Hedging Desk
21.0%
Treasury
5.4%
PINE
Investimentos
4.2%
9M10
Corporate
Credit
65.9%
Hedging Desk
25.3%
Treasury
4.9%
PINE
Investimentos
3.9%
9M11
2.5
2.8
2.9
Sep-09 Sep-10 Sep-11
34%
45%
60%
66%
55%
40%
Sep-09 Sep-10 set/11
More than 1 product 1 product

6. Investor Relations| 3Q11 | 6/19
Credit Portfolio
Credit portfolio evolution remained positive, posting a 4.5% growth in the quarter...
Corporate credit
portfolio grew 24.0%
in 12 months.
Increase of the corporate
loan portfolio, which
represents 98.5% of the total
credit portfolio.
(*) Includes debentures
(**) Includes corporate credit, debentures, remaining payroll-deductible loans and credit acquired from financial institutions
2,284
2,703 2,821 2,792
3,251 3,358 3,132 3,126 3,300
87
176
242 455
629
833
871 902
872
350
511
634
842
827
1,022
1,117
1,372
1,534
695
728
764
705
558
534 601
751
71 746
97
78
Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11
Corporate Credit Breakdown
(R$ Million)
Private Securities*
Trade finance
Bank Guarantees
Onlendings
Working Capital
3,416
4,118
4,462
4,794
5,265
5,747
5,792
6,249
6,530
4,089
4,731
4,960
5,188
5,601
6,016
6,022
6,439
6,654
Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11
Total Credit Portfolio **
(R$ Million)

7. Investor Relations| 3Q11 | 7/19
Credit Portfolio Profile
... growing in a diversified manner, both in sectors and products...
Credit Portfolio by Sector
Geographic Distribution
Credit Portfolio by Product
Working
Capital
51%
Onlendings
13%
Bank
Guarantees
24%
Trade
Finance
11%
Private
Securities*
1%
(*) Includes debentures
Sugar and
Ethanol
17%
Electric and
Renewable
Energy
10%
Infrastructure
8%
Construction
8%
Agriculture
8%
Transportation
and Logistics
6%
Foreign Trade
5%
Meat packing
4%
Specialized
Services
4%
Beverages and
Tobacco
4%
Telecom
3%
Vehicles and
Parts
3%
Metal and Mining
3%
Financial
Institutions
2%
Food Industry
2%
Other
13%
Southeast
75%
South
7%
Northeast
5%
Mid-West
12%
North
1%

8. Investor Relations| 3Q11 | 8/19
Credit Portfolio Quality
Credit Portfolio Quality – September 2011
Total Credit Coverage
Non Performing Loans
Collaterals
... with quality, collaterals and increased credit coverage.
2.1%
1.8%
1.1%
0.5%
0.4%
0.4%
0.7%
0.5%
0.5%
0.3%
0.2%
0.2%
More than 15
days
More than 30
days
More than 60
days
More than 90
days
More than 120
days
More than 180
days
Contracts Overdue
Installments Overdue
1.7%
2.7%
2.9%
Sep-10 Jun-11 Sep-11
120 bps
20 bps
Receivables
35%
Products
Pledge
Investments 43%
4%
Property
Pledge
18%
AA-A
63.0%
B
26.3%
C
6.6%
D-E
1.9%
F-H
2.2%

9. Investor Relations| 3Q11 | 9/19
Hedging Desk
Client Notional Derivatives Portfolio by Market
Market Segments
Client Notional Derivatives Portfolio by Industry
Portfolio Profile
PINE is the 2nd largest provider of commodities for clients*.
Notional: R$3.7 billion
September 30th, 2011
Commodities
10%
Fixed
Income
30%
Currencies
60%
Agriculture
24%
Foreign Trade
18%
Sugar and
Ethanol
17%
Beverages and
Tobacco
8%
Transportation
and Logistics
8% Textile and
Apparel
5%
Metal and Mining
3%
Electric and
Renewable
Energy
3%
Electronics
3%
Infrastructure
2%
Construction
2%
Other
7%
Scenario on September 30th:
Duration: 209 days
MTM: R$178 million
Stress Scenario (Brazilian Real-US Dollar R$2.40 and
Commodities Price: -31%):
MTM Stressed : R$417 million
Fixed Income: Fixed, Floating, Inflation, Libor
Currencies: Dollar, Euro, Yen, Pound, Canadian Dollar,
Australian Dollar, Spot
Commodities: Sugar, Soybean (Grain, Meal and Oil), Corn,
Cotton, Metals, Energy
*Source: Cetip Report of September.

10. 10/19
Investor Relations| 3Q11 |
Funding
Funding is growing with quality and diversity...
Foreign Funding –Multilateral Agencies
US$106.0 Million
A/B Loan (January, 2011)
1,225 1,570 1,566 1,646 1,683 1,564 1,720 1,845 1,965 840 1,123 1,064 1,124 1,432 1,559 1,114 1,287 1,253 89 91 85 175 199 214 218 212 228 63 39 50 36 46 42 41 53 66 85 206 248 201 224 320 272 209 165 87 176 242 453 626 829 867 898 867 527 525 448 405 413 377 435 596 814 529 419 330 249 192 152 125 92 71 225 230 239 227 200 160 282 267 310 108 75 276 203 194 194 185 204 237 72 77 87 151 166 179 188 117 121 Sep-09Dec-09Mar-10Jun-10Sep-10Dec-10Mar-11Jun-11Sep-11Funding Mix (R$ Million) Private PlacementsCapital MarketMultilateral LinesLoan AssignmentsTrade FinanceBNDESInterbank depositsDemand depositsIndividualsCorporate ClientsInstitutional5,3754,8714,6344,5313,8525,5895,4475,7806,098

11. 11/19
Investor Relations| 3Q11 |
Funding and Credit Portfolio Maturities
...posting a 4 months positive gap between credit and funding,
R$ million
Average Maturity
Credit: 14 months
Funding: 18 months
- 2,866 1,798 1,324 458 168 66 1,547 2,129 1,500 604 402 No maturityUp to 3 months (includes Cash) From 3 to 12 monthsFrom 1 to 3 yearsFrom 3 to 5 yearsMore than 5 yearsCreditFunding

12. Investor Relations| 3Q11 | 12/19
Capital Adequacy Ratio (BIS)
... while BIS grew 300 bps versus 2Q11, reaching 19.6% in 3Q11.
The main effects on BIS – September vs. June
Operational Risk Assessment: up 1.4%
Capital increase from DEG: up 0.7%
Local Bond subordination: 0.2%
16.7%
15.1% 14.4% 14.6% 14.8% 13.8% 13.4% 13.2%
15.1%
0.5%
0.5%
0.5% 3.9% 3.6%
3.6% 3.7% 3.4%
4.5%
Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11
BIS
Tier II Tier I
17.2%
15.6%
14.9%
18.5% 18.4%
17.4%
17.1%
11% Minimum
Regulatoty Capital
16.6%
19.6%
R$ thousand BIS Ratio
Tier I 979,938 15(.%1%)
Tier II 295,716 4.5%
Total 1,275,654 19.6%

13. Investor Relations| 3Q11 | 13/19
Balance Sheet Strength
In summary, PINE has buffers of liquidity, capital and credit portfolio coverage...
Capital Cash/Time Deposits
Total Loan Credit Coverage Ratio
40%
43% 42% 42% 41%
Sep-10 Dec-10 Mar-11 Jun-11 Sep-11
1.7%
2.4%
2.7%
2.7%
2.9%
Sep-10 Dec-10 Mar-11 Jun-11 Sep-11
18.4%
17.4%
17.1%
16.6%
19.6%
Sep-10 Dec-10 Mar-11 Jun-11 Sep-11
Regulatoty Capital 11% Minimum Regulatoty Capital

14. Investor Relations| 3Q11 | 14/19
PINE4
Ratios
Trade Volume
Coverage
... positively evaluated by most market analysts, with growing liquidity of shares.
Source: Bloomberg (11/1/2011), but P/BV
(Monthly daily averages in R$ thousand)
*Source: average of the financial institutions that released the Target Price
PINE4 main ratios
Price: R$11.78
P/BV: 1.04
P/E: 7.01
545
1,121
1,100
752
1,035
1,148
969
1,153
1,254
Jan Feb Mar Apr May Jun Jul Aug Sep
Average Target Price *: R$14.80

15. Other Highlights

16. 16/19
Investor Relations| 3Q11 |
3Q11 Events and Highlights
Market Recognition. InAugust2011Standard&Poor’supgradedPINE’sratinginlocalcurrency,frombrA-tobrA,reaffirmedtheratinginforeigncurrencyinBB-/Bandrevisedtheoutlooktopositive. PINEisrankedthe15thlargestbankinCetip’soverallderivativesranking,andthe2ndlargestincommoditieshedgingforclients. AustinRatingupgradedPINE’slong-termratinginJuly2011from‘A’to‘A+’inJuly2011. InSeptember2011,theBoardofDirectorsapprovedthepreferredsharebuybackprogram.

17. 17/19
Investor Relations| 3Q11 |
Capital Increase
DEG, member of KfW Bankengruppe, second largest German bank, concluded on September 9th, the subscription of PINE`s capital of 2.94%. The capital increase of PINE will be the first equity investment by DEG in a Brazilian financial institution. The agreement will expand the capital structure of PINE and collaboration between the two institutions .
Main issues:
Price per share: R$17.20
Total Shares: 2,543,604 preferred shares
Total Amount: R$43,749,988.80 AfterapprovalbytheBrazilianCentralBank,theownershipstructurewillhavethefollowingcomposition:
Base 10/19/11CommonPreferredTotal% Controlling Shareholder45,443,872 14,370,556 59,814,428 69.1% Management- 2,753,446 2,753,446 3.2% Free Float- 24,010,134 24,010,134 27.7% Individuals *- 4,525,343 4,525,343 5.2% Institutional Investors- 9,002,817 9,002,817 10.4% Foreign Investors- 7,938,370 7,938,370 9.2% DEG *- 2,543,604 2,543,604 2.9% Total45,443,872 41,134,136 86,578,008 * The shares related to the capital increase that took place in September are pending approval by the Central Bank.

18. 18/19
Investor Relations| 3Q11 |
Guidance 2011
Maintenance of the guidance released in 4Q10.
Guidance
9M11CorporateCreditPortfolio
20% -25%
13.6% AdministrativeandPersonnelExpenses
5% -10%
11.5% NIM
5.5% -7.5%
6.2% CorporateROAE
17% -20%
17.5%

19. 19/19
Investor Relations| 3Q11 |
Thispresentationcontainsforward-lookingstatementsrelatingtotheprospectsofthebusiness,estimatesforoperatingandfinancialresults,andthoserelatedtogrowthprospectsofPINE.Thesearemerelyprojectionsand,assuch,arebasedexclusivelyontheexpectationsofPINE’smanagementconcerningthefutureofthebusinessanditscontinuedaccesstocapitaltofundtheCompany’sbusinessplan.Suchforward-lookingstatementsdepend,substantially,onchangesinmarketconditions,governmentregulations,competitivepressures,theperformanceoftheBrazilianeconomyandtheindustry, amongotherfactorsandrisksdisclosedinPINE’sfileddisclosuredocumentsandare,therefore,subjecttochangewithoutpriornotice.
Investor Relations
Norberto Zaiet Junior
CFO
Nira Bessler
Head of Investor Relations
Alejandra Hidalgo
Investor Relations Manager
Alexandre Cavalcanti
Investor Relations Manager
Phone: +55-11-3372-5553
www.bancopine.com.br/ir
ir@bancopine.com.br