2Q09 Results Conference Call

Investor Relations | 2Q09 Earnings 2/20
Content
 Highlights 3
 Balance Sheet 4
 Results 5
 Financial Margin 6
 Loan Portfolio – Total 7
 Loan Portfolio - Corporate 8
 Loan Portfolio – Corporate 11
 Loan Portfolio - Individuals 12
 Loan Portfolio Quality 13
 NPL – Historical Data 14
 Funding 15
 Funding X Credit + Cash Position 16
 Efficiency Ratio 17
 Dividends 18
 Shares 19
 Investor Relations 20

Highlights
In light of the gradual improvement in the economic scenario, Banco PINE expanded its loan
portfolio and deposits.
2.7%
3.0%
Mar-09 Jun-09
LOAN PORTFOLIO COVERAGE
30 bps
30,842
34,502
1Q09 2Q09
OPERATING INCOME (R$ Thousand)
11.9%
1,553
1,917
Mar-09 Jun-09
TOTAL DEPOSITS (R$ Million)
23.5%
2,842
3,068
Mar-09 Jun-09
CORPORATE PORTFOLIO GROWTH
(R$ Million)
8.0%

Balance Sheet
Onbook loan portfolio increased 6.6% in the quarter.
R$ million
Jun-09 Mar-09 Jun-08
Assets 6,275 5,537 5,911
Securities and derivative financial instruments 2,791 2,344 1,903
Lending operations 2,951 2,769 3,497
(-) Allowance for loan losses (107) (97) (73)
Net lending operations 2,844 2,672 3,424
Other 640 521 584
Liabilities 5,464 4,718 5,077
Deposits 1,849 1,520 2,346
Money market funding 1,915 1,483 1,319
Funds from acceptance and securities issued 769 855 432
Other 931 860 980
Shareholders' equity 811 819 834
Liabilities and Shareholders' equity 6,275 5,537 5,911

Results
The Net Income increased 8.6% and the Operating Income increased 11.9% in the quarter.
R$ thousand
2Q09 1Q09 2Q08
Gross income from financial intermediation 43,922 68,970 104,646
Fee Income 29,498 11,341 6,143
Personnel and Administrative Expenses (30,021) (29,756) (36,737)
Commissions (1,050) (1,530) (18,464)
Tax Expenses (7,716) (6,136) (8,449)
Other Operating (expenses) income (131) (12,047) 154
Operating Income 34,502 30,842 47,293
Non-operating income 886 1,317 2,537
Income before taxes 35,388 32,159 49,830
Income and social contribution taxes (9,056) (8,689) (2,354)
Profit Sharing (4,532) (3,400) (3,596)
Net Income 21,800 20,070 43,880
Annualized ROAE 11.1% 10.1% 23.1%

Financial Margin
Financial Margin in 2Q09 would be 150 bps higher than the figure delivered excluding early
settlements in the payroll loan business.
Main factors impacting 2Q09 financial margin:
• Deleveraging of the loan portfolio in 1H09, due to the international financial crisis;
• Focus on large companies in 2Q09;
• No payroll loan assignments;
• Absorption of early settlements in the payroll loan business;
• Reduced interest rates in the quarter, affecting the return on free capital.
2Q09 1H09
Margin before provision for
loan losses (excluding repo) 7.0% 7.8%

Loan Portfolio - Total
Increase of the corporate loan portfolio share in the total portfolio.
Breakdown
30% 27% 22%
70% 73% 78%
Corporate
Individuals

Loan Portfolio - Corporate
Focus on Corporate operations.
Mix of Loan Portfolio by Product
R$ million
2,677
1,761
1,940
Working Capital
10%
-28%
D Quarter D Year
425
809 836
431
272
292
Onlendings, Financing in Foreign Currency and ACC Guarantees
856
1,081
1,128
4%
7%
32%
3%
-32%
97%
D Quarter D Year

83% of the companies served by Banco PINE earn revenue of more than R$150 million.
Companies Annual Revenues
Over R$ 1
billion
30%
R$ 500
million to R$
1 billion
22%
R$ 150
million to R$
500 million
29%
Up to R$
150 million
19%
Mar-09
Over R$ 1
billion
35%
R$ 500
million to R$
1 billion
28%
R$ 150
million to R$
500 million
20%
Up to R$
150 million
17%
Jun-09

Banco PINE offers a complete range of loan products in both local and foreign currency. 125% of
the corporate loan portfolio is covered by guarantees.
Loan Portfolio by Product Guarantees
Receivables
33%
Product
Fiduciary
Alienation
22% Investments
11%
Property
Fiduciary
Alienation
12%
Promissory
Notes
17%
Payroll
5%
Working Capital
63% FX
14%
Financing in Foreing
Currency
9%
Onlendings (Instr.
2770)
1%
Guarantees
10%
BNDES Onlendings
2%
Other
1%

Well-diversified Loan Portfolio.
Loan Portfolio by Industry
Infrastructure
18%
Sugar and
Alcohol
18%
Vehicles and
Autoparts
10%
Services
8% Agriculture
5%
Energy
6%
Financial
Institutions
6%
Construction
5%
Logistics
3%
Construction
and
Decoration
Material
2%
Meat Processing
Siderurgy 3%
2%
Metallurgy
2%
Other
12%
Mar-09
Infrastructure
16%
Sugar and
Alcohol
16%
Vehicles and
Autoparts
10%
Services
8%
Agriculture
7% Energy
7% Financial
Institutions
5%
Construction
5%
Logistics
2%
Construction
and
Decoration
Material
2%
Meat
Processing
Siderurgy 2%
2%
Metallurgy
2%
Other
16%
Jun-09

Loan Portfolio - Individuals
Reduction of the payroll loan portfolio since the end of 2007.
Payroll Loan Portfolio Origination vs. Assignment
R$ million
127
21
3 - -
116
19
80
6
-
2Q08 3Q08 4Q08 1Q09 2Q09
Origination Assignment
1,120
832
679
244
93
79
151
106
96
Off book Own portfolio Third parties portfolio
1,515
1,031
854
-17%
-44%
-18%
-39%
D Quarter D Year
-15%
-68%
-10%
-37%

Loan Portfolio Quality
Strict quality control of the loan portfolio. The coverage of the D-H overdue portfolio was 176.6%
in June.
AA-C;
96.8%
D-H;
3.2%
Mar-09
AA-C;
96.2%
D-H;
3.8%
Jun-09
AA,
20.6%
A, 43.5%
B, 29.1%
C, 3.0%
D-E,
1.2%
F-H,
2.6%

NPL Historical Data
Banco PINE’s Non-Performing Loans stood below 2%, despite the uncertain scenario.
Overdue D-H portfolio/Total Portfolio
0.00%
1.95%
0.30%
0.91%
0.11%
0.65%
0.96% 1.00%
0.60%
0.90%
1.69%
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Jun/09
Nasdaq WTC Global
Financial
Crisis
Banco Santos
Liquidity Crisis
Brazilian
Elections
Real
Devaluation

Funding
Average funding maturity in 2Q09 was 11 months.
R$ million
1,967
1,334
1,756
Time Deposits + Agribusiness Letter of Credit
32%
-11%
D Quarter D Year
Jun-09 Mar-09 Jun-08 D Quarter
Deposits 1,917 1,553 2,354  23.5%
Trade Finance / Cayman 642 712 288  -9.9%
Funds from Acceptance and Securities Issued 306 382 467  -19.7%
Borrowings and Onlendings 128 143 144  -10.8%
Loan assignments 679 832 1,119  -18.4%
Total 3,672 3,622 4,372  1.4%
1,967
1,334
1,756
7%
-18%
D Tri D Ano

Funding vs. Credit and Cash Position
The maturities of funding and credit are aligned.
(1) It does not consider Shareholders Equity
Up to 3
months
(includes
Cash)
29.7%
3 to 12
months
39.2%
1 to 3 years
29.9%
3 to 5 years
1.2%
Credit + Cash
With no
Maturity
2.0%
Up to 3
months
19.9%
3 to 12
months
42.0%
1 to 3 years
26.6%
3 to 5 years
7.2%
Over 5 years
2.3%
Funding(1)

Efficiency Ratio
The Efficiency Ratio in 2Q09 was 44.8%, better than 1Q09 and 2Q08 ratios.
48.6%
44.8%
1Q09 2Q09
-380 bps

Dividends
In 1H09, the total amount of R$45.0 million in interest on own capital and dividends were paid to
shareholders.
R$ million
24.6
45.0
1H08 1H09
82.9%
R$ Million R$
Gross Amount Total Amount Value per Share
1st Quarter 2009 25.0 0.2955
2nd Quarter 2009 20.0 0.2391
Total 1H09 distributed 45.0 0.5346

Shares
The Price/Book Value ratio ended June at 0.86X.
12/30/08 1/29/09 2/28/09 3/30/09 4/29/09 5/29/09 6/28/09
IBOVESPA
PINE4 143%
37%

Investor Relations
Clive Botelho
CFO
Fone: +55-11-3372-5553
www.bancopine.com.br/ir
ri@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.

2Q09 Results Conference Call

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2Q09 Results Conference Call