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2010 Investors' Meeting Presentation - São Paulo

Banco PINE held a presentation covering its 2Q10 results and business strategy. The summary highlights strong income growth in recent quarters driven by selective credit expansion and cross-selling. Banco PINE maintains a diversified funding base and comfortable capital ratios. Its consistent strategy is to provide a full range of financial products and services to mid-sized corporations with an emphasis on customized solutions and rapid credit decisions.

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Banco PINE specializes in the corporate sector, offering its clients a complete range of financial products and services August - 2010
Banco PINE 2Q10 Presentation
Agenda Highlights and Results Business Strategy Business Opportunities Cross-Selling Opportunities Agility in Granting Credit Organizational Structure Human Resources The Current Scenario and Future Prospects Corporate Governance and Shares Corporate Governance Main Committees Shareholders’ Structure Shareholders’ Profile Dividends Social Responsibility Rating upgrade by Fitch Events and Highlights of the Period Banco PINE Investor Relations | August - 2010 3/32
Highlights and Results
Highlights Main indicators improvement: profitability, credit and funding Operating Income (R$ Million) Δ 12M Δ Quarter 75.2% 26.2% Δ 6M 65.8% Net Income (R$ Million) Δ 12M Δ Quarter 63.3% 18.0% Δ 6M 57.1% Corporate Loan Portfolio (R$ Million) Δ 12M Δ 6M Δ Quarter 108 3 65.8 56.3% 16.4% 7.5% 34.5 47.9 60.4 65.3 108.3 21.8 30.2 35.6 41.9 2Q09 1Q10 2Q10 1H09 1H10 3,068 3,416 4,118 4,462 4,794 J 09 S 09 D 09 M 10 J 10 2Q09 1Q10 2Q10 1H09 1H10 ROAE Efficiency Ratio Jun-Sep-Dec-Mar-Jun-Total Deposits+ Agribusiness Letter of Credit (R$ Million) Δ 12M Δ Quarter -650 bps -600 bps Δ 6M -310 bps Δ 12M Δ Quarter 680 bps 260 bps Δ 6M 580 bps Δ 12M Δ 6M Δ Tri 66.0% 5.1% 5.6% 40.0% 39.5% 33 5% 39.3% 15.3% 17.9% 11.1% 36.2% 10.5% 16.3% 1,917 2,302 3,029 3,013 3,183 33.5% Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 2Q09 1Q10 2Q10 1H09 1H10 2Q09 1Q10 2Q10 1H09 1H10 Investor Relations | August - 2010 5/32
Earnings Consistent income growth in the last quarters, as a result of selective credit portfolio increase and cross-selling strategy ROAE Even during the global financial crisis, ROAE maintained a minimum of 10% 7.1% 3% 7.9% % 6.3% 260 bps increase in the quarter 17 9.9% 10.1% 11.1% 11.3% 10.7% 15. 1 13.2% 10.5% 10.8% 16 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 2H08 1H09 2H09 1H10 Net Income (R$ Thousand) 76 Gradual and consistent income growth in post-crisis period Net Income 18% up in the quarter 33,429 ,821 ,070 ,800 ,068 ,148 30,171 35,605 53,250 41,870 43,216 65,77 19, 20, 21 22 21, 3 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 2H08 1H09 2H09 1H10 Investor Relations | August - 2010 6/32
Loan Portfolio Positive development of the loan portfolio Corporate Loan (R$ Million) Corporate loan portfolio grew 7.5% in 2Q10 and 56.3% in 12 months 8 462 ,794 3,533 3,534 3,070 2,842 3,068 3,416 4,11 4,4 4, Total Credit (R$ Million) Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Increase of the corporate loan portfolio, which represented 72% of 047 85 4 53 980 208 the total loan portfolio in June 2008 and now is responsible for 94% of the total 5,0 4,8 4,264 3,873 3,922 4,113 4,75 4,9 5,2 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Investor Relations | August - 2010 7/32
Loan Portfolio Profile Banco PINE operates in the major sectors of the economy, with product diversity and regional distribution that mirrors the GDP’s Loan Portfolio by Region GDP s South 12% Loan Portfolio by Sector Northeast 10% A i l Construction 7% Financial Institutions Meat packing Southeast 66% Mid-West 10% Northeast 2% Electric and Renewable Energy Agriculture 8% 6% 5% Vehicles and Parts 5% Loan Portfolio by Product Working Capital 11% Transportation and Logistics 4% Pharmaceutical 58% BNDES onlendings 9% Resolution 2770 1% Infrastructure 13% and Cosmetic 3% Foreign Trade 3% Metallurgy 3% Trade Finance 14% Sugar and Ethanol 15% Specialized Services 2% Foodstuffs 2% Healthcare 2% Other 11% Guarantees 18% Investor Relations | August - 2010 8/32
Loan Portfolio Quality The coverage of the overdue portfolio reached 214.7% in June 2010 D-H Overdue Credit Portfolio/ Total Credit Credit Portfolio Quality – June 2010 1 6% 1 7% A, 49.6% 1.6% 1.7% 1.3% 0.7% 0.7% 0.7% M 09 J 09 S 09 D 09 M 10 J 10 B, 18.9% Mar-Jun-Sep-Dec-Mar-Jun-Overdue Credit Portfolio/ Total Credit AA, 26 3% C, 3.5% 26.3% D-E, 0.4% F-H, 1.3% 1.8% 1.7% 1.5% 0.8% 0.7% 0.7% Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Investor Relations | August - 2010 9/32
Funding Banco PINE maintains diversified funding sources Total Funding (R$ Million) Multilateral Organizations 4,396 4,311 3,772 ,656 ,701 3,875 4,553 4,655 4,890 US$28.9 Million US$33.5 Million 3 3 3 3 US$30.2 Million US$20.0 Million US$50.9 Million Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 229 296 508 24 29 26 27 229 Funding Mix (R$ Million) Subordinanted Debt 1,119 1,005 552 440 351 268 288 429 663 713 642 576 586 521 541 467 554 496 382 306 275 242 447 160 144 147 156 143 127 142 35 35 29 27 Borrowings and Onlendings Funds from Acceptance and 2,354 2,148 1,462 1,553 1,917 2,302 3,029 3,013 3,183 959 832 679 Securities Issued Trade Finance / Cayman Loan Assignments , Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Total Deposits Investor Relations | August - 2010 10/32
Funding and Loan Portfolio Maturities In 2Q10, the average term of funding was 18 months, compared with 13 months for the loan portfolio R$ Million Loan Portfolio + Cash Position From 3 to 5 years Funding(1) From 3 to 12 months R$1,675 From 1 to 3 years R$1,069 From 3 to 5 years R$250 From 1 to 3 years R$1,185 R$299 More than 5 years R$661 More than 5 years R$76 No Maturity R$36 From 3 to 12 Up to 3 months (includes Cash) R$2,557 Up to 3 months R$1,244 months R$1,465 (1) Excluding Shareholders’ Equity Investor Relations | August - 2010 11/32
Capital Adequacy Ratio (BIS) BIS ratio was 18.5% in June, which demonstrates a comfortable capital base. The growth rate reflects the approval of subordinated debt as Tier II BIS Ratio Public Offering February / 2010 Subordinated Notes Joint Bookrunners 16.5% 15.6% 19.3% 18.6% 19.3% 17.2% 15.6% 14.9% 18.5% Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 US$125 Million p p Equity (R$ thousand) BIS Ratio (%) Tier I 854,041 14.6% Tier II 228,230 3.9% BIS Ratio 1,082,271 18.5% Investor Relations | August - 2010 12/32
Consistent and Consolidated Strategy Banco PINE is a commercial bank focused on delivering a full set of financial services to corporations We will intensify our focus on companies, closely follow our client portfolio and endeavor to meet their needs swiftly and in a personalized manner as well as offer a wide range of products that increase the potential for cross-selling opportunities (Press Release 4Q08 – Page 2) Our strategy is not only working capital and trade finance, but a strategy to service a company in a cross-selling amplified (...) The type of client chosen is focused on a comprehensive strategy for delivering multiple products (Conference Call 2Q09) We are and will be a commercial credit bank, this is our vocation, it is our DNA (Conference Call 2Q09) Our goal is to offer a wide range of products that meet the needs of our clients, and also optimize our capital use, therefore increasing our per-client profitability (Conference Call 3Q09) These two parts, putting more capital to work and cross-selling strategy, will make ROAE 2010 closer to 15% (Conference Call 3Q09) We are optimistic and believe in a growth tendency and recovery for the next quarters (Conference Call 4Q09) As we said since the end of 2008, the Bank successfully reinforced its strategy of cross-selling financial instruments (Conference Call 4Q09) Investor Relations | August - 2010 13/32
Business Strategy
Business Opportunities The banking sector concentration reduced the credit offer to the segment which Banco PINE is in Positioning in 2008 Positioning in 2010 Large Mutiple banks Corporate sector mid-size banks Opportunity to expand operations Banco PINE: focused on corporate loan, offering tailor-made products with transparency and agility. Foreign Banks Mid-sized banks Investor Relations | August - 2010 15/32
Cross-selling Opportunities Financial instruments diversity for the diverse needs of our clients Challenges : L it t t l Capital optimization: Selective loan portfolio growth Lower interest rates & lower volatility Cross-selling: More products per client Corporate Loans Loans Overdraft accounts Foreign Exchange / Trade Finance Exports ACC/ACE Letter of Credit Onlending FINAME Automatic Guarantees Bidding Public tenders Treasury (Sales Desk) Currencies Investments Local Currency CDB/ RDB Government Bonds PINE Investimentos Underwriting and Syndicated Loans Private Equity Discounts Compror/Vendor Linked Collection Documentary Collection Prepayment Imports Manufacturer Agribusiness Others EXIM Pre-shipping Performance Credit/Financial Institutions Rates Commodities Equities Macro Advisory FIDC (Receivables Investment Funds) CDI (Interbank Deposit Certificate) LCA ( Agribusiness) q y Credit Funds Advisory Letter of Credit Advance Payments Documentary Collection Spot Foreign Exchange pp g Special Pre-shipping Post-shipping Automatic BNDES FINEM g ) Credit Funds Private Equity Foreign Currency CD -Certificate of Deposit Foreign currency loans and investments Loans (2,770) Foreign Lending Demand Deposit Accounts Eurobonds Custody Account Money Market Foreign Investments Accounts Time Deposit Private Equity Investor Relations | August - 2010 16/32
Cross-selling Opportunities Diversity of financial instruments for the diverse needs of our customers Credit products in local and foreign currency Loans Funding products in local and foreign currency Local deposits Credit and Funding Products Overdraft accounts Discounts BNDES onlending Guarantees Double index CDB LCA (Agribusiness Letters of Credit)/LCI BNDES onlending FIDC and Credit funds Compror/Vendor ACC/ACE Export Pre-payment Finimp Senior and subordinated local financial notes Time Deposits CD – Certificate of Deposit Eurobonds Letter of Credit 2,770 onlending Subordinated notes 2,770 onlending Clients’ Sales Desk PINE Investimentos Products for mitigating market risk mismatches Currencies, Commodities, Interest and Index derivatives: Credit Structuring Syndicated Loans Third-parties Asset Management NDF Options Swaps Structured Options Credit Funds Private Equity Funds Corporate Services Mergers & Acquisitions p FX Financial Advisory Investor Relations | August - 2010 17/32
Agility in Granting Credit 72-hour process in average; credit analysis may be concluded within 1 business day in special cases CREDIT COMMITTEE Strong origination team Presentation of proposals to the Chief Credit Officer Close relationship to clients and business with high renewal ratio among clients Cross-selling of credit products and financial Committee rocess and Credit Analysts Platform and g p services Diligent and complete credit analysis Issue of opinion Credit analysis, visits to clients, data ctronic Pr Regional Superintendents Expertise and flexibility in credit structuring Close monitoring of borrowers’ credit evolution , update, interaction with internal research team and issue of opinion Reports on credit Ele Agile credit decision-making process Credit Analyst Management of receivables portfolio risks and collaterals quality visits and loan transactions structuring Sales Officer Efficient loan process, documentation and controls Investor Relations | August - 2010 18/32
Organizational Structure Simple structure and flat hierarchy Board of Directors 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 CEO Fiscal Council Operating Risks Sidney Veneziani Sérgio Machado Alcindo Itikawa Noberto N. Pinheiro Jr. & Compliance Pine Investimentos Gustavo Junqueira Control and Market/ Liquidity Risk Financial & Products N b t Z i t J Corporate Sales Cli B t lh Credit Risk & Research G b i l Chi t Corporate Operations Uli Al t ill q y Susana Waldeck Clive Botelho Norberto Zaiet Jr. Ulisses Alcantarilla Gabriela Chiste Corporate • Loan Portfolio R$4.8 billion • Clients Corporate Credit • Analysis and granting of credit • Credit monitoring Treasury Corporate • Local Processing and • International Formalization 950 • Sales Desk • São Paulo L l • Ribeirão Preto • São José do Rio Preto • Rio de Janeiro • Curitiba • Porto Alegre • Belo Horizonte Market and liquidity Risk Human Resources Credit Structuring Credit Funds Financial Advisory risk and analysis by sector Funding • Local • International International • Cayman • Accounting Controlling Department Private Equity Distribution Legal • Recife Trade Finance Macro Research Products Investor Relations Investor Relations | August - 2010 19/32
Human Resources Banco PINE’s employees are its main assets Performance Management and Recognition Culture based on meritocracy 100% of employees profit sharing eligible Semiannual individual performance evaluation Qualification Monitoring the potential of each employee The Bank provides continuous training actions PINE University: programs to encourage the development, with incentives for language courses and short-duration, graduate, MBA programs, among other Compensation and Benefits Meritocracy : semiannual bonus programs aligned to the Bank's strategy, by encouraging cross-selling Investor Relations | August - 2010 20/32
The Current Scenario and Future Prospects Banco PINE is well positioned in the market and prepared for sustainable earnings growth Adequate capital structure 9 Issuance of a US$125 million subordinated debt, approved by the Brazilian Central Bank as Tier II capital Efficient funding structure 9 Lengthening: 18 months average 9 Greater diversification in June 9Capital Adequacy Ratio (BIS) of 18.5% Cross selling opportunities in the client Well prepared and encouraged team 9Meritocracy Cross-base 9102 new corporate loan clients added in 2Q10 y 9Qualification 9 Products diversity built over the past years 981% of the client base uses more than one product (June/2010) Investor Relations | August - 2010 21/32
Corporate Governance and Shares
Corporate Governance Banco PINE adopts the best corporate governance practices Two independent members and one external member in the Board of Directors Mailson Ferreira da Nóbrega: Finance Minister of Brazil Clear Policies Performance Monitoring 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 Settlement of Responsibilities Alignment of Internal Policies São Paulo Stock Exchange Level 1 of Corporate Governance C li ith Fiscal Council 100% l i h f ll h h ld i l di Risk Management Compliance with Legislation and interests tag along rights for all shareholders, including non-voting shares Arbitration procedures for fast settlement of litigation Investor Relations | August - 2010 23/32
Main Committees Banco PINE believes that the use of the best corporate governance practices substantially enhances its business business‟ outcome Main decisions are taken by committees: Board of Directors and a structure of specific committees Non-stop exchange of knowledge and information T Transparency Board of Directors Fiscal Council Audit S t Support Committee Executive Committee Treasury Committee National and Foreign Funding Credit Retail Compliance and Basel PINE Investimentos (ALCO) Products Committee Committee Committee Delinquency C itt Risk Committee Performance Evaluation Ethics C itt IT Committee Committee Committee C itt Committee Committee Human Resources Committee Investor Relations | August - 2010 24/32
Ownership Structure On July 1, BM&FBovespa granted Banco PINE’s request for an extension of the deadline for complying with the minimum free-float requirement Base: 07/30/2010 Common Preferred Total % Noberto Nogueira Pinheiro 45,443,872 14,490,556 59,934,428 70.2% Management - 2,631,243 2,631,243 3.1% Free Float - 20,768,595 20,768,595 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% The Bank shall maintain at least 24.3% free float until January 10, 2011 Should free float exceed 24.3% at any time before January 10, 2011, the Bank will not permit a reduction of this level Investor Relations | August - 2010 25/32
Shareholders’ Profile Shareholders' profile change since the crisis 2007 IPO F i I Foreign Investors 78.4% Institucional 39.7% 39.5% 39.5% 39.8% 40.5% 41.0% 42.0% 41.6% 41.7% 39 3% 40.7% 40.3% 40.1% 40.1% 39.6% 39.8% Foreign Investors Investors 12.9% 37.8% 38.3% 38.4% 38.5% 39.3% 38.6% 38.4% 38.2% 38.1% 38.0% 37.3% Institutional Investors Individuals 8.7% 21.1% 21.9% 21.5% 21.4% 21.5% 21.4% 20.9% 20.4% 21.1% 20.8% 19.9% 20.4% 21.0% Individuals Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 The Price/Book Value multiple was 1.17x on August 20, 2010 Investor Relations | August - 2010 26/32
Dividends Since 2008, Banco PINE has paid dividends/interest on equity on a quarterly-basis Dividends and Interest on Own Capital R$ million R$ Gross Amount Total Amount Amount per share 1Q10 15.0 0.179998 2Q10 20.0 0.239997 Total paid in 1H10 35.0 0.419995 Interest on Own l Capital and d d d Dividends (R$ Million) 45 16 25 25 33 30 35 1H07 2H07 1H08 2H08 1H09 2H09 1H10 Investor Relations | August - 2010 27/32
Social Responsibility Banco PINE supports and promotes the Brazilian culture Social Casa Hope Instituto Alfabetização Solidária Culture A Cidade e a Rosa: retrospective of the artist Paulo Von Poser Instituto Sedes Sapientiae Instituto Casa da Providência Paisagem e Olhar (Landscape and View): featuring watercolors of the biodiversity of the Rainforest Sports Minas Tênis Clube: training program for athletes Passe de Mágica: created in 2004 by Magic P l d B f B ili b k tb ll Embarcações (Typical Vessels of the Brazilian Coast): registers the beauty of vessels from north to south of Brazil Paula and Branca, former Brazilian basketball players, to offer basketball instruction for children Projeto Rede Atletismo Novos Talentos: (New Talent Athletics Network Project) i i f hl d l d d Responsible Credit training program for athletes developed and maintained by the Aquarela Foundation Green Building “Lists of Exceptions”: the Bank does not finance – with multilateral organizations lines - 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. Investor Relations | August - 2010 28/32
Rating upgrade by Fitch Consistent performance and credit quality On May 24, Fitch Ratings, one of the main international ratings agencies, raised PINE's ratings as follows: Long-Term Local and Foreign Currency IDR from “B+” to “BB-” National Long-Term rating from “A-(bra)” to “A(bra)” National Short-Term rating from “F2(bra)” to “F1(bra)” Individual rating from “D” to “C/D” The agency attributed the improvement in ratings due to the following factors : Bank's consistent performance during the global financial crisis Adequate credit quality Consistent risks and credit manage Favorable capitalization ratios According to the agency, “the Bank’s rating reflects its agility in adapting to economic volatility, its strategy of consistently managing risks and balance sheet adjustments”. Additionally, "since the second half of 2009, Pine resumed focus on Corporate credit growth (...) and also expanded revenues from cross-selling with the Treasury, addressed to its customers, and services financial advisory”. Investor Relations | August - 2010 29/32
Events and Highlights of the Period Market recognition Banco PINE is one of the top 15 banks in Brazil in terms of Corporate Loans, according to the 2010 edition of Melhores e Maiores, from Exame magazine Banco PINE was considered the Best Commercial Bank in Brazil by World Finance Banking Awards The award was created by British magazine World Finance. Among the factors analyzed were: solutions for clients and optimization of relationships, innovation and flexibility and staying ahead of the competition. Investor Relations | August - 2010 30/32
Banco PINE Pioneering spirit, solid and transparent, with the agility that companies need The first Brazilian bank of its size to go public One of the 15 largest banks in Corporate loans, noted for its good management during the crisis Clear, accessible and consistent information Investor Relations | August - 2010 31/32
Investor Relations Norberto Zaiet Júnior CFO Clive Botelho Corporate Sales Executive Vice-president Nira Bessler Head of Investor Relations Alejandra Hidalgo Investor Relations Analyst Phone: +55-11-3372-5553 / 5552 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. Investor Relations | August - 2010 32/32

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2010 Investors' Meeting Presentation - São Paulo

  • 1.
    Banco PINE specializesin the corporate sector, offering its clients a complete range of financial products and services August - 2010
  • 2.
    Banco PINE 2Q10 Presentation
  • 3.
    Agenda Highlights andResults Business Strategy Business Opportunities Cross-Selling Opportunities Agility in Granting Credit Organizational Structure Human Resources The Current Scenario and Future Prospects Corporate Governance and Shares Corporate Governance Main Committees Shareholders’ Structure Shareholders’ Profile Dividends Social Responsibility Rating upgrade by Fitch Events and Highlights of the Period Banco PINE Investor Relations | August - 2010 3/32
  • 4.
  • 5.
    Highlights Main indicatorsimprovement: profitability, credit and funding Operating Income (R$ Million) Δ 12M Δ Quarter 75.2% 26.2% Δ 6M 65.8% Net Income (R$ Million) Δ 12M Δ Quarter 63.3% 18.0% Δ 6M 57.1% Corporate Loan Portfolio (R$ Million) Δ 12M Δ 6M Δ Quarter 108 3 65.8 56.3% 16.4% 7.5% 34.5 47.9 60.4 65.3 108.3 21.8 30.2 35.6 41.9 2Q09 1Q10 2Q10 1H09 1H10 3,068 3,416 4,118 4,462 4,794 J 09 S 09 D 09 M 10 J 10 2Q09 1Q10 2Q10 1H09 1H10 ROAE Efficiency Ratio Jun-Sep-Dec-Mar-Jun-Total Deposits+ Agribusiness Letter of Credit (R$ Million) Δ 12M Δ Quarter -650 bps -600 bps Δ 6M -310 bps Δ 12M Δ Quarter 680 bps 260 bps Δ 6M 580 bps Δ 12M Δ 6M Δ Tri 66.0% 5.1% 5.6% 40.0% 39.5% 33 5% 39.3% 15.3% 17.9% 11.1% 36.2% 10.5% 16.3% 1,917 2,302 3,029 3,013 3,183 33.5% Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 2Q09 1Q10 2Q10 1H09 1H10 2Q09 1Q10 2Q10 1H09 1H10 Investor Relations | August - 2010 5/32
  • 6.
    Earnings Consistent incomegrowth in the last quarters, as a result of selective credit portfolio increase and cross-selling strategy ROAE Even during the global financial crisis, ROAE maintained a minimum of 10% 7.1% 3% 7.9% % 6.3% 260 bps increase in the quarter 17 9.9% 10.1% 11.1% 11.3% 10.7% 15. 1 13.2% 10.5% 10.8% 16 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 2H08 1H09 2H09 1H10 Net Income (R$ Thousand) 76 Gradual and consistent income growth in post-crisis period Net Income 18% up in the quarter 33,429 ,821 ,070 ,800 ,068 ,148 30,171 35,605 53,250 41,870 43,216 65,77 19, 20, 21 22 21, 3 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 2H08 1H09 2H09 1H10 Investor Relations | August - 2010 6/32
  • 7.
    Loan Portfolio Positivedevelopment of the loan portfolio Corporate Loan (R$ Million) Corporate loan portfolio grew 7.5% in 2Q10 and 56.3% in 12 months 8 462 ,794 3,533 3,534 3,070 2,842 3,068 3,416 4,11 4,4 4, Total Credit (R$ Million) Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Increase of the corporate loan portfolio, which represented 72% of 047 85 4 53 980 208 the total loan portfolio in June 2008 and now is responsible for 94% of the total 5,0 4,8 4,264 3,873 3,922 4,113 4,75 4,9 5,2 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Investor Relations | August - 2010 7/32
  • 8.
    Loan Portfolio Profile Banco PINE operates in the major sectors of the economy, with product diversity and regional distribution that mirrors the GDP’s Loan Portfolio by Region GDP s South 12% Loan Portfolio by Sector Northeast 10% A i l Construction 7% Financial Institutions Meat packing Southeast 66% Mid-West 10% Northeast 2% Electric and Renewable Energy Agriculture 8% 6% 5% Vehicles and Parts 5% Loan Portfolio by Product Working Capital 11% Transportation and Logistics 4% Pharmaceutical 58% BNDES onlendings 9% Resolution 2770 1% Infrastructure 13% and Cosmetic 3% Foreign Trade 3% Metallurgy 3% Trade Finance 14% Sugar and Ethanol 15% Specialized Services 2% Foodstuffs 2% Healthcare 2% Other 11% Guarantees 18% Investor Relations | August - 2010 8/32
  • 9.
    Loan Portfolio Quality The coverage of the overdue portfolio reached 214.7% in June 2010 D-H Overdue Credit Portfolio/ Total Credit Credit Portfolio Quality – June 2010 1 6% 1 7% A, 49.6% 1.6% 1.7% 1.3% 0.7% 0.7% 0.7% M 09 J 09 S 09 D 09 M 10 J 10 B, 18.9% Mar-Jun-Sep-Dec-Mar-Jun-Overdue Credit Portfolio/ Total Credit AA, 26 3% C, 3.5% 26.3% D-E, 0.4% F-H, 1.3% 1.8% 1.7% 1.5% 0.8% 0.7% 0.7% Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Investor Relations | August - 2010 9/32
  • 10.
    Funding Banco PINEmaintains diversified funding sources Total Funding (R$ Million) Multilateral Organizations 4,396 4,311 3,772 ,656 ,701 3,875 4,553 4,655 4,890 US$28.9 Million US$33.5 Million 3 3 3 3 US$30.2 Million US$20.0 Million US$50.9 Million Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 229 296 508 24 29 26 27 229 Funding Mix (R$ Million) Subordinanted Debt 1,119 1,005 552 440 351 268 288 429 663 713 642 576 586 521 541 467 554 496 382 306 275 242 447 160 144 147 156 143 127 142 35 35 29 27 Borrowings and Onlendings Funds from Acceptance and 2,354 2,148 1,462 1,553 1,917 2,302 3,029 3,013 3,183 959 832 679 Securities Issued Trade Finance / Cayman Loan Assignments , Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Total Deposits Investor Relations | August - 2010 10/32
  • 11.
    Funding and LoanPortfolio Maturities In 2Q10, the average term of funding was 18 months, compared with 13 months for the loan portfolio R$ Million Loan Portfolio + Cash Position From 3 to 5 years Funding(1) From 3 to 12 months R$1,675 From 1 to 3 years R$1,069 From 3 to 5 years R$250 From 1 to 3 years R$1,185 R$299 More than 5 years R$661 More than 5 years R$76 No Maturity R$36 From 3 to 12 Up to 3 months (includes Cash) R$2,557 Up to 3 months R$1,244 months R$1,465 (1) Excluding Shareholders’ Equity Investor Relations | August - 2010 11/32
  • 12.
    Capital Adequacy Ratio(BIS) BIS ratio was 18.5% in June, which demonstrates a comfortable capital base. The growth rate reflects the approval of subordinated debt as Tier II BIS Ratio Public Offering February / 2010 Subordinated Notes Joint Bookrunners 16.5% 15.6% 19.3% 18.6% 19.3% 17.2% 15.6% 14.9% 18.5% Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 US$125 Million p p Equity (R$ thousand) BIS Ratio (%) Tier I 854,041 14.6% Tier II 228,230 3.9% BIS Ratio 1,082,271 18.5% Investor Relations | August - 2010 12/32
  • 13.
    Consistent and ConsolidatedStrategy Banco PINE is a commercial bank focused on delivering a full set of financial services to corporations We will intensify our focus on companies, closely follow our client portfolio and endeavor to meet their needs swiftly and in a personalized manner as well as offer a wide range of products that increase the potential for cross-selling opportunities (Press Release 4Q08 – Page 2) Our strategy is not only working capital and trade finance, but a strategy to service a company in a cross-selling amplified (...) The type of client chosen is focused on a comprehensive strategy for delivering multiple products (Conference Call 2Q09) We are and will be a commercial credit bank, this is our vocation, it is our DNA (Conference Call 2Q09) Our goal is to offer a wide range of products that meet the needs of our clients, and also optimize our capital use, therefore increasing our per-client profitability (Conference Call 3Q09) These two parts, putting more capital to work and cross-selling strategy, will make ROAE 2010 closer to 15% (Conference Call 3Q09) We are optimistic and believe in a growth tendency and recovery for the next quarters (Conference Call 4Q09) As we said since the end of 2008, the Bank successfully reinforced its strategy of cross-selling financial instruments (Conference Call 4Q09) Investor Relations | August - 2010 13/32
  • 14.
  • 15.
    Business Opportunities Thebanking sector concentration reduced the credit offer to the segment which Banco PINE is in Positioning in 2008 Positioning in 2010 Large Mutiple banks Corporate sector mid-size banks Opportunity to expand operations Banco PINE: focused on corporate loan, offering tailor-made products with transparency and agility. Foreign Banks Mid-sized banks Investor Relations | August - 2010 15/32
  • 16.
    Cross-selling Opportunities Financialinstruments diversity for the diverse needs of our clients Challenges : L it t t l Capital optimization: Selective loan portfolio growth Lower interest rates & lower volatility Cross-selling: More products per client Corporate Loans Loans Overdraft accounts Foreign Exchange / Trade Finance Exports ACC/ACE Letter of Credit Onlending FINAME Automatic Guarantees Bidding Public tenders Treasury (Sales Desk) Currencies Investments Local Currency CDB/ RDB Government Bonds PINE Investimentos Underwriting and Syndicated Loans Private Equity Discounts Compror/Vendor Linked Collection Documentary Collection Prepayment Imports Manufacturer Agribusiness Others EXIM Pre-shipping Performance Credit/Financial Institutions Rates Commodities Equities Macro Advisory FIDC (Receivables Investment Funds) CDI (Interbank Deposit Certificate) LCA ( Agribusiness) q y Credit Funds Advisory Letter of Credit Advance Payments Documentary Collection Spot Foreign Exchange pp g Special Pre-shipping Post-shipping Automatic BNDES FINEM g ) Credit Funds Private Equity Foreign Currency CD -Certificate of Deposit Foreign currency loans and investments Loans (2,770) Foreign Lending Demand Deposit Accounts Eurobonds Custody Account Money Market Foreign Investments Accounts Time Deposit Private Equity Investor Relations | August - 2010 16/32
  • 17.
    Cross-selling Opportunities Diversityof financial instruments for the diverse needs of our customers Credit products in local and foreign currency Loans Funding products in local and foreign currency Local deposits Credit and Funding Products Overdraft accounts Discounts BNDES onlending Guarantees Double index CDB LCA (Agribusiness Letters of Credit)/LCI BNDES onlending FIDC and Credit funds Compror/Vendor ACC/ACE Export Pre-payment Finimp Senior and subordinated local financial notes Time Deposits CD – Certificate of Deposit Eurobonds Letter of Credit 2,770 onlending Subordinated notes 2,770 onlending Clients’ Sales Desk PINE Investimentos Products for mitigating market risk mismatches Currencies, Commodities, Interest and Index derivatives: Credit Structuring Syndicated Loans Third-parties Asset Management NDF Options Swaps Structured Options Credit Funds Private Equity Funds Corporate Services Mergers & Acquisitions p FX Financial Advisory Investor Relations | August - 2010 17/32
  • 18.
    Agility in GrantingCredit 72-hour process in average; credit analysis may be concluded within 1 business day in special cases CREDIT COMMITTEE Strong origination team Presentation of proposals to the Chief Credit Officer Close relationship to clients and business with high renewal ratio among clients Cross-selling of credit products and financial Committee rocess and Credit Analysts Platform and g p services Diligent and complete credit analysis Issue of opinion Credit analysis, visits to clients, data ctronic Pr Regional Superintendents Expertise and flexibility in credit structuring Close monitoring of borrowers’ credit evolution , update, interaction with internal research team and issue of opinion Reports on credit Ele Agile credit decision-making process Credit Analyst Management of receivables portfolio risks and collaterals quality visits and loan transactions structuring Sales Officer Efficient loan process, documentation and controls Investor Relations | August - 2010 18/32
  • 19.
    Organizational Structure Simplestructure and flat hierarchy Board of Directors 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 CEO Fiscal Council Operating Risks Sidney Veneziani Sérgio Machado Alcindo Itikawa Noberto N. Pinheiro Jr. & Compliance Pine Investimentos Gustavo Junqueira Control and Market/ Liquidity Risk Financial & Products N b t Z i t J Corporate Sales Cli B t lh Credit Risk & Research G b i l Chi t Corporate Operations Uli Al t ill q y Susana Waldeck Clive Botelho Norberto Zaiet Jr. Ulisses Alcantarilla Gabriela Chiste Corporate • Loan Portfolio R$4.8 billion • Clients Corporate Credit • Analysis and granting of credit • Credit monitoring Treasury Corporate • Local Processing and • International Formalization 950 • Sales Desk • São Paulo L l • Ribeirão Preto • São José do Rio Preto • Rio de Janeiro • Curitiba • Porto Alegre • Belo Horizonte Market and liquidity Risk Human Resources Credit Structuring Credit Funds Financial Advisory risk and analysis by sector Funding • Local • International International • Cayman • Accounting Controlling Department Private Equity Distribution Legal • Recife Trade Finance Macro Research Products Investor Relations Investor Relations | August - 2010 19/32
  • 20.
    Human Resources BancoPINE’s employees are its main assets Performance Management and Recognition Culture based on meritocracy 100% of employees profit sharing eligible Semiannual individual performance evaluation Qualification Monitoring the potential of each employee The Bank provides continuous training actions PINE University: programs to encourage the development, with incentives for language courses and short-duration, graduate, MBA programs, among other Compensation and Benefits Meritocracy : semiannual bonus programs aligned to the Bank's strategy, by encouraging cross-selling Investor Relations | August - 2010 20/32
  • 21.
    The Current Scenarioand Future Prospects Banco PINE is well positioned in the market and prepared for sustainable earnings growth Adequate capital structure 9 Issuance of a US$125 million subordinated debt, approved by the Brazilian Central Bank as Tier II capital Efficient funding structure 9 Lengthening: 18 months average 9 Greater diversification in June 9Capital Adequacy Ratio (BIS) of 18.5% Cross selling opportunities in the client Well prepared and encouraged team 9Meritocracy Cross-base 9102 new corporate loan clients added in 2Q10 y 9Qualification 9 Products diversity built over the past years 981% of the client base uses more than one product (June/2010) Investor Relations | August - 2010 21/32
  • 22.
  • 23.
    Corporate Governance BancoPINE adopts the best corporate governance practices Two independent members and one external member in the Board of Directors Mailson Ferreira da Nóbrega: Finance Minister of Brazil Clear Policies Performance Monitoring 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 Settlement of Responsibilities Alignment of Internal Policies São Paulo Stock Exchange Level 1 of Corporate Governance C li ith Fiscal Council 100% l i h f ll h h ld i l di Risk Management Compliance with Legislation and interests tag along rights for all shareholders, including non-voting shares Arbitration procedures for fast settlement of litigation Investor Relations | August - 2010 23/32
  • 24.
    Main Committees BancoPINE believes that the use of the best corporate governance practices substantially enhances its business business‟ outcome Main decisions are taken by committees: Board of Directors and a structure of specific committees Non-stop exchange of knowledge and information T Transparency Board of Directors Fiscal Council Audit S t Support Committee Executive Committee Treasury Committee National and Foreign Funding Credit Retail Compliance and Basel PINE Investimentos (ALCO) Products Committee Committee Committee Delinquency C itt Risk Committee Performance Evaluation Ethics C itt IT Committee Committee Committee C itt Committee Committee Human Resources Committee Investor Relations | August - 2010 24/32
  • 25.
    Ownership Structure OnJuly 1, BM&FBovespa granted Banco PINE’s request for an extension of the deadline for complying with the minimum free-float requirement Base: 07/30/2010 Common Preferred Total % Noberto Nogueira Pinheiro 45,443,872 14,490,556 59,934,428 70.2% Management - 2,631,243 2,631,243 3.1% Free Float - 20,768,595 20,768,595 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% The Bank shall maintain at least 24.3% free float until January 10, 2011 Should free float exceed 24.3% at any time before January 10, 2011, the Bank will not permit a reduction of this level Investor Relations | August - 2010 25/32
  • 26.
    Shareholders’ Profile Shareholders'profile change since the crisis 2007 IPO F i I Foreign Investors 78.4% Institucional 39.7% 39.5% 39.5% 39.8% 40.5% 41.0% 42.0% 41.6% 41.7% 39 3% 40.7% 40.3% 40.1% 40.1% 39.6% 39.8% Foreign Investors Investors 12.9% 37.8% 38.3% 38.4% 38.5% 39.3% 38.6% 38.4% 38.2% 38.1% 38.0% 37.3% Institutional Investors Individuals 8.7% 21.1% 21.9% 21.5% 21.4% 21.5% 21.4% 20.9% 20.4% 21.1% 20.8% 19.9% 20.4% 21.0% Individuals Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 The Price/Book Value multiple was 1.17x on August 20, 2010 Investor Relations | August - 2010 26/32
  • 27.
    Dividends Since 2008,Banco PINE has paid dividends/interest on equity on a quarterly-basis Dividends and Interest on Own Capital R$ million R$ Gross Amount Total Amount Amount per share 1Q10 15.0 0.179998 2Q10 20.0 0.239997 Total paid in 1H10 35.0 0.419995 Interest on Own l Capital and d d d Dividends (R$ Million) 45 16 25 25 33 30 35 1H07 2H07 1H08 2H08 1H09 2H09 1H10 Investor Relations | August - 2010 27/32
  • 28.
    Social Responsibility BancoPINE supports and promotes the Brazilian culture Social Casa Hope Instituto Alfabetização Solidária Culture A Cidade e a Rosa: retrospective of the artist Paulo Von Poser Instituto Sedes Sapientiae Instituto Casa da Providência Paisagem e Olhar (Landscape and View): featuring watercolors of the biodiversity of the Rainforest Sports Minas Tênis Clube: training program for athletes Passe de Mágica: created in 2004 by Magic P l d B f B ili b k tb ll Embarcações (Typical Vessels of the Brazilian Coast): registers the beauty of vessels from north to south of Brazil Paula and Branca, former Brazilian basketball players, to offer basketball instruction for children Projeto Rede Atletismo Novos Talentos: (New Talent Athletics Network Project) i i f hl d l d d Responsible Credit training program for athletes developed and maintained by the Aquarela Foundation Green Building “Lists of Exceptions”: the Bank does not finance – with multilateral organizations lines - 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. Investor Relations | August - 2010 28/32
  • 29.
    Rating upgrade byFitch Consistent performance and credit quality On May 24, Fitch Ratings, one of the main international ratings agencies, raised PINE's ratings as follows: Long-Term Local and Foreign Currency IDR from “B+” to “BB-” National Long-Term rating from “A-(bra)” to “A(bra)” National Short-Term rating from “F2(bra)” to “F1(bra)” Individual rating from “D” to “C/D” The agency attributed the improvement in ratings due to the following factors : Bank's consistent performance during the global financial crisis Adequate credit quality Consistent risks and credit manage Favorable capitalization ratios According to the agency, “the Bank’s rating reflects its agility in adapting to economic volatility, its strategy of consistently managing risks and balance sheet adjustments”. Additionally, "since the second half of 2009, Pine resumed focus on Corporate credit growth (...) and also expanded revenues from cross-selling with the Treasury, addressed to its customers, and services financial advisory”. Investor Relations | August - 2010 29/32
  • 30.
    Events and Highlightsof the Period Market recognition Banco PINE is one of the top 15 banks in Brazil in terms of Corporate Loans, according to the 2010 edition of Melhores e Maiores, from Exame magazine Banco PINE was considered the Best Commercial Bank in Brazil by World Finance Banking Awards The award was created by British magazine World Finance. Among the factors analyzed were: solutions for clients and optimization of relationships, innovation and flexibility and staying ahead of the competition. Investor Relations | August - 2010 30/32
  • 31.
    Banco PINE Pioneeringspirit, solid and transparent, with the agility that companies need The first Brazilian bank of its size to go public One of the 15 largest banks in Corporate loans, noted for its good management during the crisis Clear, accessible and consistent information Investor Relations | August - 2010 31/32
  • 32.
    Investor Relations NorbertoZaiet Júnior CFO Clive Botelho Corporate Sales Executive Vice-president Nira Bessler Head of Investor Relations Alejandra Hidalgo Investor Relations Analyst Phone: +55-11-3372-5553 / 5552 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. Investor Relations | August - 2010 32/32