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1Q11 Results Conference Call
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- 2. Content Financial Information 1Q11 Highlights Page 4 1Q11 Highlights – Corporate Business Page 5 Credit Portfolio Page 6 Credit Portfolio Profile Page 7 Credit Portfolio Quality Page 8 Payroll Deductible Loan Portfolio Page 9 Funding Page 10 Funding and Credit Portfolio Maturities Page 11 Capital Adequacy Ratio (BIS) Page 12 Other Highlights 2011 Guidance – BR GAAP Page 14 1Q11 Events and Highlights Page 15 Investor Relations| 1Q11 | 2/16
- 3. 1Q11 – FinancialInformation
- 4. 1Q11 Highlights Allmain indicators showed improvement in the period... Corporate Credit Portfolio* 4,462 5,792 (R$ Million) 29.8% 4,634 5,447 Total Funding (R$ Million) 17.5% Operating Income (R$ Milllion) 0.6% 47.9 48.2 1Q10 1Q11 Mar-10 Mar-11 Mar-10 Mar-11 (*) Includes private securities Net Income (R$ Million) 4.3% 30.1 31.5 1Q10 1Q11 ROAE -10 bps 15.3% 15.2% 1Q10 1Q11 NIM before Provision 6.4% 6.4% 1Q10 1Q11 Investor Relations| 1Q11 | 4/16
- 5. 1Q11 Highlights -Corporate ... with highlight for the Corporate business earnings. Corporate business consistent performance Close relationship with companies in various sectors, such as sugar and alcohol, infrastructure, renewable energy and construction, among others Positive contribution of all business lines: Corporate Credit, Sales Desk and PINE Investimentos Net Income of R$35.4 million ROAE of 17.2% Corporate Income Breakdown Corporate Credit 77.7% PINE Investimentos 2.3% Treasury 6.9% Sales Desk 13.1% 1Q10 Corporate Credit 69.0% PINE Investimentos 0.5% Treasury 3.4% Sales Desk 27.1% 1Q11 Investor Relations| 1Q11 | 5/16
- 6. Credit Portfolio Positivecredit portfolio development... Corporate credit portfolio grew 29.8% in 12 months. Corporate Credit Mix (R$ Million) 13 10 1,767 1,964 2,284 2,703 2,822 2,792 3,251 3,358 3,132 72 68 87 176 242 455 629 833 871 272 292 350 511 634 842 827 1,022 1,117 688 708 663 707 745 688 543 520 591 44 36 32 21 19 18 15 Private Securities Resolution 2770 Trade finance Bank Guarantees BNDES Onlending Working Capital 2,842 3,068 3,416 4,118 4,462 4,794 5,265 5,747 5,792 71 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 (*) Includes Private Bonds Increase of the corporate loan portfolio, which represents 98% of the total credit portfolio. 3,873 Total Credit Portfolio (R$ Million) 3,922 4,113 4,753 4,960 5,208 5,617 6,016 6,022 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 (**) Includes corporate credit, debentures, remaining payroll-deductible loans and credit acquired from financial institutions Investor Relations| 1Q11 | 6/16
- 7. Credit Portfolio Profile- Corporate ... growing in a diversified manner, both in sectors and products. Credit Portfolio by Sector Geographic Distribution Electric and Renewable Energy 9% Agriculture 9% Construction 8% Transportation and Logistics 7% Financial Institutions 4% Meat packing 4% Foreign Trade 4% Telecom 3% Southeast Mid-West 14% Northeast 6% North 2% South 69% 9% Credit Portfolio by Product Sugar and Ethanol 17% Infrastructure 10% Specialized Services 3% Vehicles and Parts 3% Pharmaceutical and Cosmetic 2% Metal and Mining 2% Construction Materials 2% Other 13% Working Capital 54.7% Trade finance 10.3% Resolution BNDES Guarantees 2770 Onlendings 15.2% Bank 19.5% 0.2% Investor Relations| 1Q11 | 7/16
- 8. Credit Portfolio Quality …with a solid credit portfolio, in a more restrictive scenario. Credit Portfolio Quality – March 2011 Non-Performing Loans 1.5% 1.3% 0.7% 0.6% 0.5% Total Contract Overdue Installments 0.1% 0.7% 0.5% 0.4% 0.3% 0.1% 0.1% More than 15 days More than 30 days More than 60 days More than 90 days More than 120 days More than 180 days AA-A 65.1% B 25.6% C 5.8% D-E 1.4% F-H 2.1% Total Credit Coverage Collaterals 1.74% 90 bps 20 bps 2.45% 2.66% Mar-10 Dec-10 Mar-11 Receivables 36% Products Pledge 42% Property Pledge 18% Investments 4% Investor Relations| 1Q11 | 8/16
- 9. Payroll-Deductible Loans Portfolio Reduced impact coming from the retail business expected for 2011, due to the retail credit portfolio run-off. 890 730 594 475 378 286 225 177 148 Payroll-Deductible Loans Portfolio (R$ Million) Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Payroll Deductible Loan Run-off Forecast - 126 74 * Retail (R$ Million) 31 11 3 Mar-11 Dec-11 Dec-12 Dec-13 Dec-14 *Portfolio assigned with recourse Investor Relations| 1Q11 | 9/16
- 10. Funding Funding isgrowing with quality and... 46 42 224 320 1,463 1,559 39 50 91 85 36 201 175 198 214 41 272 206 218 248 87 176 242 453 626 829 867 473 472 393 350 361 326 385 797 650 529 419 330 249 192 152 125 283 247 225 230 239 227 200 160 282 141 116 108 75 276 203 194 194 201 104 78 72 77 87 151 166 179 172 71 60 54 53 54 55 52 51 50 Funding Mix (R$ Million) 2770 Lines Private Placements Capital Market Multilateral Lines Loan Assignments Trade Finance BNDES 5,375 4,871 4,531 4,634 3,852 3,621 3,674 5,589 5,447 536 68 77 84 88 807 63 85 89 840 1,123 1,064 1,124 1,114 601 72 32 186 85 753 1,570 1,566 1,646 1,654 1,564 1,720 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Foreign Funding – Multilateral Agencies Total Deposits Demand deposits Interbank deposits Corporate Clients A/B Loan (January, 2011) US$106.0 Million 497 861 1,225 Individuals Institutional Investor Relations| 1Q11 | 10/16
- 11. Funding and CreditPortfolio Maturities ... posting an 80 days positive gap between credit and funding. R$ million 1,985 1,855 1,880 1,185 1,299 1,737 Credit Funding Average Maturity Credit: 471 days Funding: 551 days 98 780 404 From 3 to 5 years More than 5 years (*) Does not consider Shareholders' equity - 398 42 No Maturity Up to 3 months (includes Cash) From 3 to 12 months From 1 to 3 years Investor Relations| 1Q11 | 11/16
- 12. Capital Adequacy Ratio(BIS) BIS ratio remained at a comfortable level. Public Offering US$125 Million Subordinated Notes 17.8% 18.7% 16.7% BIS Ratio Tier II Tier I 11% - Minimum Regulatoty Capital 15.1% 14.4% 14.6% 14.8% 13.8% 13.4% 0.8% 0.6% 0.5% 0.5% 0.5% 3.9% 3.6% 3.6% 3.7% 18,6% 19,3% 17,2% 15,6% 14,9% 18,5% 18,4% 17,4% 17,1% February/2010 R$ Thousand BIS Ratio (%) 866,124 238,492 1,104,616 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Tier I 13.4% Tier I I 3.7% Total 17.1% Investor Relations| 1Q11 | 12/16
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- 14. 2011 Guidance –BR GAAP Maintenance of the guidance released in 4Q10. Guidance Corporate Credit Portfolio 20% - 25% Administrative and Personnel Expenses 5% - 10% NIM 5.5% - 7.5% Corporate ROAE 17% - 20% Investor Relations| 1Q11 | 14/16
- 15. 1Q11 Events andHighlights Market Recognition. PINE is ranked the 13th largest bank in Cetip’s overall derivatives ranking and the 3rd largest in commodities hedge for clients On April 6th, PINE’s corporate credit FIDC transaction was successfully completed. The amount of the transaction was R$ 300 million, with a AA+ rating attributed by S&P PINE was considered, for the second consecutive year, the best commercial bank in Brazil in the World Finance Banking Awards. The award was created by British magazine World Finance. Some of the most important criteria were: solutions for clients and optimization of relationships, innovation and flexibility, and staying ahead of the competition Investor Relations| 1Q11 | 15/16
- 16. Investor Relations NorbertoZaiet Junior CFO Nira Bessler Head of Investor Relations Alexandre Cavalcanti Investor Relations Manager 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| 1Q11 | 16/16