The document summarizes a public meeting held by Banco Indusval Multistock on August 19, 2010.
Banco Indusval Multistock is a mid-sized Brazilian bank with over 40 years of experience in the financial market, focusing on lending to mid-market companies. The bank has a loan portfolio of R$1.8 billion, total assets of R$3 billion, and equity of R$430 million.
The meeting covered the bank's loan portfolio performance, funding and liquidity, results, brokerage business, capital markets activities, and sustainability efforts. Key topics included the bank's growth strategy, credit trends in Brazil, quality of the loan portfolio, and sources of funding
1) The document outlines SEB Group's Q3 2008 results including highlights on asset quality, operations in the Baltics, and capitalization.
2) It shows that SEB had resilient underlying business performance in Q3 2008 but negative financial effects from the financial crisis.
3) The tables and charts present data on topics like income sources, credit exposure by sector and geography, property management portfolio, and asset quality for SEB and their key markets.
Assessment of the ANZ-RBS Merger in Asia Pacifichbhardwaj
The proposed merger involves ANZ acquiring RBS's retail banking assets in Asia, including its operations in Taiwan, Hong Kong, Singapore, Indonesia, Philippines and Vietnam. Key details of the proposed deal include ANZ acquiring a customer base of over 2 million and assets valued at $3.6 billion. The acquisition is part of ANZ's strategy to expand its presence in Asia and will be an all-cash transaction funded by a recent capital raising. The deal is expected to be earnings accretive for ANZ within two years of completion.
State Bank of India reported a 25.1% year-over-year increase in net profit for the first quarter of fiscal year 2011, exceeding analyst estimates. Net interest income grew 45.4% year-over-year due to a rise in low-cost deposits and narrowing of net interest margin. Loan growth was 20.4% year-over-year while deposit growth was 6.8% year-over-year. Non-performing assets rose slightly during the quarter but asset quality remained reasonable with net NPA ratio of 1.7%. The analyst maintains an "Accumulate" rating on the stock.
The key points from the document are:
1) Indian markets ended lower on Monday due to weakness in auto and IT stocks and concerns over debt issues in the US and Europe. The Sensex closed down 0.3% and the Nifty fell 0.25%.
2) Global markets also fell as concerns over solving debt crises in Europe and the US continued. The Dow fell 0.76% and the S&P 500 dropped 0.81%.
3) Brent crude oil declined 0.91% to $116.1 per barrel while gold rose 1.83% and silver increased 6.81% on the day.
Home Product Center Public Company Limited is Thailand's leading home improvement retailer. It operates 46 stores nationwide and offers over 60,000 home improvement products. In 2011, the company saw sustainable sales growth and rising other income. While SG&A expenses increased in baht terms due to new store operations, they declined as a percentage of sales. Gross profit and EBIT margins increased due to higher margin product mixes. NPAT grew 22.4% in 2011 and the company pays dividends to shareholders. Looking forward, the company plans to expand its store network and private brand products. It also engages in corporate social responsibility programs.
This annual report summarizes Santander Group's performance in 2010. Some key highlights include:
- Total assets grew 9.6% to €1.22 trillion and customer loans grew 6.1% to €724 billion.
- Attributable profit to the Group declined 8.5% to €8.18 billion, as profit from continuing operations fell 3.2% to €9.13 billion.
- The Group has a presence across Europe, Latin America, and the United States, with over 14,000 branches and 178,000 employees worldwide.
1184151559656 State Bank Group March 2007akash_mehra
State Bank Group is an Indian financial services group with a presence in banking, insurance, and investment services. It has a large branch network of over 14,000 branches within India and several subsidiaries operating both domestically and internationally. The group has a 25% market share of deposits and loans within India's banking sector. It aims to be a premier financial services group with global standards of efficiency while retaining its position as a pioneer in development banking in India.
Santander Bank Annual Report 2011 Annual review 2011 BANCO SANTANDER
Banco Santander reported an attributable profit of EUR 5,351 million in 2011. Key figures include gross income increasing 5.3% to EUR 44,262 million and net operating income rising 2.2% to EUR 24,373 million. The bank strengthened its balance sheet by increasing core capital to 10.02% under Basel II and assigning EUR 1,812 million to provisions for real estate assets in Spain. Shareholder remuneration was maintained at EUR 0.60 per share for the third year.
1) The document outlines SEB Group's Q3 2008 results including highlights on asset quality, operations in the Baltics, and capitalization.
2) It shows that SEB had resilient underlying business performance in Q3 2008 but negative financial effects from the financial crisis.
3) The tables and charts present data on topics like income sources, credit exposure by sector and geography, property management portfolio, and asset quality for SEB and their key markets.
Assessment of the ANZ-RBS Merger in Asia Pacifichbhardwaj
The proposed merger involves ANZ acquiring RBS's retail banking assets in Asia, including its operations in Taiwan, Hong Kong, Singapore, Indonesia, Philippines and Vietnam. Key details of the proposed deal include ANZ acquiring a customer base of over 2 million and assets valued at $3.6 billion. The acquisition is part of ANZ's strategy to expand its presence in Asia and will be an all-cash transaction funded by a recent capital raising. The deal is expected to be earnings accretive for ANZ within two years of completion.
State Bank of India reported a 25.1% year-over-year increase in net profit for the first quarter of fiscal year 2011, exceeding analyst estimates. Net interest income grew 45.4% year-over-year due to a rise in low-cost deposits and narrowing of net interest margin. Loan growth was 20.4% year-over-year while deposit growth was 6.8% year-over-year. Non-performing assets rose slightly during the quarter but asset quality remained reasonable with net NPA ratio of 1.7%. The analyst maintains an "Accumulate" rating on the stock.
The key points from the document are:
1) Indian markets ended lower on Monday due to weakness in auto and IT stocks and concerns over debt issues in the US and Europe. The Sensex closed down 0.3% and the Nifty fell 0.25%.
2) Global markets also fell as concerns over solving debt crises in Europe and the US continued. The Dow fell 0.76% and the S&P 500 dropped 0.81%.
3) Brent crude oil declined 0.91% to $116.1 per barrel while gold rose 1.83% and silver increased 6.81% on the day.
Home Product Center Public Company Limited is Thailand's leading home improvement retailer. It operates 46 stores nationwide and offers over 60,000 home improvement products. In 2011, the company saw sustainable sales growth and rising other income. While SG&A expenses increased in baht terms due to new store operations, they declined as a percentage of sales. Gross profit and EBIT margins increased due to higher margin product mixes. NPAT grew 22.4% in 2011 and the company pays dividends to shareholders. Looking forward, the company plans to expand its store network and private brand products. It also engages in corporate social responsibility programs.
This annual report summarizes Santander Group's performance in 2010. Some key highlights include:
- Total assets grew 9.6% to €1.22 trillion and customer loans grew 6.1% to €724 billion.
- Attributable profit to the Group declined 8.5% to €8.18 billion, as profit from continuing operations fell 3.2% to €9.13 billion.
- The Group has a presence across Europe, Latin America, and the United States, with over 14,000 branches and 178,000 employees worldwide.
1184151559656 State Bank Group March 2007akash_mehra
State Bank Group is an Indian financial services group with a presence in banking, insurance, and investment services. It has a large branch network of over 14,000 branches within India and several subsidiaries operating both domestically and internationally. The group has a 25% market share of deposits and loans within India's banking sector. It aims to be a premier financial services group with global standards of efficiency while retaining its position as a pioneer in development banking in India.
Santander Bank Annual Report 2011 Annual review 2011 BANCO SANTANDER
Banco Santander reported an attributable profit of EUR 5,351 million in 2011. Key figures include gross income increasing 5.3% to EUR 44,262 million and net operating income rising 2.2% to EUR 24,373 million. The bank strengthened its balance sheet by increasing core capital to 10.02% under Basel II and assigning EUR 1,812 million to provisions for real estate assets in Spain. Shareholder remuneration was maintained at EUR 0.60 per share for the third year.
Fullerton Securities' Weekly newsletter - 25th September 2010Fullerton Securities
The Indian equity markets ended the week on a positive note, with the BSE Sensex up 2.3% and the NSE Nifty up 2.26%. The top performing sectors were FMCG, consumer durables, and auto. US markets also ended higher, with the Dow Jones up 2.38% and gold touching a record high of over $1,300 an ounce. Crude oil gained 4.1% to close at $76.5 per barrel.
The document is a portfolio statement for a mutual fund as of July 29, 2011. It lists the fund's top 20 holdings by market value, which make up over 50% of the total assets. The portfolio has significant exposure to banks, software, consumer non-durables, pharmaceuticals, and petroleum products. It also provides industry diversification breakdown and notes a portfolio turnover ratio of 0.26 times for the past year.
The document discusses CardSystem's 2Q07 conference call results. It states that CardSystem's card base grew 37.6% in 2Q07 compared to 2Q06, outpacing market growth. Revenue increased 11.4% compared to 1Q07 and 16.9% compared to 2Q06. Gross profit and EBITDA grew faster than revenue in 1Q07, showing improved efficiency. TeleSystem revenue declined 7.1% compared to 2Q06 but increased 13% compared to 1Q07, with negative gross margins. The platform for Caixa was delivered in June and additional investments are being studied.
The document provides a daily market commentary and analysis. It summarizes movements in various global and domestic indices, turnover numbers for foreign and domestic institutional investors, and currency exchange rates. It also lists the top gaining and losing stocks in the Nifty index. Special situation stocks and their commentary are presented. Key news headlines from business dailies are highlighted touching on various sectors. Insider trading activity and upcoming corporate actions are also noted.
The document provides portfolio information for Fidelity India Tax Advantage Fund as of May 31, 2011. Some of the top holdings include Reliance Industries Ltd., ITC Ltd., ICICI Bank Ltd., and HDFC Bank Ltd. The portfolio had a total value of Rs. 12,469.39 lakhs invested across various industries, with the largest allocations to petroleum products, banks, consumer non-durables, and software. The fund manager is Sandeep Kothari, with over 17 years of experience.
BRProperties reported strong financial results in 2010, with gross revenues increasing 78% compared to 2009, reaching R$223.4 million. Adjusted EBITDA was R$177.5 million, an increase of 89% over 2009. Net income increased 388% to R$813.4 million. The company invested over R$2 billion in acquisitions during 2010, exceeding its target. The portfolio was appraised at R$4.78 billion, a 22% increase in market value year-over-year.
BRProperties reported strong financial results in 2010, with gross revenues increasing 78% and adjusted EBITDA increasing 89% compared to 2009. The company invested over $1.7 billion in acquisitions after its IPO, exceeding its capital budget target. The portfolio was appraised at a 22% increase in market value to R$4.78 billion. Net income increased 388% to R$813.4 million while FFO excluding appraisal effects was R$92.2 million, a 45% FFO margin. Vacancy rates declined while leasing spreads on renewals and new leases were positive.
Unitech Limited is one of India's leading real estate companies with over 30 years of experience and a market capitalization of approximately $15 billion. It has a diverse portfolio of residential, commercial, retail, entertainment and hospitality projects across India. Unitech has ambitious plans to expand its pan-India presence and focus on large, mixed-use and self-sustaining projects. The company has a proven track record of consistent financial growth and operational performance.
This document is VF Corporation's 2003 annual report. It discusses the company's financial performance in 2003 and strategies for its brands. The report emphasizes VF Corporation's focus on understanding consumer lifestyles and styling life through their portfolio of brands. It highlights initiatives for major brands like Lee, Wrangler, and Vanity Fair to expand product lines and connect with target audiences. The annual report communicates VF Corporation's vision of continuing to strengthen their position as the world's largest apparel company by serving individual lifestyles through their brands globally.
The document provides a weekly market review of the Colombo Stock Exchange for the week ending 6th January 2012. It summarizes that both indices declined for the week, extending the prevailing sluggish momentum. A few of the largest decliners were highlighted. New listings and an acquisition in the tourism sector were also mentioned. Metrics like trading volumes and foreign flows were provided. The document concludes with an analysis of warrant valuations for some companies and a list of members qualifying for the "Billion Rupee Club" based on over LKR1 billion in quarterly profits.
The document provides a market commentary and analysis for October 15, 2012. It summarizes that last week the Indian equity market ended flat after fluctuating up and down. It also discusses some company earnings results and notes that subsequent weeks will determine the market trend. The rest of the document lists the author's stock holdings and provides global market indices data, sector indices, and notable news headlines.
Swedbank reported net profit of SEK 3.4 billion for Q2 2011. Key highlights included a core Tier 1 capital ratio of 14.8% and return on equity of 14.4%. Business areas like Retail and Large Corporates & Institutions performed well, with improved results driven by higher net interest income. Expenses remained flat while lending and deposit volumes were stable year-to-date. Liquidity reserves were further increased and term funding issuance was on plan. Overall, asset quality improved but macroeconomic risks remained.
Gazit Globe Dec 2012 Investor PresentationGazitglobe
Gazit-Globe is a global real estate company focused on supermarket-anchored shopping centers. It has over $19.8 billion in assets under management across more than 600 properties. Gazit-Globe generates over $1.75 billion in annual rent and has over 15,000 lease agreements. The company has a presence in major cities around the world and owns high-quality properties in desirable urban locations with high barriers to entry.
The document provides a market commentary and analysis for the Indian equity market and various companies for December 27, 2012. It summarizes that the two major Indian indices have risen 24% in the past year despite no significant improvement in fundamentals. It predicts the first half of 2013 will be bullish for the market. It also provides updates on company holdings, global market indices, sectoral indices, commodity prices, and other news headlines.
The document provides a daily market commentary and notes from Valuehunt on April 9, 2013. It includes updates on the Indian market indices and global markets, commentary from finance ministers on removing roadblocks for long term projects in India, and value stock picks such as Aditya Birla Nuvo which is divesting its carbon black business. Special situation stocks with corporate actions like buybacks are also highlighted.
The document provides information about Investe São Paulo, the investment promotion agency of the state of São Paulo, Brazil. It summarizes Investe São Paulo's mission to attract new investments and expand existing businesses in São Paulo. It also outlines the agency's areas of activity including investment outreach, projects, institutional activities, and actions to promote competitiveness. Additionally, it provides statistics on recent investment announcements and origin of investments attracted to São Paulo.
Indian markets fell for the sixth straight day, with the NSE Nifty losing over 400 points and the BSE Sensex dropping more than 1400 points. The declines were driven by continued selling pressure from foreign institutional investors taking profits, as well as concerns over inflation, an upcoming interest rate hike, and policy stalemate in the central government. Most global markets also declined, with US stocks ending lower due to worries about a possible bailout of Portugal. Domestically, corporate news included Reliance Life Insurance announcing skills training for insurance agents and Reliance Power signing an agreement for a 100 MW solar power project.
The document is a market commentary and newsletter from Valuehunt dated January 9, 2013. It provides an analysis of Aarti Drugs as an undervalued stock, discusses the company's business operations and potential 57% upside. It also lists CP-Artha Model Portfolio holdings and two special situation stocks - Ganesha Ecosphere trading at a 52-week low and Educomp Solutions announcing the sale of its Eurokids stake. Global indices movements and sectoral index prices are included along with commodity prices, bulk deals, insider trading and upcoming corporate actions.
The key points from the document are:
1) Indian markets ended marginally lower with the BSE Sensex losing 18 points and the NSE Nifty closing 7 points lower, amid low volumes.
2) Global markets were mixed with the Dow and S&P 500 rising in the US, while most Asian markets declined except for Japan and South Korea.
3) The rupee closed slightly higher against the dollar at Rs. 44.48, while Brent crude oil prices fell 2.63% and gold prices rose 1.09%.
В настоящее время весь процесс воспитания и общения в семьях нередко сводится к следующему: накормить, одеть, собрать в школу и т.п. В выходные дни родители с детьми порой не знают, где провести время с интересом и пользой.
Каргопольский государственный историко-архитектруный и художественный музей предлагает программу для семейного порсетителя "В музей за сказкой". Каждое занятие – это путешествие в мир одной русской народной и схожей с ней местной сказки.
Музей, хранящий в своих фондах великое множество старинных предметов, презентует их в привлекательной и порой неожиданной для посетителей форме. Музей становится прекрасным местом для расширения кругозора и совместного общения детей и взрослых.
Как показывает практика, современные дети мало знают и читают русских народных сказок, а уж тем более не знают местного фольклора. Через предметный ряд, прикоснувшись к далекому прошлому, дети и родители знакомятся с русскими народными и местными сказками.
Одна из проблем современности – это дети с различными нарушениями речи и плохим развитием мелкой моторики. Представляя сказки выразительными средствами театра, дети учатся рассказывать, общаться, пополняют свой словарный запас.
Fullerton Securities' Weekly newsletter - 25th September 2010Fullerton Securities
The Indian equity markets ended the week on a positive note, with the BSE Sensex up 2.3% and the NSE Nifty up 2.26%. The top performing sectors were FMCG, consumer durables, and auto. US markets also ended higher, with the Dow Jones up 2.38% and gold touching a record high of over $1,300 an ounce. Crude oil gained 4.1% to close at $76.5 per barrel.
The document is a portfolio statement for a mutual fund as of July 29, 2011. It lists the fund's top 20 holdings by market value, which make up over 50% of the total assets. The portfolio has significant exposure to banks, software, consumer non-durables, pharmaceuticals, and petroleum products. It also provides industry diversification breakdown and notes a portfolio turnover ratio of 0.26 times for the past year.
The document discusses CardSystem's 2Q07 conference call results. It states that CardSystem's card base grew 37.6% in 2Q07 compared to 2Q06, outpacing market growth. Revenue increased 11.4% compared to 1Q07 and 16.9% compared to 2Q06. Gross profit and EBITDA grew faster than revenue in 1Q07, showing improved efficiency. TeleSystem revenue declined 7.1% compared to 2Q06 but increased 13% compared to 1Q07, with negative gross margins. The platform for Caixa was delivered in June and additional investments are being studied.
The document provides a daily market commentary and analysis. It summarizes movements in various global and domestic indices, turnover numbers for foreign and domestic institutional investors, and currency exchange rates. It also lists the top gaining and losing stocks in the Nifty index. Special situation stocks and their commentary are presented. Key news headlines from business dailies are highlighted touching on various sectors. Insider trading activity and upcoming corporate actions are also noted.
The document provides portfolio information for Fidelity India Tax Advantage Fund as of May 31, 2011. Some of the top holdings include Reliance Industries Ltd., ITC Ltd., ICICI Bank Ltd., and HDFC Bank Ltd. The portfolio had a total value of Rs. 12,469.39 lakhs invested across various industries, with the largest allocations to petroleum products, banks, consumer non-durables, and software. The fund manager is Sandeep Kothari, with over 17 years of experience.
BRProperties reported strong financial results in 2010, with gross revenues increasing 78% compared to 2009, reaching R$223.4 million. Adjusted EBITDA was R$177.5 million, an increase of 89% over 2009. Net income increased 388% to R$813.4 million. The company invested over R$2 billion in acquisitions during 2010, exceeding its target. The portfolio was appraised at R$4.78 billion, a 22% increase in market value year-over-year.
BRProperties reported strong financial results in 2010, with gross revenues increasing 78% and adjusted EBITDA increasing 89% compared to 2009. The company invested over $1.7 billion in acquisitions after its IPO, exceeding its capital budget target. The portfolio was appraised at a 22% increase in market value to R$4.78 billion. Net income increased 388% to R$813.4 million while FFO excluding appraisal effects was R$92.2 million, a 45% FFO margin. Vacancy rates declined while leasing spreads on renewals and new leases were positive.
Unitech Limited is one of India's leading real estate companies with over 30 years of experience and a market capitalization of approximately $15 billion. It has a diverse portfolio of residential, commercial, retail, entertainment and hospitality projects across India. Unitech has ambitious plans to expand its pan-India presence and focus on large, mixed-use and self-sustaining projects. The company has a proven track record of consistent financial growth and operational performance.
This document is VF Corporation's 2003 annual report. It discusses the company's financial performance in 2003 and strategies for its brands. The report emphasizes VF Corporation's focus on understanding consumer lifestyles and styling life through their portfolio of brands. It highlights initiatives for major brands like Lee, Wrangler, and Vanity Fair to expand product lines and connect with target audiences. The annual report communicates VF Corporation's vision of continuing to strengthen their position as the world's largest apparel company by serving individual lifestyles through their brands globally.
The document provides a weekly market review of the Colombo Stock Exchange for the week ending 6th January 2012. It summarizes that both indices declined for the week, extending the prevailing sluggish momentum. A few of the largest decliners were highlighted. New listings and an acquisition in the tourism sector were also mentioned. Metrics like trading volumes and foreign flows were provided. The document concludes with an analysis of warrant valuations for some companies and a list of members qualifying for the "Billion Rupee Club" based on over LKR1 billion in quarterly profits.
The document provides a market commentary and analysis for October 15, 2012. It summarizes that last week the Indian equity market ended flat after fluctuating up and down. It also discusses some company earnings results and notes that subsequent weeks will determine the market trend. The rest of the document lists the author's stock holdings and provides global market indices data, sector indices, and notable news headlines.
Swedbank reported net profit of SEK 3.4 billion for Q2 2011. Key highlights included a core Tier 1 capital ratio of 14.8% and return on equity of 14.4%. Business areas like Retail and Large Corporates & Institutions performed well, with improved results driven by higher net interest income. Expenses remained flat while lending and deposit volumes were stable year-to-date. Liquidity reserves were further increased and term funding issuance was on plan. Overall, asset quality improved but macroeconomic risks remained.
Gazit Globe Dec 2012 Investor PresentationGazitglobe
Gazit-Globe is a global real estate company focused on supermarket-anchored shopping centers. It has over $19.8 billion in assets under management across more than 600 properties. Gazit-Globe generates over $1.75 billion in annual rent and has over 15,000 lease agreements. The company has a presence in major cities around the world and owns high-quality properties in desirable urban locations with high barriers to entry.
The document provides a market commentary and analysis for the Indian equity market and various companies for December 27, 2012. It summarizes that the two major Indian indices have risen 24% in the past year despite no significant improvement in fundamentals. It predicts the first half of 2013 will be bullish for the market. It also provides updates on company holdings, global market indices, sectoral indices, commodity prices, and other news headlines.
The document provides a daily market commentary and notes from Valuehunt on April 9, 2013. It includes updates on the Indian market indices and global markets, commentary from finance ministers on removing roadblocks for long term projects in India, and value stock picks such as Aditya Birla Nuvo which is divesting its carbon black business. Special situation stocks with corporate actions like buybacks are also highlighted.
The document provides information about Investe São Paulo, the investment promotion agency of the state of São Paulo, Brazil. It summarizes Investe São Paulo's mission to attract new investments and expand existing businesses in São Paulo. It also outlines the agency's areas of activity including investment outreach, projects, institutional activities, and actions to promote competitiveness. Additionally, it provides statistics on recent investment announcements and origin of investments attracted to São Paulo.
Indian markets fell for the sixth straight day, with the NSE Nifty losing over 400 points and the BSE Sensex dropping more than 1400 points. The declines were driven by continued selling pressure from foreign institutional investors taking profits, as well as concerns over inflation, an upcoming interest rate hike, and policy stalemate in the central government. Most global markets also declined, with US stocks ending lower due to worries about a possible bailout of Portugal. Domestically, corporate news included Reliance Life Insurance announcing skills training for insurance agents and Reliance Power signing an agreement for a 100 MW solar power project.
The document is a market commentary and newsletter from Valuehunt dated January 9, 2013. It provides an analysis of Aarti Drugs as an undervalued stock, discusses the company's business operations and potential 57% upside. It also lists CP-Artha Model Portfolio holdings and two special situation stocks - Ganesha Ecosphere trading at a 52-week low and Educomp Solutions announcing the sale of its Eurokids stake. Global indices movements and sectoral index prices are included along with commodity prices, bulk deals, insider trading and upcoming corporate actions.
The key points from the document are:
1) Indian markets ended marginally lower with the BSE Sensex losing 18 points and the NSE Nifty closing 7 points lower, amid low volumes.
2) Global markets were mixed with the Dow and S&P 500 rising in the US, while most Asian markets declined except for Japan and South Korea.
3) The rupee closed slightly higher against the dollar at Rs. 44.48, while Brent crude oil prices fell 2.63% and gold prices rose 1.09%.
В настоящее время весь процесс воспитания и общения в семьях нередко сводится к следующему: накормить, одеть, собрать в школу и т.п. В выходные дни родители с детьми порой не знают, где провести время с интересом и пользой.
Каргопольский государственный историко-архитектруный и художественный музей предлагает программу для семейного порсетителя "В музей за сказкой". Каждое занятие – это путешествие в мир одной русской народной и схожей с ней местной сказки.
Музей, хранящий в своих фондах великое множество старинных предметов, презентует их в привлекательной и порой неожиданной для посетителей форме. Музей становится прекрасным местом для расширения кругозора и совместного общения детей и взрослых.
Как показывает практика, современные дети мало знают и читают русских народных сказок, а уж тем более не знают местного фольклора. Через предметный ряд, прикоснувшись к далекому прошлому, дети и родители знакомятся с русскими народными и местными сказками.
Одна из проблем современности – это дети с различными нарушениями речи и плохим развитием мелкой моторики. Представляя сказки выразительными средствами театра, дети учатся рассказывать, общаться, пополняют свой словарный запас.
The document summarizes BI&P's 3Q11 results presentation. Key points include:
- BI&P has laid the foundation for its new strategy with a new vision, management team, and strategic plans focused on results and credit quality.
- Net profit increased 45% in the quarter with improvements in net margin, efficiency ratio, and returns.
- The credit portfolio grew 6.6% in the quarter focused on quality corporate clients, with corporate loans growing 35%.
- 70% of loans mature within 360 days and credit quality remains stable with most loans rated A or better and strong collateral coverage.
Five little monkeys are swinging from a tree and teasing Mr. Alligator that he can't catch them. However, Mr. Alligator quietly sneaks up and snatches one monkey from the tree each time. This continues until there is only one monkey left swinging from the tree, which Mr. Alligator also catches, leaving no monkeys remaining.
São Paulo, November 11, 2010 – Banco Indusval S.A., financial institution with activities primarily focused on middle market lending, operating in the Brazilian market for over 40 years, listed at the Stock, Commodities and Futures Exchange - BM&FBOVESPA under tickers IDVL3 and IDVL4, announces its financial results for the third quarter 2010 (3Q10).
The document summarizes BI&P's results for the first quarter of 2014. Key highlights include:
- Expanded credit portfolio grew 1.5% in the quarter and 28.8% year-over-year to R$3.9 billion.
- 99% of new loans in the quarter were rated between AA and B, reflecting a focus on higher quality assets.
- Income from services increased 29.7% over the previous quarter and 94.1% year-over-year.
- The quarterly result was a loss of R$9.9 million mainly due to discontinuing hedge accounting and investments not yet achieving scale from credit portfolio growth.
The document provides an overview of BI&P's 2Q11 results presentation. It begins with standard disclaimer language about forward-looking statements and risk factors. The presentation then discusses BI&P's new strategic direction after a capital increase and partnership with new investors. Key points include expanded credit portfolio, stable funding sources, adequate capital and liquidity levels, and profit impacted by loan loss provisions and conservative liquidity strategies.
Banco Indusval S.A. announced its fourth quarter and full year 2011 financial results. Some key highlights include:
- The credit portfolio grew 12.7% in the fourth quarter and 30.6% for the full year, in line with the strategy of generating better quality assets.
- Net profit increased 41% in the fourth quarter. However, operating expenses and loan loss provisions resulted in a net loss of R$31.7 million for the period.
- The corporate lending segment now represents 28% of the credit portfolio, up from 14% at the end of 2010, as the bank shifts its strategy toward better quality borrowers.
- Funding costs declined due to
The 2011 annual report summarizes BI&P's transformation into a new bank with new branding, new strategic partnerships, and a new management structure and strategy. Key changes included attracting new shareholders including a US private equity fund, strengthening management and teams, and expanding products and markets served. The goal is for BI&P to become an innovative bank known for excellence in corporate credit and deep knowledge of customers and industries.
- Banco BI&P's expanded credit portfolio grew 15.3% in 4Q13 to R$3.9 billion, with organic growth of 9%.
- 87.1% of the expanded portfolio was rated AA-B, reflecting the conservative lending policy.
- Funding totaled R$3.9 billion, growing 26.3% from last quarter, reaching a historic high.
- Net loss was R$10 million due to conservative lending, discontinuing hedge accounting, and consolidation of Intercap's ALL expense.
The document provides an overview of BI&P's 3rd quarter 2012 results. Key highlights include:
- Expanded credit portfolio grew 6.5% quarter-over-quarter to R$3 billion, with higher quality loans.
- Non-performing loans declined and coverage ratios increased.
- Revenue from services grew 40% year-over-year.
- Net profit increased 29% over the previous quarter to R$3.1 million.
- The bank continues improving portfolio quality while expanding in targeted industry niches.
Clients New Credit Policy
Clients New Credit Policy
This document provides an overview of Banco BI&P's results for the fourth quarter of 2013. Some key points:
1) BI&P concluded the second phase of its strategic restructuring program launched in 2011 through joint ventures, acquisitions, and a capital increase.
2) The expanded credit portfolio grew 26.1% year-over-year to R$3.9 billion, with higher quality assets rated AA to B comprising 87.1% of the portfolio.
3) A loss of R$10 million was reported for the quarter due to a more conservative lending approach and additional loan loss provisions related to prior loans
Banco Indusval & Partners (BI&P) held a public meeting with analysts and investors on November 24, 2011 to discuss the bank's transformation into a new stage. BI&P outlined its 44-year history, new capital increase and partnerships with Warburg Pincus and Sertrading, and strengthened management team. The presentation highlighted BI&P's long-term vision over short-term results and comparisons to its peers in the national financial system.
First Bank Group reported results for the 9 months ended December 31, 2009 and quarter ended March 31, 2010. For the 9 months ended December 31, 2009, gross earnings increased 28.8% to N196.4 billion compared to the same period in 2008. However, profit before tax declined 72.6% to N11.6 billion. In the quarter ended March 31, 2010, gross earnings declined 10.65% to N62.4 billion compared to the same quarter in 2009, while profit before tax increased significantly to N15.4 billion. First Bank remains well capitalized with a capital adequacy ratio of 17.67% as of March 31, 2010 and continues its strategy of growing earnings while improving asset
- First Bank Group reported a 28.8% increase in gross earnings for the 9 months ended December 2009 compared to the same period in 2008. However, gross earnings declined 10.65% for the quarter ended March 2010 compared to the prior year quarter.
- Profit before tax declined sharply for the 9 months ended December 2009 at -72.6% but increased for the quarter ended March 2010 compared to the previous quarter.
- Capital adequacy and liquidity ratios remained strong but the loan to deposit ratio increased from 81.3% to 89.7%, indicating higher lending activity.
Carfinco Financial Group Inc. is a uniquely positioned auto finance company that has delivered consistent 20% annual growth. It provides financing to "non-prime" credit customers through over 1,600 dealer partnerships across Canada. Carfinco has refined credit risk management practices and vertically integrated operations that have supported strong and growing financial returns, including impressive annual returns on equity of over 50%. The leadership team emphasizes continued growth and maintaining dividend payments.
The document summarizes Paraná Banco's 1Q08 earnings presentation. Key points include:
- Paraná Banco focuses on payroll-deductible and middle-market loans with a low-risk customer base.
- Its loan portfolio totaled R$1.31 billion in 1Q08, up 8% from 4Q07. Portfolio quality remained high with 3.9% rated D-H.
- Net income was R$23.6 million in 1Q08, up 132.2% from 1Q07 but down 34.6% from 4Q07. Shareholders' equity grew 336.4% to R$815.9 million from 1Q07 to
This document provides a disclaimer and forward-looking statements from Banesto and Santander regarding the presentation. It cautions that the presentation contains forward-looking statements that are based on knowledge at the time and may change. It also notes several risk factors that could adversely affect business performance. The remainder of the presentation summarizes Banesto's management priorities in response to the financial crisis, including strengthening its balance sheet by maintaining liquidity and capital ratios, reducing real estate risk, and maximizing profitability through margin and cost control. It provides data on the bank's liquidity, capital, asset quality, profitability, market share, and customer service ratings. The outlook section establishes profitability, asset quality, capital and liquid
São Paulo, May 11, 2010 – Banco Indusval S.A., financial institution with activities focused on middle market enterprises lending, operating in the Brazilian market for over 40 years, listed at the Stock, Commodities and Futures Exchange - BM&FBOVESPA under tickers IDVL3 and IDVL4, announces its financial results for the first quarter 2010 (1Q10).
Carfinco Financial Group Inc. is an auto finance company that provides loans to non-prime borrowers. The presentation summarizes the company's consistent growth and profitability, analyst forecasts, competitive position in the Canadian market, and leadership team. Key highlights include a 20% annual growth in loan originations and portfolio size, 11 consecutive quarters of record earnings, and analyst price targets of $10-12 per share.
Carfinco Financial Group Inc. is an auto finance company that provides loans to non-prime borrowers. The presentation discusses Carfinco's growing loan portfolio and revenues, increasing earnings per share, and impressive return on equity. Key highlights include a loan portfolio that has grown to $172.5 million, annualized revenues of $67.1 million, quarterly earnings per share of $0.19, and an annualized return on equity of 79.4%. The analysts cited have target share prices ranging from $10 to $12 and view Carfinco positively.
The document discusses Duratex's business segments, capital markets performance, and expansion plans. It outlines Duratex's leadership in the Brazilian panel making and sanitary ware industries, and provides an overview of market conditions and Duratex's financial results, with revenues increasing 7.3% year-over-year in 3Q2007 and plans to invest $830 million from 2007-2009 to increase production capacity.
Carfinco Financial Group Inc. is a uniquely positioned auto finance company that provides loans to non-prime borrowers. It has delivered consistent 20% annual growth. Key highlights include record loan originations and portfolio levels, low delinquency rates, an experienced management team with significant ownership stakes, and 12 consecutive quarters of record earnings. Management sees no signs of an economic downturn and aims to increase the finance receivable portfolio by 20% annually. Analysts have target prices between $11-12 and see Carfinco as a top pick.
Carfinco Financial Group Inc. is a provider of auto financing to non-prime borrowers. The presentation highlights Carfinco's consistent growth, strong financial performance, and positive outlook. Analysts have set target prices between $11-12 per share and forecast continued revenue and earnings growth in 2012. Carfinco has a large and geographically diverse loan portfolio, stringent credit controls, and obtains funding through a $130 million credit facility.
Paraná Banco reported its financial results for 4Q08 and full year 2008. Key highlights include:
- Net income of R$84.1 million in 2008, with the insurance sector contributing 27.2%
- Total assets of R$1.9 billion, growing 5.1%
- Origination of payroll-deductible
The document presents results for the 3rd quarter of 2007 for a Brazilian bank. It summarizes key operational and financial highlights including:
- Originations increased 61.9% year-over-year while loan assignments to funds decreased 51.7%
- Total assets grew 102% to R$1.79 billion while equity increased 276% to R$781.24 million
- Net income increased 174% to R$21.38 billion compared to the prior year
- The credit portfolio grew 16% to R$1.08 billion including loans assigned to funds
- Franchise expansion became a new sales channel with over 50 units operating by the end of the quarter
Banco Indusval reported financial results for 2Q10 and 1H10. Credit portfolio growth was moderate at 2.5% in the quarter, and default rates fell due to economic recovery. Net profit was R$8.3 million in 2Q10, up 13.7% from last quarter. Management comments indicated initiatives to improve products and services should have medium-term benefits, while credit to mid-sized companies grew and default rates declined.
São Paulo, May 11, 2011 – Banco Indusval S.A., financial institution focused on corporate lending, operating in the Brazilian market for over 40 years, listed at the Stock, Commodities and Futures Exchange - BM&FBOVESPA under tickers IDVL3 and IDVL4, announces its financial results for the first quarter of 2011 (1Q11).
This document provides an analysis of the balance sheet of Maruti Suzuki for the years 2009-2010. It begins with an introduction and overview of the company, including its vision, mission, market scenario, and sales analysis. Financial highlights for Maruti Suzuki from 2009-2010 are presented, including net sales, profit before tax, reported net profit, and earnings per share. The document then discusses the objectives of financial analysis and ratio analysis. It provides classifications and calculations of various ratios to analyze Maruti Suzuki's profitability, liquidity, activity, and leverage. The conclusion indicates that the report gives a complete financial analysis of Maruti Suzuki for five years through the use of ratio analysis.
This document contains forward-looking statements about Bank Zachodni WBK's future business development and economic performance that may differ materially from expectations. It cautions that various risk factors could adversely impact the business. The bank aims to strengthen its market position as a universal bank offering retail, business, and investment banking services. Its outlook forecasts low double-digit revenue growth, a cost/income ratio of 41-43%, below-market cost of risk, and around 20% annual profit growth to achieve a 2013 PAT of €480 million.
The document provides an overview of a company's 4Q10 results presentation covering the following topics:
1) Credit growth in Brazil was driven by housing and auto loans, while corporate lending was stable. Default rates declined for individuals and were stable for corporations.
2) The company's loan portfolio grew 14.3% due to increases in local currency loans and trade finance. The portfolio is weighted towards upper middle market segments and diversified industries.
3) Funding remained primarily in local currency, with time deposits comprising the majority. Liquidity was maintained with free cash at 46% of deposits.
4) Financial results improved in 4Q10 and 2010, with higher revenues, stable expenses,
The document proposes a new mathematical model for musyarakah (joint venture) contracts in Islamic banking. The model allows for two different profit sharing rates between the bank and customer. This addresses limitations in previous models that used a single rate, which could be unfair to one party. The document applies the new model to a sample musyarakah product over 6 months with changing profit rates. The results show the new model distributing profits fairly between the bank and customer compared to previous models. This could encourage banks to offer more musyarakah products and promote equity-based contracts in Islamic finance.
1) O banco apresentou redução de 6,8% na carteira de crédito expandida no trimestre devido à política de crédito mais conservadora diante do cenário macroeconômico. 2) A Guide Investimentos anunciou uma importante parceria que deve elevar os ativos sob gestão para R$4 bilhões. 3) O resultado líquido foi negativo em R$6,7 milhões no trimestre, impactado pela necessidade de ganhos de escala e pela contribuição ainda negativa da Guide.
This document provides highlights from BI&P's 1Q 2015 results presentation. Key points include:
- The expanded credit portfolio totaled R$3.9 billion, down 6.8% from the previous quarter due to a more conservative lending policy.
- Funding totaled R$4.1 billion, down 7.2% from the previous quarter.
- Net income was a loss of R$6.7 million, up from a R$5.1 million loss in 1Q 2014. Expenses continue to be controlled while the bank works to achieve economies of scale.
This presentation summarizes BI&P's results for the fourth quarter of 2014. Some key highlights include:
- The expanded credit portfolio totaled R$4.1 billion, growing 3.6% in the quarter and 6.9% year-over-year.
- Loans originated in 4Q14 totaled R$1.4 billion. Nearly all new loans were rated between AA and B.
- Funding totaled R$4.4 billion, up 4.8% in the quarter and 12.6% year-over-year through diversification.
- Income from fees was R$14 million in 4Q14 and R$56 million in 2014, up 94.4%
O documento resume os resultados do 4T14 do banco. Destaca o crescimento da carteira de crédito, a diversificação da captação e a melhoria da qualidade do crédito. Apresenta também as parcerias estratégicas firmadas e os investimentos em tecnologia que permitiram redução de custos. O resultado líquido do trimestre foi positivo, porém abaixo do potencial do banco.
BI&P Banco reported its 4th quarter 2014 earnings. Key highlights include:
- Expanded credit portfolio totaled R$4.1 billion, up 3.6% in the quarter and 6.9% year-over-year.
- Funding totaled R$4.4 billion, increasing 4.8% in the quarter and 12.6% year-over-year.
- Income from services rendered and tariffs was R$14.0 million in 4Q14 and R$56.0 million in 2014, up 94.4% from 2013 mainly from investment banking revenues.
- Guide Investimentos, the bank's investment arm, had assets under management of R$
O BI&P divulgou seus resultados do 4o trimestre de 2014. Sua carteira de crédito expandida totalizou R$4,1 bilhões, um incremento de 3,6% no trimestre. A captação totalizou R$4,4 bilhões, um aumento de 4,8% no trimestre. As receitas de prestação de serviços e tarifas somaram R$14 milhões no trimestre, um aumento de 94,4% em relação a 2013 devido às receitas de investment banking. A Guide Investimentos tem R$1,9 bilhão em
This document provides a summary of BI&P's results for the third quarter of 2014. Some key highlights include:
- The expanded credit portfolio totaled R$4.0 billion, a 1.8% increase over the quarter and 19% increase over September 2013.
- 99% of new loans in the quarter were rated between AA and B, reflecting a focus on credit quality.
- Fee income from investment banking operations totaled R$5.4 million in the quarter.
- The quarterly result was R$1.7 million, though full revenue potential has not yet been achieved due to the need for scale and a negative contribution from the investment branch.
O documento resume os resultados do terceiro trimestre de 2014 de um banco brasileiro. Destaca o crescimento da carteira de crédito em 1,8% no trimestre e 19% em um ano, com foco em ativos de alta qualidade. Também ressalta o aumento das receitas de tarifas, principalmente de investment banking, e o controle de custos.
BI&P is a commercial bank in Brazil with over 45 years of experience. In the third quarter of 2014:
- The expanded credit portfolio totaled R$4.0 billion, up 1.8% in the quarter and 19.0% year-over-year.
- Funding totaled R$4.2 billion, up 1.2% in the quarter and 35.8% year-over-year.
- Income from services rendered and tariffs totaled R$15.3 million in 3Q14 and R$42.1 million in 9M14, growing 79.2% and 101.7% from the same periods in 2013, mainly driven by revenue
Carteira de Crédito Expandida somou R$4,0 bi, incremento de 1,8% no trimestre e 19,0% em 12 meses. Captação totalizou R$4,2 bi, aumento de 1,2% no trimestre e 35,8% em 12 meses. Receitas de Prestação de Serviços e Tarifas somaram R$15,3 mm no 3T14 e R$42,1 mm nos 9M14, incrementos de 79,2% e 101,7% em relação aos mesmos períodos de 2013, em especial devido às receitas da ativ
The document summarizes BI&P's results for the second quarter of 2014. Key highlights include:
- The expanded credit portfolio totaled R$3.9 billion, remaining stable in the quarter but up 21.4% from June 2013. Loans rated AA-B corresponded to 91% of the portfolio.
- Income from services and tariffs totaled R$15.7 million in 2Q14, up 42.3% from the previous quarter. Investment banking now accounts for 50% of this revenue.
- The quarterly result was R$1.1 million, impacted by non-cash accounting effects and investments in new business areas not yet at scale.
- Credit quality remained high,
Este documento fornece um resumo dos resultados do segundo trimestre de 2014 de um banco brasileiro. A carteira de crédito totalizou R$3,9 bilhões, estável no trimestre, mas cresceu 21,4% em um ano. As despesas com provisões para devedores duvidosos gerenciais foram de 0,66% da carteira de crédito, refletindo a qualidade dos empréstimos. As receitas de tarifas e serviços aumentaram 42,3% no trimestre.
The document provides an earnings release for Banco Indusval & Partners (BI&P) for the second quarter of 2014. Some key highlights include:
- The expanded credit portfolio totaled R$3.9 billion, remaining stable in the quarter but up 21.4% year-over-year.
- Income from services rendered and tariffs totaled R$15.7 million in 2Q14, up 42% quarter-over-quarter and 120.8% year-over-year.
- The managerial expense with allowance for loan losses was 0.66% of the expanded credit portfolio in 2Q14, underscoring the quality of the loan portfolio.
Carteira de Crédito Expandida totalizou R$3,9 bilhões, estável no trimestre mas com crescimento de 21,4% em um ano. Receitas de Prestação de Serviços e Tarifas somaram R$15,7 milhões no trimestre, um aumento de 42,3% no trimestre e 117% em relação ao mesmo período do ano anterior. A Despesa de PDD Gerencial foi de 0,66% da carteira de crédito expandida, indicando a qualidade da carteira de crédito.
Banco BI&P acquired Voga Empreendimentos e Participações Ltda. in 2013 to strengthen its investment banking activities. Voga had experience advising clients on over 50 transactions totaling R$5 billion. The acquisition allows BI&P to expand complex financial services and originate, structure, and distribute fixed income products and financing for acquisitions and asset sales. Services now offered through BI&P leverage the partners' expertise in areas like mergers and acquisitions, capital raising, debt restructuring, and initial public offerings.
O relatório descreve a história, estrutura e estratégias do Banco BI&P. Em 2013, o banco concluiu sua reestruturação estratégica iniciada em 2011, adquiriu novas empresas, lançou projetos de transformação e continuou a crescer de forma sustentável.
O documento apresenta os resultados do 1T14 do Banco BI&P, destacando: (1) o crescimento de 1,5% da carteira de crédito no trimestre e 28,8% em 12 meses; (2) a qualidade da carteira, com 90% dos créditos classificados entre AA e B; (3) o prejuízo de R$9,9 milhões no trimestre, impactado pela descontinuidade da designação de hedge accounting e investimentos ainda não no ponto de equilíbrio.
Banco BI&P reported financial results for the first quarter of 2014. While the expanded credit portfolio grew 1.5% over the quarter and 28.8% over the prior year, the quarterly result was a loss of R$9.9 million due to the discontinuation of hedge accounting and investments made during restructuring that have not yet reached scale. Income from services increased 29.7% over the previous quarter and 94.1% over the prior year. The allowance for loan losses was 1.10% of the expanded credit portfolio, in line with the bank's conservative lending policy.
Carteira de Crédito Expandida somou R$3,9 bilhões, com crescimento de 1,5% no trimestre e 28,8% em relação a março de 2013. Receitas de Prestação de Serviços e Tarifas somaram R$12,9 milhões no trimestre, apresentando crescimento de 29,7% no trimestre e 94% em doze meses. Resultado do trimestre foi negativo em R$9,9 milhões, especialmente impactado pelo efeito da descontinuidade da designação de hedge accounting e pelo fato dos investimentos realizados
O documento resume os resultados do quarto trimestre de 2013 do Banco BI&P. Destaca o crescimento da carteira de crédito, a melhoria da qualidade do portfólio com foco em ativos de menor risco, e a diversificação dos produtos e setores de atuação. Apresenta também os principais indicadores operacionais do trimestre, como margem financeira líquida e despesas com provisões, assim como a evolução dos níveis de inadimplência.
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2. Disclaimer
This presentation may contain references and statements representing future
expectations, plans of growth and future strategies of BIM.
These references and statements are based on the Bank’s assumptions and analysis
and reflect the management’s beliefs, according to their experience, to the economic
environment and to predictable market conditions.
As there may be various factors out of the Bank’s control, there may be significant
differences between the real results and the expectations and declarations herewith
eventually anticipated. Those risks and uncertainties include, but are not limited to,
our ability to perceive the dimension of the Brazilian and global economic aspect,
banking development, financial market conditions, competitive, government and
technological aspects that may influence both the operations of BIM, as the market
and its products.
Therefore, we recommend the reading of the documents and financial statements
available at the CVM website (www.cvm.gov.br) and at our Investor Relations page in
the internet (www.indusval.com.br/ir) and the making of your own appraisal.
1
3. Banco Indusval Multistock
Credit in Brazil and the Middle Market
Performance
Loan Portfolio
Funding and Liquidity
Results
Indusval Multistock Corretora de Valores (brokerage)
Capital Market
Sustainability
2
4. Who is Banco Indusval Multistock?
Mid-sized Bank
42 year experience in the
Brazilian financial Market
Focused on 694 companies
Middle Market in the loan
lending portfolio
11 branches
350 employees
Loan Portfolio Total Assets Equity Basel Ratio
R$ 1.8 billion R$ 3.0 billlion R$ 430 million 20.3%
Date: June 30, 2010
3
5. Our Pathway
Indusval Multistock Corretora de Valores acquires Execution Broker Seal from BM&FBOVESPA
2010 and improves its positioning in the BM&F market global Ranking
Strategic partnership established to develop the Brokerage Firm business
2009
Evolution
BIM was ranked 4th among the “Most Sustainable Midsize Banks in Latin America’’ *
Start of BNDES onlending disbursements
2008 First IFC A/B Loan transaction of circa US$ 56 MM in Oct/08
Recognition Award for Best Utilization of IFC GTFP
BIM becomes a publicly held company and celebrates 40 years of operations
2007 Second expansion phase: opening of 6 branches by the end of year
Growth
2006 Beginning geographic expansion – Opening of 4 branches
2004 Consumer finance company sold - Capital infusion of R$60 million doubles the Bank’s shareholders’ equity
2003 Indusval merges with Multistock and starts to operate as BIM – Banco Indusval Multistock
2000 Partnership with Banco Multistock in a Consumer Finance enterprise
1993
Origin
Middle-market credit operations started
1991 Indusval becomes a bank
1971 The partners of Ciampolini & Ribeiro acquire Indusval Corretora
1967 Foundation of Indusval Corretora – a brokerage House
* Management & Excellence Consulting 4
6. About distribution of our capital
Cancellation of treasury shares approved on August 10,2010
# Shares on # Treasury Shares #Shares on
Type
June 30, 2010 cancelled Aug. 10, 2010
Common 27,000,000 -0- 27,000,000
Preferred 15,475,101 (1,262,117) 14,212,984
TOTAL 42,475,101 (1,262,117) 41,212,984
#Shares on Controlling # Shares Free
Type Management
Aug. 10, 2010 Group Free Float Float
Common 27,000,000 (17,116,173) (2,574,369) 7,309,458 27.07%
Preferred 14,212,984 (1,038,047) (159,570) 13,015,367 91.52%
TOTAL 41,212,984 (18,154,220) (2,733,939) 20,324,825 49.32%
5
7. Who are our shareholders?
Shareholders’
Agreement Free Float = 49%
Ciampolini & Foreign Institutional
Controlling Management Individuals
(10)
Ribeiro families Investors Investors
Group (4) (608)
(12) (10) (86)
44% 6% 20% 11% 15% 4%
63% 10% 27% - - -
7% 1% 5% 31% 44% 12%
Manuel Felix Cintra Neto
Luiz Masagão Ribeiro 51%
Carlos Ciampolini
Antonio G. da Rocha
Total
ON
PN
6
8. Shareholder Remuneration
27.0
We have been remunerating
25.5
Shareholders by quarterly
anticipating the payment
6.7
of Interest on Equity 6.4
15.8 6.6
6.5
12.6
11.6 6.1
10.1
6.9
6.6 6.3
5.1
R$ million
2.3 6.0 6.8 6.3
2.3
2.005 2.006 2.007 2.008 2.009 2.010
Pay-out per share
R$ 0.3657 R$ 0.3249 R$ 0.3688 R$ 0.5994 R$ 0.6423 R$ 0.3022
1Q 2Q 3Q 4Q
7
9. About our Corporate Governance Structure
• Listing on Bovespa Level 1 of
Installed on April 15, 2010 General Meeting Corporate Governance
3 effective members
specialized in accounting & auditing of Shareholders • 100% Tag along
Fiscal Board • Arbitration Panel Adherent
9 members
Board of Directors Compensation & Benefits
• 22% independent
Committee
• 22% external
Internal Auditing
Executive Board President Executive Board is supported
9 members by 5 committees:
Traesury, Credit, Compliance &
Long lasting experience in the
Internal Audit, IT & Information
financial market Superintendent Safety and Legal
Trade Finance Treasury
Executive IR & Treasury Commercials Credit
& Structured Administrative
8
10. Banco Indusval Multistock
Credit in Brazil and the Middle Market
Performance
Loan Portfolio
Funding and Liquidity
Results
Indusval Multistock Corretora de Valores (brokerage)
Capital Market
Sustainability
9
11. Credit Volume in the Brazilian Financial System
Individuals credit growth still supported pay
payroll lending and housing loans.
Growth in Corporate credit is mainly supported
by earmarked resources from BNDES, the
Brazilian Social and Economic Development
Bank.
Government owned banks respond for 42% of 1,529
total loans in the system 1,410
1,227
276
R$ billion
607 733
2005 2006 2007 2008 2009 Jun/10
Free Resources Earmarked Resources
Source: Banco Central do Brasil – Credit Information System - SCR
10
12. Segmented development of credit volume in the system
600
50 0
400
300
200
10 0
R$ billion
0
D ec M ar Jun Sep t D ec M ar Jun Sep t D ec M ar Jun*
2007 2008 2009 2 0 10
Free Resources Corporates
Earmarked Resources Individuals
Source: Banco Central do Brasil – Credit Information System - SCR
11
13. Corporate Credit
806 825
788 801
748
696 699 705
639
582 46%
540
508 45%
460 40%
409 427
37%
38% 38%
43%
44%
17% 17% 16%
19%
R$ billion
Mar Jun Sept Dec Mar Jun Sept Dec Mar Jun Sept Dec Mar Apr* May*
2007 2008 2009 2010
Amount per Credit Agreement Up to R$100 tsd From R$100 tsd to R$10 million Over R$10 million
Relation between amount of credit agreement and size of borrower
Up to R$ 100 thousand = Small Enterprises
from R$ 100 tsd to R$ 10 million = Mid-sized Enterprises
above R$ 10 million = Large Corporates
Source: Banco Central do Brasil – Credit Information System - SCR
12
14. Default ratios in the Brazilian financial system
10
9
8
7
6.6
6
%
5 5.0
4
3.6
3
2
1 Corporates Individuals Total
0
n
Fb
n
n
Fb
n
n
Fb
n
Dc
Dc
My
Nv
Dc
My
Nv
Dc
My
l
l
ct
ct
Mr
Mr
Mr
Ju
Ag
Ju
Ag
et
et
Ar
Ar
Ar
a
Sp
a
Sp
a
e
e
Ja
e
p
a
Ju
o
e
Ja
e
p
a
Ju
o
e
Ja
e
p
a
Ju
u
u
O
O
2006
2007 2008 2009 2010
Individual Credit Default: - Quick reduction from June 2009
Corporate Default: - Accelerated increase from September 2009
- Slow decline from November 2009 to March 2010
- Stable at 3.6% from March 2010
Source: Banco Central do Brasil – Credit Information System - SCR
13
15. Banco Indusval Multistock
Credit in Brazil and the Middle Market
Performance
Loan Portfolio
Funding and Liquidity
Results
Indusval Multistock Corretora de Valores (brokerage)
Capital Market
Sustainability
14
16. Total Loan Portfolio
2,080
.
p.a 1,794 1,794
0% 1,736 1,728 1,719 1,763
G R r 10 1,684 1,699
CA ter o
ar 1,519
r qu
pe 1,329
9%
+1
1,059
960 a.
% p.
or 31
arter
717 7% p er qu
CAGR: +
R$ million
1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10
Local Currency Loans Trade Finance Letters of Guarantee and L/Cs issued
15
17. Local Currency Loans and Financing
CAGR -1.0% per quarter
-3.7% in the year
1,460 1,430 1,400 1,405
1,386
R$ million
2Q09 3Q09 4Q09 1Q10 2Q10
Disbursed Credits Assignments Guarantees issued
16
18. Trade Finance
arter
7.5% per qu
CAGR +
year
in the
+33.5%
333 357
298
267 254
R$ million
2Q09 3Q09 4Q09 1Q10 2Q10
Disbursed Loans Import L/Cs issued
17
19. Credit Portfolio Breakdown
By Segment By Economic Activity
Individual
s
Financial 8%
Interm.
Middle Retail Other
Market 1% Services Manufact
95% 23% uring
Other 57%
4%
Trading
11%
18
20. Credit Portfolio Breakdown
By Product By Collateral
BNDES Vehicles
Onlending 2% Aval PN
Trade
4% Real State 21%
Finance
20% 10%
Pledge/
Lien
Guarantees 6%
Issued Monitored
4% Pledge of
Other Goods
4% 10%
Loans &
Discounts Securities
& Deposits Receivable
68% s
4%
47%
19
21. Credit Portfolio Breakdown
By Maturity By Client Concentration
+360 10
days Other largest
28% Up to 90 19%
25%
days
38%
11 - 60
181 to 32%
61 - 160
360
24%
15% 91 to 180
19%
20
22. Quality of Credit Portfolio
Default (+60 days)
Risk Rating 8.1%
6.9%
5.9%
D-H 3.5%
2.6%
12%
A
33%
2Q09 3Q09 4Q09 1Q10 2Q10
Allowance for Loan Losses
C
27% 133.0 133.4
B 118.2
110.7 107.8
28%
R$ million
2Q09 3Q09 4Q09 1Q10 2Q10
21
23. Banco Indusval Multistock
Credit in Brazil and the Middle Market
Performance
Loan Portfolio
Funding and Liquidity
Results
Indusval Multistock Corretora de Valores (brokerage)
Capital Market
Sustainability
22
24. Total Funding
. 1,881 1,881
p.a 1,789 1,772 1,793
% 1,732
R r 84
G o
CA rter 1,600
1,556
a 1,488
r qu
pe
%
+17 1,233
1,040
% p. a.
868 or 35
836 arter
715 8% p er qu
CAGR: +
R$ million
1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10
in Local Currency (Real) in Foreign Currency
23
25. Funding Development and breakdown
arter
per qu
+1.5%
C AGR
year
in the
+6.1%
1,881 1,881
1,772 1,732 1,793
R$ million
2Q09 3Q09 4Q09 1Q10 2Q10
Demand Deposits Interbank Dep. Time Deposits DPGE
LCA & other Onlending funds Foreign Loans
24
27. Asset & Liability Management
720
586
559
533
383
307 293 286
R$ million
90 days 180 days 360 days above 360 days
Assets Liabilities
26
28. Banco Indusval Multistock
Credit in Brazil and the Middle Market
Performance
Loan Portfolio
Funding and Liquidity
Results
Indusval Multistock Corretora de Valores (brokerage)
Capital Market
Sustainability
27
29. Income from Financial Intermediation
2nd quarter 2010
FX Op
17%
Derivativ
+2.1% es
6%
220 225
Loans
+7.8% Securitie
60%
s
17%
102 114 110
94 93
R$ million
1st half 2010
FX Op.
21%
2Q09 3Q09 4Q09 1Q10 2Q10 1H09 1H10
Derivati
ves
4%
Loans
56%
Securiti
es
19%
28
31. Gross Result and Financial Margin
Quarter
NIM GIM
6.8%
%
2.8 4.9%
+1
68.3
60.5
+2.9%
32.1 35.2 33.1 2Q09 3Q09 4Q09 1Q10 2Q10
27.4
R$ million
Semester
6.4
6.9%
2Q09 3Q09 4Q09 1Q10 2Q10 1H09 1H10
5.1%
NIM (Net Interest Margin) = Net of Loan Loss Allowance
GIM (Gross Interest Margin) = including Loan Loss
Allowance
1S09 2S09 1S10
30
32. Other Operating Expenses and Efficiency
Net Operating Expenses Efficiency Ratio
-4.4%
-14.7% 47.5
45.4
61% 63% 61%
55% 58%
46% 45%
24.5 23.2 24.4
22.5 20.9
R$ million
2Q09 3Q09 4Q09 1Q10 2Q10 1H09 1H10 2Q09 3Q09 4Q09 1Q10 2Q10 1H09 1H10
31
33. Profitability
Net Profit Net Recurring Result
-3.1%
5%
+34.
16.1 15.6
%
+2.5 +22.
1%
8.1 7.3 8.3
15.6
4.4 11.6
6.8 7.3 8.3
R$ million
R$ million
2.4
2Q09 3Q09 4Q09 1Q10 2Q10 1H09 1H10 2Q09 3Q09 4Q09 1Q10 2Q10 1H09 1H10
-7.8 -7.8
As reported in the respective periods, 2009 net profit include non-recurring
income net of taxes as follows:
1Q09 – R$ 3.2 MM – sale of BM&FBovespa shares
2Q09 – R$ 1.2 MM – sale of CETIP shares
4Q09 – R$ 2.0 MM – effect of the Bank’s adhesion to the government’s tax
amnesty program (REFIS) for the monetary updating of the pledged deposits
32
34. Banco Indusval Multistock
Credit in Brazil and the Middle Market
Performance
Loan Portfolio
Funding and Liquidity
Results
Indusval Multistock Corretora de Valores
(brokerage)
Capital Market
Sustainability
33
35. Investment plan maintained
Challenging market in 2Q10
The brokerage firm modernization process keeps its pace with
investments in technology and people to develop new products and
markets within its strategic targets:
To broaden the institutional clients and qualified individual investors base
To expand to the retail segment
To become an institutional clients’ liquidity center
Repositioning in the BM&F Ranking
2Q09: 53th position
1Q10: 17th position
2Q10: 33th position
34
36. Banco Indusval Multistock
Credit in Brazil and the Middle Market
Performance
Loan Portfolio
Funding and Liquidity
Results
Indusval Multistock Corretora de Valores (brokerage)
Capital Market
Sustainability
35
38. Banco Indusval Multistock
Credit in Brazil and the Middle Market
Performance
Loan Portfolio
Funding and Liquidity
Results
Indusval Multistock Corretora de Valores (brokerage)
Capital market
Sustainability
37
39. Commitment
Continuous improvement in key sustainability aspects:
Business
Employees
Communities
Environment
We believe to be in the beginning of a right track:
Ranking Management & Excellence - 2009
– 4th Most Sustainable Mid-sized Bank in Latin America
– 2nd Most Sustainable Mid-sized Bank in Brazil
38
40. Business Sustainability
Ethics
Transparency
Corporate Governance
Sustainable business development
Social & Environmental Responsibility Policy: aiming at encouraging
our employees, suppliers, business partners, clients to adopt a
responsible attitude towards
– Social development,
– Citizenship recovery,
– Respect for environment
39
41. Social & Environmental Responsibility Policy and Lending
Clients
Lending prohibited to
enterprises that:
Expectation:
• Utilize infantile or
To contribute for the slavery labor
awareness of people and
• Operate in activities
Expanding the Social enterprises about the
directly or indirectly
Environmental action to importance of the rational
related to gambling &
Corporate customers utilization of natural
prostitution
resources and of the
respect towards the social • Produce or trade
environment and substances that may
citizenship threaten the health and
safety of people, plants
and animals
Social & Environmental Policy
40
42. Sustainability and our Internal Stakeholders
Ethics Code
Fair Benefits to support
Training and
Compensation Health, Safety and
Qualification
Policy Quality of Living
Professional
Social Inclusion Job opportunities Intern and Trainee
Training for people
Initiatives for young people Programs
with disabilities
Social &
Knowledge Leadership
Environmental
Dissemination Development
Awareness
41
43. Sustainability and the Community
Education
Culture Sport
Indusval
Multistock
Institute
Community
Environment Development
Entrepreneurship
42
44. Investor Relations – Contact Information
Ziro Murata Jr. Banco Indusval S/A
IRO Rua Boa Vista, 356 – 7º andar
01014-000- São Paulo – SP
Phone: (55 11) 3315-6961
Brazil
E-mail: ziro@indusval.com.br
Maria Angela R. Valente
Head of IR IR Site:
Phone: (55 11) 3315-6821
www.indusval.com.br/ir
E-mail: mvalente@indusval.com.br
43