Uploaded byItauRI
44 views

Ccal 1 q13_ing

This document provides highlights from Itaú Unibanco Holding's 1st quarter 2013 earnings call. Key points include: - Recurring net income increased 0.3% from the previous quarter to R$3.5 billion, with a recurring ROE of 19.1%. - Managerial financial margin totaled R$11.5 billion, down from R$11.7 billion in 4Q12 and R$12.6 billion in 1Q12. - Credit quality improved with the 90-day NPL ratio down 30 bps from 4Q12 and 60 bps from 1Q12, while allowance for loan losses decreased 14% from 4Q12.

Embed presentation

Download to read offline
Conference Call 1st Quarter 2013 Earnings Results Alfredo Egydio Setubal Executive Vice-President and Investor Relations Officer May | 02 | 2013 Itaú Unibanco Holding S.A.
Itaú Unibanco Holding S.A. Highlights  Recurring Net Income of R$3.5 billion, with a 0.3% increase in the quarter and Recurring ROE of 19.1%.  Managerial financial margin totaled R$11.5 billion in the 1Q13:  Decrease of R$1.1 billion compared to the 4Q12, due to the decrease of R$278 million in the margin with market and of R$803 million in the margin with clients (R$255 million due to fewer calendar days in the quarter).  Compared to the 1Q12, the margin decreased by R$1.7 billion, basically due to the decrease of R$ 361 million in the financial margin with market, the reduction of the Selic rate (decrease of R$507 million), the reduction of cash from the acquisition of minority interest in Redecard (effect of R$289 million) and the changes in the mix of products (impact of R$365 million).  Improvement in credit quality:  The 90-day NPL ratio improved 30 basis points compared to the 4Q12 and 60 basis points in 12 months, consolidating the reduction trend started in late 2012, despite of the unfavorable seasonality traditionally present in the first quarter.  The Allowance for Loan and Losses decreased 14.0% in the quarter and 20.5% compared to the 1Q12, consistent with the decrease in the NPL ratio.  The Financial Margin of Credit, net of Expenses for Allowance for Loan Losses, has shown relative stability in the last quarters and reached R$5.8 billion in the 1Q13, an increase of 1.6% from the 1Q12.  Banking Service Fees remained at the level of R$5.1 billion that had been reached in the 4Q12, despite the seasonality of the period, which benefits revenues at the end of the year. Compared to the 1Q12, banking service fees increased 18.8%. Results from Insurance, that includes Pension Plans and Capitalization, totaled R$1.4 billion in the 1Q13, an increase of 5.9% from the 1Q12.  Non-Interest Expenses decreased R$211 million compared to the 4Q12, due to the reduction in Administrative and Operating Expenses. The increase in 12 months reached 4.1%, lower than the inflation rate in the period.  In the 1Q13, the Risk-adjusted Efficiency Ratio decreased 60 basis points compared to the previous quarter.
Itaú Unibanco Holding S.A. 1Q13 4Q12 1Q12 1Q13 - 4Q12 1Q13 - 1Q12 Operating Revenues 18,817 19,932 19,518 -5.6% -3.6% Financial Margin with Clients 10,929 11,732 12,259 -6.8% -10.8% Financial Margin with Market 597 875 958 -31.8% -37.7% Banking Service Fees ¹ 5,122 5,149 4,311 -0.5% 18.8% Income from Insurance ² 2,169 2,176 1,989 -0.3% 9.0% Loan Losses and Retained Claims (4,420) (5,027) (5,463) -12.1% -19.1% Expense for Allowance for Loan Losses (4,939) (5,741) (6,210) -14.0% -20.5% Recovery of Credits Written Off as Losses 1,086 1,210 1,212 -10.3% -10.4% Retained Claims (567) (496) (465) 14.3% 22.0% Other Operating Expenses (9,568) (9,898) (9,228) -3.3% 3.7% Non-interest Expenses (8,280) (8,491) (7,956) -2.5% 4.1% Tax Expenses and Others ³ (1,288) (1,407) (1,272) -8.4% 1.2% Income before Tax and Profit Sharing 4,828 5,008 4,827 -3.6% 0.0% Income Tax and Social Contribution (1,295) (1,459) (1,302) -11.2% -0.5% Minority Interests in Subsidiaries (21) (47) 19 -56.0% -210.6% Recurring Net Income 3,512 3,502 3,544 0.3% -0.9% Non-recurring Events (40) (10) (118) - - Net Income 3,472 3,492 3,426 -0.6% 1.4% Variation Results ¹ Banking Service Fee considers Income from Banking Charges ² Income from Insurance includes the Results from Insurance, Pension Plan and Capitalization Operations before Retained Claims and Selling Expenses. ³ Includes Tax Expenses (ISS, PIS, COFINS and other) and selling expenses with insurance. R$ million
Itaú Unibanco Holding S.A. R$ million Banking Operations & Insurance Operations ¹ Banking Service Fees considers Income from Banking Charges ² Income from Insurance includes the Results from Insurance, Pension Plan and Capitalization Operations before Retained Claims and Selling Expenses. ³ Includes Tax Expenses (ISS, PIS, COFINS and other) and selling expenses with insurance. 4 Considers the proportional result of our interest in Porto Seguro. Consolidated Banking Operations (without excess capital) Insurance Operations 4 Excess Capital Operating Revenues 19,635 16,501 2,968 166 Managerial Financial Margin 11,526 11,360 - 166 Banking Service Fees ¹ 5,122 5,122 - - Income from Insurance ² 2,987 19 2,968 - Loan and Retained Claim Losses (4,812) (3,861) (951) - Result from Loan and Lease Losses (3,854) (3,854) - - Retained Claims (958) (8) (951) - Other Operating Expenses (9,965) (8,798) (1,159) (8) Non-interest Expenses (8,509) (7,976) (533) - Tax Expenses and Others 3 (1,456) (822) (626) (8) Income before Tax and Profit Sharing 4,857 3,841 858 158 Income Tax and Social Contribution (1,313) (950) (299) (63) Profit Sharing and Minoritary Interests (33) (20) (13) - Recurring Net Income 3,512 2,871 546 95 ROE / RAROC 19.1% 20.1% 36.6% 3.7% Risk-Adjusted Efficiency Ratio 73.8% 75.3% 70.1% - 1Q13
Itaú Unibanco Holding S.A. Financial Margins 12.7% 12.8% 13.4% 13.4% 12.6% 12.3% 11.6% 9.8% 9.1% 6.5% 6.0% 12.7% 11.9% 11.7% 11.0% 11.4% 11.3% 10.8% 7.5% 7.9% 7.8% 7.3% 7.4% 6.9% 6.9% 7.0% 5.9% 8.0% 8.1% 7.4% 6.9% 6.9% 6.8% 7.6% 11.2% 12.0% 10.7% 9.8% 8.3% 6.5% 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Gross Credit Spread NIM with clients Net Credit Spread Risk adjusted NIM with clients CDI
Itaú Unibanco Holding S.A. 10,929(78) (322)(73)(255)21011,732 (286) 4Q12 Volume Calendar Days Products Mix Mix of Clients and Spreads Selic and Other Equity in Earnings of Affiliates 1Q13 24.9 26.7 27.2 24.5 22.8 22.0 17.0 14.0 13.1 10.5 11.1 11.1 7.3 7.3 6.1 7.1 7.4 8.0 5.8 7.4 7.6 3.2 3.7 4.4 Mar/12 Dec/12 Mar/13 Corporate Very Small, Small and Middle Market Vehicles Credit Card Personal Loans Mortgage Loans Argentina/Chile/Uruguay/Paraguay Ow n Payroll Loans Variation of Financial Margin % R$ million Margin Evolution (Quarter) Evolution of Loan Portfolio Mix ¹ ¹ Excluding endorsements and sureties
Itaú Unibanco Holding S.A. 5,394 5,967 6,148 5,734 6,040 5,724 5,814 3,715 3,657 3,880 4,839 4,862 4,781 4,531 5,745 5,827 3,173 3,854 10,34410,50410,90210,57310,0279,624 9,1088,918 9,681 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Expenses for Allowance for Loan Losses net of Recovery of Credits Written Off as Losses Financial Margin of Credit (-) Expenses for Allowance for Loan Losses net of Recovery of Credits Written Off as Losses Financial Margin of Credit and Allowance for Loan Losses R$ million The Financial Margin of Credit, net of Expenses for Allowance for Loan Losses, has shown relative stability in the last quarters, as a result of the adoption of a policy of stricter selectivity in origination.
Itaú Unibanco Holding S.A. Financial Margin with Market 990 864 822 1,028 839 0 161 151 175 0 1,142 1,039 958 1,128 849 875 779 136 100 36 597 940 700 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Sale of Cetip/ BM&FBovespa Shares Financial Margin with Market (ex-Sale of Shares) Average Financial Margin with Market (ex-Sale of Shares) Average 830 R$ million
Itaú Unibanco Holding S.A. 4,960 5,227 5,530 5,795 5,590 5,568 5,532 6,551 6,476 28.7% 29.3% 29.1% 30.2% 28.6% 28.1% 28.8% 32.9% 34.4% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Banking Service Fees + Result from Insurance, Net (Banking Service Fees + Result from Insurance, Net)/Operating Revenues 1Q13 4Q12 1Q12 1Q13 - 4Q12 1Q13 - 1Q12 Asset Management 567 592 496 -4.1% 14.5% Current Account Services 978 907 750 7.8% 30.4% Loan Operations and Guarantees Provided 631 651 687 -3.1% -8.2% Collection Services 340 388 345 -12.4% -1.5% Credit Cards 2,087 2,037 1,534 2.4% 36.1% Orbitall's Processing Service 23 24 115 -4.0% -80.2% Other 518 574 500 -9.6% 3.7% Banking Service Fees Income¹ 5,122 5,149 4,311 -0.5% 18.8% Result from Insurance, Net ² 1,354 1,402 1,279 -3.4% 5.9% Total 6,476 6,551 5,590 -1.1% 15.9% Variation Banking Service Fees and Result from Insurance* ¹ Desconsidering the impact of Orbitall’s Services, Banking Service Fees Income would have increased 21.5% over the first quarter of 2012. Even if the effect of the proportional increase of Redecard’s contribution were disregarded, the increase would have been of 8.8%. ² Income from insurance, pension plan and capitalization operations (-) Retained claims (-) Selling expenses with insurance, pension plan and capitalization. R$ million * Banking Service Fees also considers Income from Banking Charges and the Result from Insurance includes Insurance, Pension Plan and Capitalization after Retained Claims and Selling Expenses. .
Itaú Unibanco Holding S.A. 3,638 3,317 3,940 3,746 3,544 3,585 3,412 3,502 3,512 11.4% 13.1% 14.3% 16.4% 15.2% 13.8% 13.7% 16.0% 15.5% 84.0%86.3%86.2%84.8%88.6% 86.9% 85.7% 83.6% 84.5% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Recurring Net Income Banking Operations Recurring Net Income Insurance Operations 38.4% 33.3% 41.0%39.3% 35.2% 25.5% 33.2%33.0%35.5% Claims Ratio (does not include our 30% interest in Porto Seguro) 38.4% 82.4% 28.1% 15.9% Insurance Claims Ratio Selling Expenses/Earned Premiums Administrative Expenses and Others/Earned Premiums Combined Ratio Net Income of Insurance Composition * 1Q13 Combined Ratio Composition¹ 1Q13 Insurance Operations* R$ million 2.4% 3.3% 8.3% -7.4% 2.9% -28.2% -13.3% 84.4% - 0.2% 4.4% D Q R$ million Net Income Evolution -2.7% ¹ Others: Other Operating Income/Expenses, Tax Expenses and Non-operating Income ¹ Does not include our 30% interest in Porto Seguro and our health insurance operation. *Considers operations from Insurance, Pension Plan and Capitalization 500 bps -370 bps 150 bps 280 bps D Q 527 951 546 2,382 58 302 225 1,206 515 858 312 Earned Premiums Insurance, Contribution Pension Plans and Capitalization Service Fees Retained Claims Selling Expenses Technical Result Financial Margin Non-Interest Expenses Others¹ Income Before Income Tax and Social Contribution Income Tax/Social Contribution and Profit Sharing Recurring Net Income *
Itaú Unibanco Holding S.A. (5.2) (5.1) (5.6) (3.3) (3.8) (3.8) (4.0) (5.0) (5.0) (4.9) (4.5) (3.9) (4.5) (6.2) (6.1) (5.7) (4.9) (6.1) 1.69% 1.57% 1.64% 1.79% 1.74% 1.71% 1.58% 1.34% 1.09% 1.23% 1.16% 1.44% 1.42% 1.38% 1.25% 1.04% 1.50% 1.17% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 10.3 11.3 12.3 13.1 12.9 14.9 14.2 6.8 7.4 7.3 7.6 8.0 8.0 7.7 8.1 7.95.1 5.1 5.1 5.1 5.1 5.1 5.1 14.0 14.6 5.1 5.122.2 23.8 24.7 25.8 26.0 27.1 27.7 27.7 27.2 Mar/11 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 R$ billion Complementary portion of the provision— expected loss model Allowance for loan losses – Loan Portfolio Rating A–G ¹ Allowance for loan losses – Loan Portfolio Rating H ¹ Result from Loan and Lease Losses Expenses for provision for loan losses Expenses for Provision for Loan Losses Loan Ratios Balance of Allowance for Loan Losses ¹ Resolution 2,682/99 CMN Expenses for provision for loans losses / Credit portfolio 1 Result from Loan and Lease Losses / Credit portfolio 1 ¹ Average balance of the Loan Portfolio of the two previous quarters. R$ billion
Itaú Unibanco Holding S.A. 91% 89% 87% 88% 87% 87% 89% 90% 92% 42% 41% 37% 35% 32% 32% 33% 39% 39% 39% 35% 32% 30% 29% 27% 27% 29% 30% 173% 166% 156% 153% 148% 147% 149% 158% 161% Mar/11 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 5.8% 6.3% 6.6% 6.7% 7.3% 7.5% 6.9% 6.7% 5.4% 4.2% 4.2% 4.5% 4.7% 4.9% 5.1% 5.2% 5.1% 4.8% 4.5% 3.1% 4.1% 4.0% 3.3% 3.2% 2.8% 2.9% 3.1% 3.5% 3.5% 3.5% 3.7% 3.5% 3.3% 3.2% 2.9% 8.1% 8.0% 7.4% 6.7% 6.3% 6.0% 5.8% 5.7%5.9% 5.6% 4.8% 4.6% 4.2% Jun/09 Sep/09 Dec/09 Mar/10 Jun/10 Sep/10 Dec/10 Mar/11 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 Loan Ratios 90-day NPL Ratio 90-day Coverage Ratio Complementary Allowance Coverage Specific Allowance Coverage Generic Allowance Coverage Individuals Total Companies
Itaú Unibanco Holding S.A. 7.2% 7.2% 6.9% 7.9% 7.5% 7.2% 6.3% 6.7% 5.9% 3.9% 4.7% 4.5% 4.3% 4.4% 4.8% 4.5% 4.2% 3.6% 4.0% 3.1% 2.3% 2.1% 2.5% 2.0% 2.2% 1.7% 2.4% 2.4% 2.1% 2.3% 2.3% 2.2% 1.8% 1.5% 1.9% 7.5% 6.5%6.7% 7.5% 8.1%7.7% 8.6% 9.3% 4.2%4.5% 5.1% 4.7% 5.2% Jun/09 Sep/09 Dec/09 Mar/10 Jun/10 Sep/10 Dec/10 Mar/11 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 2.1% 1.9% 1.7% 1.2% 1.6% 1.2% 1.4% 1.5% 1.6% 1.7% 1.6% 1.9% 1.6% 1.5% 1.4% 1.4% 5.0 4.6 4.6 5.1 5.5 5.4 5.8 5.35.1 5.4 6.6 4.0 3.3 4.1 2.9 4.0 6.06.1 5.35.9 4.44.0 3.6 4.2 3.3 3.6 4.24.64.2 3.13.0 4.9 Jun/09 Sep/09 Dec/09 Mar/10 Jun/10 Sep/10 Dec/10 Mar/11 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 R$ billion 15 to 90-day NPL Ratio Loan Ratios NPL Creation and Write Off Individuals Total Companies NPL Creation NPL Creation/Loan Portfolio¹ Write Off ¹ Average balance of the Loan Portfolio of the two previous quarters
Itaú Unibanco Holding S.A. 66.3% 66.2% 67.0% 69.6% 70.3% 67.9% 70.0% 78.2%77.2% (Banking Service Fees + Result from Insurance*) / Non-interest Expenses (7,479) (7,895) (8,253) (8,327) (7,956) (8,205) (7,898) (8,491) (8,280) 45%40%44%42%43%40%43%43%44% 43% 43% 43% 46% 43% 44% 44% 44% 41% 13% 14% 15% 14% 15% 14% 12% 16% 14% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Personnel Expenses Other Administrative Expenses Other Operating and Tax Expenses , 1Q13 4Q12 1Q12 1Q13 - 4Q12 1Q13 - 1Q12 Personnel Expenses (3,720) (3,430) (3,402) 8.5% 9.3% Administrative Expenses (3,429) (3,699) (3,392) -7.3% 1.1% Personnel Expenses and Administrative (7,150) (7,129) (6,794) 0.3% 5.2% Operating Expenses¹ (1,011) (1,291) (1,064) -21.7% -5.0% Other Tax Expenses² (119) (71) (97) 67.6% 22.8% Non–Interest Expenses³ (8,280) (8,491) (7,956) -2.5% 4.1% Variation Non–Interest Expenses R$ million ¹ Considers expenses with provision for contingencies, credit card selling, claims and other. ² Includes IPTU, IPVA, IOF and other. Does not include PIS, Cofins and ISS. ³ If the effect of proportional consolidation of the results of Redecard in 2012 were excluded, the Non-Interest Expenses would have increased 2.1% compared to the 1Q12. * Banking Service Fees also considers Income from Banking Charges and the Result from Insurance includes Insurance, Pension Plan and Capitalization, after retained claims and selling expenses.
Itaú Unibanco Holding S.A. Efficiency Ratio and Risk-Adjusted Efficiency Ratio 48.0 72.8 47.2 48.2 47.1 47.0 44.4 44.9 45.0 46.6 69.6 73.1 70.1 70.7 73.9 74.2 75.3 73.4 46.1 69.8 70.7 70.5 70.9 71.9 72.3 73.5 74.2 73.9 49.2 49.3 48.5 47.4 46.6 45.8 45.3 45.2 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Quarter E.R. (%) Quarter R.A.E.R. (%) E.R. Cumulative figure of the last 12 months (%) R.A.E.R. Cumulative figure of the last 12 months (%)
Itaú Unibanco Holding S.A. 72,484 74,220 74,416 Mar 31, 12 Dec 31, 12 Mar 31, 13 896,842 1,014,425 1,028,707 Mar 31, 12 Dec 31, 12 Mar 31, 13 Highlights Assets + 14.7% + 1.4% + 2.7% + 0.3% ¹ In the fourth quarter of 2012, the acquisition of the minorities’ interest in Redecard was accounted for as a capital transaction because it did not represent a change in the control of the company, and the difference between the value paid and the value corresponding to minority shareholders’ interest net of tax effects impacted our equity in R$7,360 million on December 31, 2012. R$ million Stockholders’ Equity ¹
Itaú Unibanco Holding S.A. Variation Mar 31, 13 Dec 31,12 Mar 31, 12 Mar 31,13 - Dec 31,12 Mar 31,13 - Mar 31, 12 Individuals 152,749 150,388 149,208 1.6% 2.4% Credit Card 41,362 40,614 36,574 1.8% 13.1% Personal Loans 43,690 40,508 38,988 7.9% 12.1% Vehicles 48,532 51,220 59,054 -5.2% -17.8% Mortgage Loans 19,165 18,047 14,591 6.2% 31.3% Companies 250,630 246,914 229,594 1.5% 9.2% Corporate 163,684 157,954 139,615 3.6% 17.2% Very Small, Small and Middle Market 86,946 88,959 89,979 -2.3% -3.4% Argentina/Chile/Uruguay/Paraguay 30,860 29,293 21,717 5.3% 42.1% Total with Endorsements and Sureties 434,239 426,595 400,519 1.8% 8.4% Corporate — Private Securities 21,924 22,652 17,067 -3.2% 28.5% Total with Endorsements, Sureties and Private Securities 456,162 449,247 417,586 1.5% 9.2% Total with Endorsements, Sureties and Private Securities (ex-Vehicles) 407,630 398,027 358,532 2.4% 13.7% Loans by Type of Client / Product Note: The payroll loan portfolio acquired from BMG is accounted as personal loans and, for comparison purposes, the previous periods were reclassified. The payroll loan portfolio acquired from other banks is classified as corporate risk. R$ million
Itaú Unibanco Holding S.A. Variation Mar 31, 13 Dec 31,12 Mar 31, 12 Mar 31,13 - Dec 31,12 Mar 31,13 - Mar 31, 12 Demand Deposits 33,718 34,916 26,903 -3.4% 25.3% Savings Deposits 87,072 83,451 68,488 4.3% 27.1% Time Deposits 109,321 117,232 127,385 -6.7% -14.2% Debentures (Repurchase Agreements) 122,316 129,222 110,480 -5.3% 10.7% Funds from Bills ¹ 36,151 37,539 37,318 -3.7% -3.1% (1) Total - Funding from Institucional Clients and Account Holders (*) 388,578 402,360 370,574 -3.4% 4.9% Onlending 38,826 36,048 34,932 7.7% 11.1% (2) Total – Funding from Institutional & Account Holders 427,403 438,408 405,505 -2.5% 5.4% Assets Under Administration ² 581,918 561,958 524,894 3.6% 10.9% Technical Provisions for Insurance, Pension Plan and Capitalization 96,624 93,210 77,830 3.7% 24.1% (3) Total – Clients 1,105,945 1,093,576 1,008,229 1.1% 9.7% Deposits from Banks 8,444 7,600 8,569 11.1% -1.5% Funds from Acceptance and Issuance of Securities Abroad 16,069 15,999 10,953 0.4% 46.7% Total Funds from Clients + Banks 1,130,458 1,117,175 1,027,751 1.2% 10.0% Repurchase Agreements ³ 174,844 161,165 103,253 8.5% 69.3% Borrow ings 24,065 23,077 17,142 4.3% 40.4% Foreign Exchange Portfolio 40,634 31,104 49,364 30.6% -17.7% Subordinated Debt 52,031 54,372 44,984 -4.3% 15.7% Collection and payment of Taxes and Contributions 4,896 399 5,837 1127.1% -16.1% Free Assets 4 62,735 61,910 62,579 1.3% 0.2% Free Assets and Other 359,206 332,027 283,159 8.2% 26.9% Total Funds (Free, Raised and Managed Assets) 1,489,664 1,449,203 1,310,910 2.8% 13.6% R$ million Funding and Assets Under Management (*) Funds from Institutional Clients totaled R$23,339 million, which corresponds to 6.0% of the total raised with Account Holders and Institutional Clients. ¹ It includes funds from Real Estate, Mortgage, Financial, Credit and Similar Notes. ² In December 2012, we began consolidating the exclusive investment funds for the implementation of consolidated subsidiaries. ³ It does not include own issued debentures, classified as funding. 4 Stockholders’ Equity + Minority Interests - Permanent Assets.
Itaú Unibanco Holding S.A. 295 304 334 362 359 364 384 395 105 109 112 119 99 101 90 89 88400 414 446 481 458 465 474 496 483 407 304 317 335 345 347 357 360 371366 Mar/11 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 102.9% 104.1% 100.5% 95.5% 96.7% 98.0% 93.6% 94.1% 75.9% 76.6% 75.2% 71.9% 75.9% 76.8% 75.9% 73.9% 76.9% 90.1% R$ billion Ratio between Loan Portfolio and Funding ¹ Includes resources obtained from account holders and institutional clients, onlending, foreign borrowings and securities, borrowings and subordinated debts that are not included in TIER II Reference Equity. Considers the deductions of reserve requirements , cash and cash equivalents. ² Considers gross funding (disregarding the deductions of reserve requirements, cash and cash equivalents). Funding¹ Reserve Requirements and Cash Loan Portfolio Loan Portfolio / Funding (%) Loan Portfolio / Gross Funding² (%) + 1.4% - 2.9%
Itaú Unibanco Holding S.A. 16.1% 16.7% 17.7% 12.5% 10.9% 11.7% Mar/12 Dec/12 Mar/13 BIS Tier I Quarter Evolution RE RWE BIS Ratio December, 2012 109.4 654.9 16.7% Subordinated Debt approved 0.7 0.1% Net Income for the period 1 3.5 0.6% Capital Transaction (Aquisition of minorities' interests Redecard) -0.2 0.0% Asset Valuation Adjustment (AFS) -0.9 -0.1% Interest on Net Equit and Dividends -2.4 -0.4% Other changes in referential equity 0.5 0.1% Changes in RWE -31.3 0.8% March, 2013 110.6 623.5 17.7%  If the remaining realization of assets and the complementary allowance for loan losses were considered, the ratio would have been 18.7%. BIS Ratio R$ billion RE= Referential Equity RWE = Risk Weighted Exposure 1 Net income considered in the Economic Financial Consolidated Evolution of BIS Ratio and Tier I (Economic Financial Consolidated) Note: Based on the financial conglomerate concept (―consolidado operacional‖), the BIS ratio reached 18.9% on March 31, 2013.
Itaú Unibanco Holding S.A. 4.5% 2.5% 11.8% 11.1% 9.9% 4.5% 0 - 2.5% 7.0 - 9.5% Rules 2013, Mar Rules 2013, Oct Rules 2019, Dec Until 2015, Dec 2019, Dec 8.0% 2.5% 17.7% 17.2% 15.8% 11.0% 0 - 2.5% 10.5 - 13.0% Rules 2013, Mar Rules 2013, Oct Rules 2019, Dec Until 2015, Dec 2019, Dec Basel III – Estimated impacts from full implementation • In March 2013, the Brazilian Central Bank published the rules for Basel III in Brazil, aiming to ensure adequate minimum capital levels for financial institutions through the deduction of prudential adjustments from the capital base and the creation of stiffer clauses for capital eligible debts. • Additionally, the minimum capital required for credit risk coverage calculation was changed. Part of the rules became effective on the date of the announcement (with positive impacts on the ratio) and another part will become effective in October, 2013 (with negative impact on the ratio). • Itaú Unibanco maintains a confortable capital ratio position, both regarding its Total Capital ratio (Tier I + Tier II) and its Core Capital ratio, even anticipating all impacts of the new rule that will occur gradually until 2019. Core Capital – Common Equity Tier ITotal Capital Regulatory Capital Required * Capital Buffers *Represents BIS II Level I Note: Capital ratios were calculated for the Economic Financial Consolidated of Itaú Unibanco Holding Regulatory Capital Required
Itaú Unibanco Holding S.A. Recurring ROE 20.4% 23.5% 21.8% 20.0% 19.4% 19.1% 23.4% 18.5% 19.3% 19.1% 23.3% 22.3% 22.6% 22.3% 21.4% 21.1% 20.0% 19.4% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Recurring Return on Average Equity (quarterly) Recurring Return on Average Equity (12 month moving average)
Itaú Unibanco Holding S.A. Market Capitalization and Average Daily Trading Volume R$ million Average Daily Trading Volume (1) As of March 28, 2012, Itaú Unibanco was the 15th largest bank in the world in terms of market capitalization (Source: Bloomberg) Market Capitalization (R$ billion) NYSE (ADR) BM&FBOVESPA (Non-voting + Common) R$ billion (1) 106 224 452 632 368 443 458 435 397 79 95 189 242 191 207 277 285 300 41 36 51 185 319 641 874 559 650 735 720 697 9 13 19 32 23 32 23.8 41.2 54.5 80.8 115.3 140.5 107.9 175.1 179.6 152.8 150.6 161.4 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Mar/13
Itaú Unibanco Holding S.A. Expectations 2013 Total Credit Portfolio Growth of 11% to 14% Between R$ 19 billion and R$ 22 billion Growth of 15% to 18% ¹ Growth of 4% to 6% Improvement of 200 to 400 basis points Non-Interest Expenses Risk-Adjusted Efficiency Ratio Banking Service Fees and Result of Insurance ² Expenses for Provision for Loan Losses ¹The expectation regarding Banking Service Fees for 2013 was restated from between 11% and 14% to between 15% to 18%, due to the reclassification of the revenues from Redecard, in accordance with Itaú Unibanco’s proportional interest in the company. ² Banking Service Fees (+) Income from insurance, pension plan and capitalization operations (-) Retained claims (-) Selling expenses with insurance, pension plan and capitalization Expectations for 2013
Conference Call 1st Quarter 2013 Earnings Results Alfredo Egydio Setubal Executive Vice-President and Investor Relations Officer May | 02 | 2013 Itaú Unibanco Holding S.A.

More Related Content

PDF
Ccal 2 q12_ing
byItauRI
 
PDF
Conference Call 1Q16
byItauRI
 
PDF
Fourth Quarter 2015
byinvestorrelationsdiscover
 
PDF
First Quarter 2016 Earnings Presentation
byinvestorrelationsdiscover
 
PDF
Fy16 q3 supplemental web presentation
bymaxim2015ir
 
PDF
2017 First Quarter Earnings Presentation
bysanmina2017ir
 
PDF
Investor deck may 2017 v5
bysynacor2016ir
 
PDF
citigroup October 20, 2003 - Third Quarter Financial Supplement
byQuarterlyEarningsReports
 
Ccal 2 q12_ing
byItauRI
 
Conference Call 1Q16
byItauRI
 
Fourth Quarter 2015
byinvestorrelationsdiscover
 
First Quarter 2016 Earnings Presentation
byinvestorrelationsdiscover
 
Fy16 q3 supplemental web presentation
bymaxim2015ir
 
2017 First Quarter Earnings Presentation
bysanmina2017ir
 
Investor deck may 2017 v5
bysynacor2016ir
 
citigroup October 20, 2003 - Third Quarter Financial Supplement
byQuarterlyEarningsReports
 

What's hot

PDF
Conference Call 1Q17
byItauRI
 
PDF
Conference Call 4Q17
byItauRI
 
PDF
1 q17 earnings presentation final
byinvestorrelationsdiscover
 
PDF
First Quarter 2015 Financial Results Investor Call
bySquareTwoFinancial
 
PDF
Third quarter 2016 earnings presentation final
byinvestorrelationsdiscover
 
PDF
CIT%202Q08%20RESULTS
byfinance28
 
PDF
morgan stanley Earnings Archive 2002 2nd
byfinance2
 
PDF
citi group January 21, 2003 - Fourth Quarter Press Release
byQuarterlyEarningsReports
 
PDF
Second Quarter Fiscal 2017
bysanmina2017ir
 
PDF
morgan stanley Earnings Archive2002 1st
byfinance2
 
PDF
Second quarter 2016 earnings presentation
byinvestorrelationsdiscover
 
PDF
Fy16 q4 supplemental web presentation
bymaxim2015ir
 
PDF
1 q16 presentation final
byaoncorp
 
PDF
1 q18 earnings presentation final
bycorridorinfra2016ir
 
PDF
Q317 Earnings Presentation
bymaxim2015ir
 
PDF
TDS - USC Q4 2016 operating results final
byTelephoneDataSystems
 
PDF
1Q 2016 Earnings Conference Call Presentation
byinvestors_principalfinancial
 
PDF
캐피탈 검토보고서 En
byHyundai Finance
 
PDF
Review reports 2 q2016 en
byHyundai Finance
 
PDF
Banco ABC - 1st Quarter 2008 Results Presentation
byBanco ABC Brasil
 
Conference Call 1Q17
byItauRI
 
Conference Call 4Q17
byItauRI
 
1 q17 earnings presentation final
byinvestorrelationsdiscover
 
First Quarter 2015 Financial Results Investor Call
bySquareTwoFinancial
 
Third quarter 2016 earnings presentation final
byinvestorrelationsdiscover
 
CIT%202Q08%20RESULTS
byfinance28
 
morgan stanley Earnings Archive 2002 2nd
byfinance2
 
citi group January 21, 2003 - Fourth Quarter Press Release
byQuarterlyEarningsReports
 
Second Quarter Fiscal 2017
bysanmina2017ir
 
morgan stanley Earnings Archive2002 1st
byfinance2
 
Second quarter 2016 earnings presentation
byinvestorrelationsdiscover
 
Fy16 q4 supplemental web presentation
bymaxim2015ir
 
1 q16 presentation final
byaoncorp
 
1 q18 earnings presentation final
bycorridorinfra2016ir
 
Q317 Earnings Presentation
bymaxim2015ir
 
TDS - USC Q4 2016 operating results final
byTelephoneDataSystems
 
1Q 2016 Earnings Conference Call Presentation
byinvestors_principalfinancial
 
캐피탈 검토보고서 En
byHyundai Finance
 
Review reports 2 q2016 en
byHyundai Finance
 
Banco ABC - 1st Quarter 2008 Results Presentation
byBanco ABC Brasil
 

Similar to Ccal 1 q13_ing

PDF
Conference Call 4Q13
byItauRI
 
PDF
Ccal 2 q13_ing
byItauRI
 
PDF
Conference Call 3Q15
byItauRI
 
PDF
Conference Call 1Q14
byItauRI
 
PDF
Ccall 4 q11_ing
byItauRI
 
PDF
Ccall 1 q12_ing
byItauRI
 
PDF
Conference Call 4Q15
byItauRI
 
PDF
Conference Call 2Q15
byItauRI
 
PDF
Conference Call 2Q18
byItauRI
 
PDF
Ccall 3 q11_ing
byItauRI
 
PDF
Ccall 2 q11_ing
byItauRI
 
PDF
Conference Call 3Q16
byItauRI
 
PDF
Conference Call 1Q18
byItauRI
 
PDF
Conference Call 4Q14
byItauRI
 
PDF
Conference Call 4Q16
byItauRI
 
PDF
Conference Call 3Q17
byItauRI
 
PDF
Conference Call 2Q17
byItauRI
 
PDF
Conference Call 2Q14
byItauRI
 
PDF
Conference Call 3Q14
byItauRI
 
PDF
Conference Call 1Q15
byItauRI
 
Conference Call 4Q13
byItauRI
 
Ccal 2 q13_ing
byItauRI
 
Conference Call 3Q15
byItauRI
 
Conference Call 1Q14
byItauRI
 
Ccall 4 q11_ing
byItauRI
 
Ccall 1 q12_ing
byItauRI
 
Conference Call 4Q15
byItauRI
 
Conference Call 2Q15
byItauRI
 
Conference Call 2Q18
byItauRI
 
Ccall 3 q11_ing
byItauRI
 
Ccall 2 q11_ing
byItauRI
 
Conference Call 3Q16
byItauRI
 
Conference Call 1Q18
byItauRI
 
Conference Call 4Q14
byItauRI
 
Conference Call 4Q16
byItauRI
 
Conference Call 3Q17
byItauRI
 
Conference Call 2Q17
byItauRI
 
Conference Call 2Q14
byItauRI
 
Conference Call 3Q14
byItauRI
 
Conference Call 1Q15
byItauRI
 

More from ItauRI

PDF
Apresentação Teleconferência 2T19 - Itaú Unibanco
byItauRI
 
PDF
Ccal 3 q12_ing
byItauRI
 
PDF
Ccal 1 q12_port
byItauRI
 
PDF
Ccal 4 q11_port
byItauRI
 
PDF
Ccal 2 q12_port
byItauRI
 
PDF
Conference Call 1Q19 Earnings Review - Itaú Unibanco
byItauRI
 
PDF
Ccal 3 q12_port
byItauRI
 
PDF
C call en_3_t18_impressao
byItauRI
 
PDF
Call_3Q18
byItauRI
 
PDF
Teleconferência Itaú 4T18
byItauRI
 
PDF
2Q19 Conference Call Presentation - Itaú Unibanco
byItauRI
 
PDF
Teleconferência de Resultados 1T19 - Itaú Unibanco
byItauRI
 
PDF
Ccal 3 q11_port
byItauRI
 
PDF
Apresentação da Teleconferência de Resultados 3T19
byItauRI
 
PDF
Call_3T18
byItauRI
 
PDF
C call 3_t18_
byItauRI
 
PDF
Conference Call 2018 Earnings Review - Itaú Unibanco
byItauRI
 
PDF
Conference Call Presentation 3Q19
byItauRI
 
PDF
Ccal 2 q11_port
byItauRI
 
PDF
Teleconf en
byItauRI
 
Apresentação Teleconferência 2T19 - Itaú Unibanco
byItauRI
 
Ccal 3 q12_ing
byItauRI
 
Ccal 1 q12_port
byItauRI
 
Ccal 4 q11_port
byItauRI
 
Ccal 2 q12_port
byItauRI
 
Conference Call 1Q19 Earnings Review - Itaú Unibanco
byItauRI
 
Ccal 3 q12_port
byItauRI
 
C call en_3_t18_impressao
byItauRI
 
Call_3Q18
byItauRI
 
Teleconferência Itaú 4T18
byItauRI
 
2Q19 Conference Call Presentation - Itaú Unibanco
byItauRI
 
Teleconferência de Resultados 1T19 - Itaú Unibanco
byItauRI
 
Ccal 3 q11_port
byItauRI
 
Apresentação da Teleconferência de Resultados 3T19
byItauRI
 
Call_3T18
byItauRI
 
C call 3_t18_
byItauRI
 
Conference Call 2018 Earnings Review - Itaú Unibanco
byItauRI
 
Conference Call Presentation 3Q19
byItauRI
 
Ccal 2 q11_port
byItauRI
 
Teleconf en
byItauRI
 

Recently uploaded

PDF
Benefits Quarterly, Vol. 37, Fourth Quarter 2021.pdf
byHenry Tapper
 
PPTX
PDYN Investor Presentation - January 2026.pptx
byPalladyne AI
 
PDF
_5 Trusted Strategies to Buy Verified Wise Accounts Safely & Legally.pdf
byBuy Verified Wise Accounts
 
PDF
Top 1 0 Websites to Buy Verified Transfer Remitly Accounts ....pdf
byBusiness
 
PDF
A Comprehensive Guide to Buy Verified PayPal Accounts in the US.pdf
byPremium Phone Verified Account Providers
 
PDF
How Unlock Buy Verified Cash App Accounts?
byWei Huang
 
PDF
Top 5 Trusted Websites to Buy Verified PayPal Accounts Safely in 2026
byUsaservicepoint
 
PDF
RFI Responses for Govt Contracting Tips.
byiQuasar LLC
 
PDF
_Top 7 Tips for Buying Verified PayPal Accounts.pdf
byhttps://pvaallit.com/product/buy-verified-apple-pay-accounts/
 
DOCX
How to Buy a Verified PayPal Account_ Step-by-Step Instructions.docx
byhttps://pvaallit.com/product/buy-verified-apple-pay-accounts/
 
PDF
How to Buy Old Gmail Accounts – Verified & Secure.pdf
bymarketing
 
PPTX
Finding Product-Market Fit in the Age of AI
byJeffrey Bussgang
 
PPTX
Keynote: The Modern CMO: Architect of Growth. Guardian of Credibility.
byArmis Inc
 
PDF
enterprise software is not dead and here is why
bywangbin26
 
PDF
Using-pension-savings-to-support-home-ownership.pdf
byHenry Tapper
 
PDF
OIL CHECK 500 Portable - Air Quality Monitoring System
byCS Instruments
 
PDF
Nicky Oppenheimer World Economic Forum Jan 2000
byJames AH Campbell
 
PDF
BendelPuertoRicoCubaGuyanaVenezuelaPetroleumRefineryPetrochemicalPetroAgroInd...
byOsaJOkundayeODMDFAAO
 
DOCX
Podcast Promotion Schedule for Turntable News
byslpalakovich
 
PDF
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
byKirill Klip
 
Benefits Quarterly, Vol. 37, Fourth Quarter 2021.pdf
byHenry Tapper
 
PDYN Investor Presentation - January 2026.pptx
byPalladyne AI
 
_5 Trusted Strategies to Buy Verified Wise Accounts Safely & Legally.pdf
byBuy Verified Wise Accounts
 
Top 1 0 Websites to Buy Verified Transfer Remitly Accounts ....pdf
byBusiness
 
A Comprehensive Guide to Buy Verified PayPal Accounts in the US.pdf
byPremium Phone Verified Account Providers
 
How Unlock Buy Verified Cash App Accounts?
byWei Huang
 
Top 5 Trusted Websites to Buy Verified PayPal Accounts Safely in 2026
byUsaservicepoint
 
RFI Responses for Govt Contracting Tips.
byiQuasar LLC
 
_Top 7 Tips for Buying Verified PayPal Accounts.pdf
byhttps://pvaallit.com/product/buy-verified-apple-pay-accounts/
 
How to Buy a Verified PayPal Account_ Step-by-Step Instructions.docx
byhttps://pvaallit.com/product/buy-verified-apple-pay-accounts/
 
How to Buy Old Gmail Accounts – Verified & Secure.pdf
bymarketing
 
Finding Product-Market Fit in the Age of AI
byJeffrey Bussgang
 
Keynote: The Modern CMO: Architect of Growth. Guardian of Credibility.
byArmis Inc
 
enterprise software is not dead and here is why
bywangbin26
 
Using-pension-savings-to-support-home-ownership.pdf
byHenry Tapper
 
OIL CHECK 500 Portable - Air Quality Monitoring System
byCS Instruments
 
Nicky Oppenheimer World Economic Forum Jan 2000
byJames AH Campbell
 
BendelPuertoRicoCubaGuyanaVenezuelaPetroleumRefineryPetrochemicalPetroAgroInd...
byOsaJOkundayeODMDFAAO
 
Podcast Promotion Schedule for Turntable News
byslpalakovich
 
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
byKirill Klip
 

Ccal 1 q13_ing

  • 1.
    Conference Call 1st Quarter2013 Earnings Results Alfredo Egydio Setubal Executive Vice-President and Investor Relations Officer May | 02 | 2013 Itaú Unibanco Holding S.A.
  • 2.
    Itaú Unibanco HoldingS.A. Highlights  Recurring Net Income of R$3.5 billion, with a 0.3% increase in the quarter and Recurring ROE of 19.1%.  Managerial financial margin totaled R$11.5 billion in the 1Q13:  Decrease of R$1.1 billion compared to the 4Q12, due to the decrease of R$278 million in the margin with market and of R$803 million in the margin with clients (R$255 million due to fewer calendar days in the quarter).  Compared to the 1Q12, the margin decreased by R$1.7 billion, basically due to the decrease of R$ 361 million in the financial margin with market, the reduction of the Selic rate (decrease of R$507 million), the reduction of cash from the acquisition of minority interest in Redecard (effect of R$289 million) and the changes in the mix of products (impact of R$365 million).  Improvement in credit quality:  The 90-day NPL ratio improved 30 basis points compared to the 4Q12 and 60 basis points in 12 months, consolidating the reduction trend started in late 2012, despite of the unfavorable seasonality traditionally present in the first quarter.  The Allowance for Loan and Losses decreased 14.0% in the quarter and 20.5% compared to the 1Q12, consistent with the decrease in the NPL ratio.  The Financial Margin of Credit, net of Expenses for Allowance for Loan Losses, has shown relative stability in the last quarters and reached R$5.8 billion in the 1Q13, an increase of 1.6% from the 1Q12.  Banking Service Fees remained at the level of R$5.1 billion that had been reached in the 4Q12, despite the seasonality of the period, which benefits revenues at the end of the year. Compared to the 1Q12, banking service fees increased 18.8%. Results from Insurance, that includes Pension Plans and Capitalization, totaled R$1.4 billion in the 1Q13, an increase of 5.9% from the 1Q12.  Non-Interest Expenses decreased R$211 million compared to the 4Q12, due to the reduction in Administrative and Operating Expenses. The increase in 12 months reached 4.1%, lower than the inflation rate in the period.  In the 1Q13, the Risk-adjusted Efficiency Ratio decreased 60 basis points compared to the previous quarter.
  • 3.
    Itaú Unibanco HoldingS.A. 1Q13 4Q12 1Q12 1Q13 - 4Q12 1Q13 - 1Q12 Operating Revenues 18,817 19,932 19,518 -5.6% -3.6% Financial Margin with Clients 10,929 11,732 12,259 -6.8% -10.8% Financial Margin with Market 597 875 958 -31.8% -37.7% Banking Service Fees ¹ 5,122 5,149 4,311 -0.5% 18.8% Income from Insurance ² 2,169 2,176 1,989 -0.3% 9.0% Loan Losses and Retained Claims (4,420) (5,027) (5,463) -12.1% -19.1% Expense for Allowance for Loan Losses (4,939) (5,741) (6,210) -14.0% -20.5% Recovery of Credits Written Off as Losses 1,086 1,210 1,212 -10.3% -10.4% Retained Claims (567) (496) (465) 14.3% 22.0% Other Operating Expenses (9,568) (9,898) (9,228) -3.3% 3.7% Non-interest Expenses (8,280) (8,491) (7,956) -2.5% 4.1% Tax Expenses and Others ³ (1,288) (1,407) (1,272) -8.4% 1.2% Income before Tax and Profit Sharing 4,828 5,008 4,827 -3.6% 0.0% Income Tax and Social Contribution (1,295) (1,459) (1,302) -11.2% -0.5% Minority Interests in Subsidiaries (21) (47) 19 -56.0% -210.6% Recurring Net Income 3,512 3,502 3,544 0.3% -0.9% Non-recurring Events (40) (10) (118) - - Net Income 3,472 3,492 3,426 -0.6% 1.4% Variation Results ¹ Banking Service Fee considers Income from Banking Charges ² Income from Insurance includes the Results from Insurance, Pension Plan and Capitalization Operations before Retained Claims and Selling Expenses. ³ Includes Tax Expenses (ISS, PIS, COFINS and other) and selling expenses with insurance. R$ million
  • 4.
    Itaú Unibanco HoldingS.A. R$ million Banking Operations & Insurance Operations ¹ Banking Service Fees considers Income from Banking Charges ² Income from Insurance includes the Results from Insurance, Pension Plan and Capitalization Operations before Retained Claims and Selling Expenses. ³ Includes Tax Expenses (ISS, PIS, COFINS and other) and selling expenses with insurance. 4 Considers the proportional result of our interest in Porto Seguro. Consolidated Banking Operations (without excess capital) Insurance Operations 4 Excess Capital Operating Revenues 19,635 16,501 2,968 166 Managerial Financial Margin 11,526 11,360 - 166 Banking Service Fees ¹ 5,122 5,122 - - Income from Insurance ² 2,987 19 2,968 - Loan and Retained Claim Losses (4,812) (3,861) (951) - Result from Loan and Lease Losses (3,854) (3,854) - - Retained Claims (958) (8) (951) - Other Operating Expenses (9,965) (8,798) (1,159) (8) Non-interest Expenses (8,509) (7,976) (533) - Tax Expenses and Others 3 (1,456) (822) (626) (8) Income before Tax and Profit Sharing 4,857 3,841 858 158 Income Tax and Social Contribution (1,313) (950) (299) (63) Profit Sharing and Minoritary Interests (33) (20) (13) - Recurring Net Income 3,512 2,871 546 95 ROE / RAROC 19.1% 20.1% 36.6% 3.7% Risk-Adjusted Efficiency Ratio 73.8% 75.3% 70.1% - 1Q13
  • 5.
    Itaú Unibanco HoldingS.A. Financial Margins 12.7% 12.8% 13.4% 13.4% 12.6% 12.3% 11.6% 9.8% 9.1% 6.5% 6.0% 12.7% 11.9% 11.7% 11.0% 11.4% 11.3% 10.8% 7.5% 7.9% 7.8% 7.3% 7.4% 6.9% 6.9% 7.0% 5.9% 8.0% 8.1% 7.4% 6.9% 6.9% 6.8% 7.6% 11.2% 12.0% 10.7% 9.8% 8.3% 6.5% 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Gross Credit Spread NIM with clients Net Credit Spread Risk adjusted NIM with clients CDI
  • 6.
    Itaú Unibanco HoldingS.A. 10,929(78) (322)(73)(255)21011,732 (286) 4Q12 Volume Calendar Days Products Mix Mix of Clients and Spreads Selic and Other Equity in Earnings of Affiliates 1Q13 24.9 26.7 27.2 24.5 22.8 22.0 17.0 14.0 13.1 10.5 11.1 11.1 7.3 7.3 6.1 7.1 7.4 8.0 5.8 7.4 7.6 3.2 3.7 4.4 Mar/12 Dec/12 Mar/13 Corporate Very Small, Small and Middle Market Vehicles Credit Card Personal Loans Mortgage Loans Argentina/Chile/Uruguay/Paraguay Ow n Payroll Loans Variation of Financial Margin % R$ million Margin Evolution (Quarter) Evolution of Loan Portfolio Mix ¹ ¹ Excluding endorsements and sureties
  • 7.
    Itaú Unibanco HoldingS.A. 5,394 5,967 6,148 5,734 6,040 5,724 5,814 3,715 3,657 3,880 4,839 4,862 4,781 4,531 5,745 5,827 3,173 3,854 10,34410,50410,90210,57310,0279,624 9,1088,918 9,681 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Expenses for Allowance for Loan Losses net of Recovery of Credits Written Off as Losses Financial Margin of Credit (-) Expenses for Allowance for Loan Losses net of Recovery of Credits Written Off as Losses Financial Margin of Credit and Allowance for Loan Losses R$ million The Financial Margin of Credit, net of Expenses for Allowance for Loan Losses, has shown relative stability in the last quarters, as a result of the adoption of a policy of stricter selectivity in origination.
  • 8.
    Itaú Unibanco HoldingS.A. Financial Margin with Market 990 864 822 1,028 839 0 161 151 175 0 1,142 1,039 958 1,128 849 875 779 136 100 36 597 940 700 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Sale of Cetip/ BM&FBovespa Shares Financial Margin with Market (ex-Sale of Shares) Average Financial Margin with Market (ex-Sale of Shares) Average 830 R$ million
  • 9.
    Itaú Unibanco HoldingS.A. 4,960 5,227 5,530 5,795 5,590 5,568 5,532 6,551 6,476 28.7% 29.3% 29.1% 30.2% 28.6% 28.1% 28.8% 32.9% 34.4% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Banking Service Fees + Result from Insurance, Net (Banking Service Fees + Result from Insurance, Net)/Operating Revenues 1Q13 4Q12 1Q12 1Q13 - 4Q12 1Q13 - 1Q12 Asset Management 567 592 496 -4.1% 14.5% Current Account Services 978 907 750 7.8% 30.4% Loan Operations and Guarantees Provided 631 651 687 -3.1% -8.2% Collection Services 340 388 345 -12.4% -1.5% Credit Cards 2,087 2,037 1,534 2.4% 36.1% Orbitall's Processing Service 23 24 115 -4.0% -80.2% Other 518 574 500 -9.6% 3.7% Banking Service Fees Income¹ 5,122 5,149 4,311 -0.5% 18.8% Result from Insurance, Net ² 1,354 1,402 1,279 -3.4% 5.9% Total 6,476 6,551 5,590 -1.1% 15.9% Variation Banking Service Fees and Result from Insurance* ¹ Desconsidering the impact of Orbitall’s Services, Banking Service Fees Income would have increased 21.5% over the first quarter of 2012. Even if the effect of the proportional increase of Redecard’s contribution were disregarded, the increase would have been of 8.8%. ² Income from insurance, pension plan and capitalization operations (-) Retained claims (-) Selling expenses with insurance, pension plan and capitalization. R$ million * Banking Service Fees also considers Income from Banking Charges and the Result from Insurance includes Insurance, Pension Plan and Capitalization after Retained Claims and Selling Expenses. .
  • 10.
    Itaú Unibanco HoldingS.A. 3,638 3,317 3,940 3,746 3,544 3,585 3,412 3,502 3,512 11.4% 13.1% 14.3% 16.4% 15.2% 13.8% 13.7% 16.0% 15.5% 84.0%86.3%86.2%84.8%88.6% 86.9% 85.7% 83.6% 84.5% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Recurring Net Income Banking Operations Recurring Net Income Insurance Operations 38.4% 33.3% 41.0%39.3% 35.2% 25.5% 33.2%33.0%35.5% Claims Ratio (does not include our 30% interest in Porto Seguro) 38.4% 82.4% 28.1% 15.9% Insurance Claims Ratio Selling Expenses/Earned Premiums Administrative Expenses and Others/Earned Premiums Combined Ratio Net Income of Insurance Composition * 1Q13 Combined Ratio Composition¹ 1Q13 Insurance Operations* R$ million 2.4% 3.3% 8.3% -7.4% 2.9% -28.2% -13.3% 84.4% - 0.2% 4.4% D Q R$ million Net Income Evolution -2.7% ¹ Others: Other Operating Income/Expenses, Tax Expenses and Non-operating Income ¹ Does not include our 30% interest in Porto Seguro and our health insurance operation. *Considers operations from Insurance, Pension Plan and Capitalization 500 bps -370 bps 150 bps 280 bps D Q 527 951 546 2,382 58 302 225 1,206 515 858 312 Earned Premiums Insurance, Contribution Pension Plans and Capitalization Service Fees Retained Claims Selling Expenses Technical Result Financial Margin Non-Interest Expenses Others¹ Income Before Income Tax and Social Contribution Income Tax/Social Contribution and Profit Sharing Recurring Net Income *
  • 11.
    Itaú Unibanco HoldingS.A. (5.2) (5.1) (5.6) (3.3) (3.8) (3.8) (4.0) (5.0) (5.0) (4.9) (4.5) (3.9) (4.5) (6.2) (6.1) (5.7) (4.9) (6.1) 1.69% 1.57% 1.64% 1.79% 1.74% 1.71% 1.58% 1.34% 1.09% 1.23% 1.16% 1.44% 1.42% 1.38% 1.25% 1.04% 1.50% 1.17% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 10.3 11.3 12.3 13.1 12.9 14.9 14.2 6.8 7.4 7.3 7.6 8.0 8.0 7.7 8.1 7.95.1 5.1 5.1 5.1 5.1 5.1 5.1 14.0 14.6 5.1 5.122.2 23.8 24.7 25.8 26.0 27.1 27.7 27.7 27.2 Mar/11 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 R$ billion Complementary portion of the provision— expected loss model Allowance for loan losses – Loan Portfolio Rating A–G ¹ Allowance for loan losses – Loan Portfolio Rating H ¹ Result from Loan and Lease Losses Expenses for provision for loan losses Expenses for Provision for Loan Losses Loan Ratios Balance of Allowance for Loan Losses ¹ Resolution 2,682/99 CMN Expenses for provision for loans losses / Credit portfolio 1 Result from Loan and Lease Losses / Credit portfolio 1 ¹ Average balance of the Loan Portfolio of the two previous quarters. R$ billion
  • 12.
    Itaú Unibanco HoldingS.A. 91% 89% 87% 88% 87% 87% 89% 90% 92% 42% 41% 37% 35% 32% 32% 33% 39% 39% 39% 35% 32% 30% 29% 27% 27% 29% 30% 173% 166% 156% 153% 148% 147% 149% 158% 161% Mar/11 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 5.8% 6.3% 6.6% 6.7% 7.3% 7.5% 6.9% 6.7% 5.4% 4.2% 4.2% 4.5% 4.7% 4.9% 5.1% 5.2% 5.1% 4.8% 4.5% 3.1% 4.1% 4.0% 3.3% 3.2% 2.8% 2.9% 3.1% 3.5% 3.5% 3.5% 3.7% 3.5% 3.3% 3.2% 2.9% 8.1% 8.0% 7.4% 6.7% 6.3% 6.0% 5.8% 5.7%5.9% 5.6% 4.8% 4.6% 4.2% Jun/09 Sep/09 Dec/09 Mar/10 Jun/10 Sep/10 Dec/10 Mar/11 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 Loan Ratios 90-day NPL Ratio 90-day Coverage Ratio Complementary Allowance Coverage Specific Allowance Coverage Generic Allowance Coverage Individuals Total Companies
  • 13.
    Itaú Unibanco HoldingS.A. 7.2% 7.2% 6.9% 7.9% 7.5% 7.2% 6.3% 6.7% 5.9% 3.9% 4.7% 4.5% 4.3% 4.4% 4.8% 4.5% 4.2% 3.6% 4.0% 3.1% 2.3% 2.1% 2.5% 2.0% 2.2% 1.7% 2.4% 2.4% 2.1% 2.3% 2.3% 2.2% 1.8% 1.5% 1.9% 7.5% 6.5%6.7% 7.5% 8.1%7.7% 8.6% 9.3% 4.2%4.5% 5.1% 4.7% 5.2% Jun/09 Sep/09 Dec/09 Mar/10 Jun/10 Sep/10 Dec/10 Mar/11 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 2.1% 1.9% 1.7% 1.2% 1.6% 1.2% 1.4% 1.5% 1.6% 1.7% 1.6% 1.9% 1.6% 1.5% 1.4% 1.4% 5.0 4.6 4.6 5.1 5.5 5.4 5.8 5.35.1 5.4 6.6 4.0 3.3 4.1 2.9 4.0 6.06.1 5.35.9 4.44.0 3.6 4.2 3.3 3.6 4.24.64.2 3.13.0 4.9 Jun/09 Sep/09 Dec/09 Mar/10 Jun/10 Sep/10 Dec/10 Mar/11 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 R$ billion 15 to 90-day NPL Ratio Loan Ratios NPL Creation and Write Off Individuals Total Companies NPL Creation NPL Creation/Loan Portfolio¹ Write Off ¹ Average balance of the Loan Portfolio of the two previous quarters
  • 14.
    Itaú Unibanco HoldingS.A. 66.3% 66.2% 67.0% 69.6% 70.3% 67.9% 70.0% 78.2%77.2% (Banking Service Fees + Result from Insurance*) / Non-interest Expenses (7,479) (7,895) (8,253) (8,327) (7,956) (8,205) (7,898) (8,491) (8,280) 45%40%44%42%43%40%43%43%44% 43% 43% 43% 46% 43% 44% 44% 44% 41% 13% 14% 15% 14% 15% 14% 12% 16% 14% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Personnel Expenses Other Administrative Expenses Other Operating and Tax Expenses , 1Q13 4Q12 1Q12 1Q13 - 4Q12 1Q13 - 1Q12 Personnel Expenses (3,720) (3,430) (3,402) 8.5% 9.3% Administrative Expenses (3,429) (3,699) (3,392) -7.3% 1.1% Personnel Expenses and Administrative (7,150) (7,129) (6,794) 0.3% 5.2% Operating Expenses¹ (1,011) (1,291) (1,064) -21.7% -5.0% Other Tax Expenses² (119) (71) (97) 67.6% 22.8% Non–Interest Expenses³ (8,280) (8,491) (7,956) -2.5% 4.1% Variation Non–Interest Expenses R$ million ¹ Considers expenses with provision for contingencies, credit card selling, claims and other. ² Includes IPTU, IPVA, IOF and other. Does not include PIS, Cofins and ISS. ³ If the effect of proportional consolidation of the results of Redecard in 2012 were excluded, the Non-Interest Expenses would have increased 2.1% compared to the 1Q12. * Banking Service Fees also considers Income from Banking Charges and the Result from Insurance includes Insurance, Pension Plan and Capitalization, after retained claims and selling expenses.
  • 15.
    Itaú Unibanco HoldingS.A. Efficiency Ratio and Risk-Adjusted Efficiency Ratio 48.0 72.8 47.2 48.2 47.1 47.0 44.4 44.9 45.0 46.6 69.6 73.1 70.1 70.7 73.9 74.2 75.3 73.4 46.1 69.8 70.7 70.5 70.9 71.9 72.3 73.5 74.2 73.9 49.2 49.3 48.5 47.4 46.6 45.8 45.3 45.2 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Quarter E.R. (%) Quarter R.A.E.R. (%) E.R. Cumulative figure of the last 12 months (%) R.A.E.R. Cumulative figure of the last 12 months (%)
  • 16.
    Itaú Unibanco HoldingS.A. 72,484 74,220 74,416 Mar 31, 12 Dec 31, 12 Mar 31, 13 896,842 1,014,425 1,028,707 Mar 31, 12 Dec 31, 12 Mar 31, 13 Highlights Assets + 14.7% + 1.4% + 2.7% + 0.3% ¹ In the fourth quarter of 2012, the acquisition of the minorities’ interest in Redecard was accounted for as a capital transaction because it did not represent a change in the control of the company, and the difference between the value paid and the value corresponding to minority shareholders’ interest net of tax effects impacted our equity in R$7,360 million on December 31, 2012. R$ million Stockholders’ Equity ¹
  • 17.
    Itaú Unibanco HoldingS.A. Variation Mar 31, 13 Dec 31,12 Mar 31, 12 Mar 31,13 - Dec 31,12 Mar 31,13 - Mar 31, 12 Individuals 152,749 150,388 149,208 1.6% 2.4% Credit Card 41,362 40,614 36,574 1.8% 13.1% Personal Loans 43,690 40,508 38,988 7.9% 12.1% Vehicles 48,532 51,220 59,054 -5.2% -17.8% Mortgage Loans 19,165 18,047 14,591 6.2% 31.3% Companies 250,630 246,914 229,594 1.5% 9.2% Corporate 163,684 157,954 139,615 3.6% 17.2% Very Small, Small and Middle Market 86,946 88,959 89,979 -2.3% -3.4% Argentina/Chile/Uruguay/Paraguay 30,860 29,293 21,717 5.3% 42.1% Total with Endorsements and Sureties 434,239 426,595 400,519 1.8% 8.4% Corporate — Private Securities 21,924 22,652 17,067 -3.2% 28.5% Total with Endorsements, Sureties and Private Securities 456,162 449,247 417,586 1.5% 9.2% Total with Endorsements, Sureties and Private Securities (ex-Vehicles) 407,630 398,027 358,532 2.4% 13.7% Loans by Type of Client / Product Note: The payroll loan portfolio acquired from BMG is accounted as personal loans and, for comparison purposes, the previous periods were reclassified. The payroll loan portfolio acquired from other banks is classified as corporate risk. R$ million
  • 18.
    Itaú Unibanco HoldingS.A. Variation Mar 31, 13 Dec 31,12 Mar 31, 12 Mar 31,13 - Dec 31,12 Mar 31,13 - Mar 31, 12 Demand Deposits 33,718 34,916 26,903 -3.4% 25.3% Savings Deposits 87,072 83,451 68,488 4.3% 27.1% Time Deposits 109,321 117,232 127,385 -6.7% -14.2% Debentures (Repurchase Agreements) 122,316 129,222 110,480 -5.3% 10.7% Funds from Bills ¹ 36,151 37,539 37,318 -3.7% -3.1% (1) Total - Funding from Institucional Clients and Account Holders (*) 388,578 402,360 370,574 -3.4% 4.9% Onlending 38,826 36,048 34,932 7.7% 11.1% (2) Total – Funding from Institutional & Account Holders 427,403 438,408 405,505 -2.5% 5.4% Assets Under Administration ² 581,918 561,958 524,894 3.6% 10.9% Technical Provisions for Insurance, Pension Plan and Capitalization 96,624 93,210 77,830 3.7% 24.1% (3) Total – Clients 1,105,945 1,093,576 1,008,229 1.1% 9.7% Deposits from Banks 8,444 7,600 8,569 11.1% -1.5% Funds from Acceptance and Issuance of Securities Abroad 16,069 15,999 10,953 0.4% 46.7% Total Funds from Clients + Banks 1,130,458 1,117,175 1,027,751 1.2% 10.0% Repurchase Agreements ³ 174,844 161,165 103,253 8.5% 69.3% Borrow ings 24,065 23,077 17,142 4.3% 40.4% Foreign Exchange Portfolio 40,634 31,104 49,364 30.6% -17.7% Subordinated Debt 52,031 54,372 44,984 -4.3% 15.7% Collection and payment of Taxes and Contributions 4,896 399 5,837 1127.1% -16.1% Free Assets 4 62,735 61,910 62,579 1.3% 0.2% Free Assets and Other 359,206 332,027 283,159 8.2% 26.9% Total Funds (Free, Raised and Managed Assets) 1,489,664 1,449,203 1,310,910 2.8% 13.6% R$ million Funding and Assets Under Management (*) Funds from Institutional Clients totaled R$23,339 million, which corresponds to 6.0% of the total raised with Account Holders and Institutional Clients. ¹ It includes funds from Real Estate, Mortgage, Financial, Credit and Similar Notes. ² In December 2012, we began consolidating the exclusive investment funds for the implementation of consolidated subsidiaries. ³ It does not include own issued debentures, classified as funding. 4 Stockholders’ Equity + Minority Interests - Permanent Assets.
  • 19.
    Itaú Unibanco HoldingS.A. 295 304 334 362 359 364 384 395 105 109 112 119 99 101 90 89 88400 414 446 481 458 465 474 496 483 407 304 317 335 345 347 357 360 371366 Mar/11 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 102.9% 104.1% 100.5% 95.5% 96.7% 98.0% 93.6% 94.1% 75.9% 76.6% 75.2% 71.9% 75.9% 76.8% 75.9% 73.9% 76.9% 90.1% R$ billion Ratio between Loan Portfolio and Funding ¹ Includes resources obtained from account holders and institutional clients, onlending, foreign borrowings and securities, borrowings and subordinated debts that are not included in TIER II Reference Equity. Considers the deductions of reserve requirements , cash and cash equivalents. ² Considers gross funding (disregarding the deductions of reserve requirements, cash and cash equivalents). Funding¹ Reserve Requirements and Cash Loan Portfolio Loan Portfolio / Funding (%) Loan Portfolio / Gross Funding² (%) + 1.4% - 2.9%
  • 20.
    Itaú Unibanco HoldingS.A. 16.1% 16.7% 17.7% 12.5% 10.9% 11.7% Mar/12 Dec/12 Mar/13 BIS Tier I Quarter Evolution RE RWE BIS Ratio December, 2012 109.4 654.9 16.7% Subordinated Debt approved 0.7 0.1% Net Income for the period 1 3.5 0.6% Capital Transaction (Aquisition of minorities' interests Redecard) -0.2 0.0% Asset Valuation Adjustment (AFS) -0.9 -0.1% Interest on Net Equit and Dividends -2.4 -0.4% Other changes in referential equity 0.5 0.1% Changes in RWE -31.3 0.8% March, 2013 110.6 623.5 17.7%  If the remaining realization of assets and the complementary allowance for loan losses were considered, the ratio would have been 18.7%. BIS Ratio R$ billion RE= Referential Equity RWE = Risk Weighted Exposure 1 Net income considered in the Economic Financial Consolidated Evolution of BIS Ratio and Tier I (Economic Financial Consolidated) Note: Based on the financial conglomerate concept (―consolidado operacional‖), the BIS ratio reached 18.9% on March 31, 2013.
  • 21.
    Itaú Unibanco HoldingS.A. 4.5% 2.5% 11.8% 11.1% 9.9% 4.5% 0 - 2.5% 7.0 - 9.5% Rules 2013, Mar Rules 2013, Oct Rules 2019, Dec Until 2015, Dec 2019, Dec 8.0% 2.5% 17.7% 17.2% 15.8% 11.0% 0 - 2.5% 10.5 - 13.0% Rules 2013, Mar Rules 2013, Oct Rules 2019, Dec Until 2015, Dec 2019, Dec Basel III – Estimated impacts from full implementation • In March 2013, the Brazilian Central Bank published the rules for Basel III in Brazil, aiming to ensure adequate minimum capital levels for financial institutions through the deduction of prudential adjustments from the capital base and the creation of stiffer clauses for capital eligible debts. • Additionally, the minimum capital required for credit risk coverage calculation was changed. Part of the rules became effective on the date of the announcement (with positive impacts on the ratio) and another part will become effective in October, 2013 (with negative impact on the ratio). • Itaú Unibanco maintains a confortable capital ratio position, both regarding its Total Capital ratio (Tier I + Tier II) and its Core Capital ratio, even anticipating all impacts of the new rule that will occur gradually until 2019. Core Capital – Common Equity Tier ITotal Capital Regulatory Capital Required * Capital Buffers *Represents BIS II Level I Note: Capital ratios were calculated for the Economic Financial Consolidated of Itaú Unibanco Holding Regulatory Capital Required
  • 22.
    Itaú Unibanco HoldingS.A. Recurring ROE 20.4% 23.5% 21.8% 20.0% 19.4% 19.1% 23.4% 18.5% 19.3% 19.1% 23.3% 22.3% 22.6% 22.3% 21.4% 21.1% 20.0% 19.4% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Recurring Return on Average Equity (quarterly) Recurring Return on Average Equity (12 month moving average)
  • 23.
    Itaú Unibanco HoldingS.A. Market Capitalization and Average Daily Trading Volume R$ million Average Daily Trading Volume (1) As of March 28, 2012, Itaú Unibanco was the 15th largest bank in the world in terms of market capitalization (Source: Bloomberg) Market Capitalization (R$ billion) NYSE (ADR) BM&FBOVESPA (Non-voting + Common) R$ billion (1) 106 224 452 632 368 443 458 435 397 79 95 189 242 191 207 277 285 300 41 36 51 185 319 641 874 559 650 735 720 697 9 13 19 32 23 32 23.8 41.2 54.5 80.8 115.3 140.5 107.9 175.1 179.6 152.8 150.6 161.4 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Mar/13
  • 24.
    Itaú Unibanco HoldingS.A. Expectations 2013 Total Credit Portfolio Growth of 11% to 14% Between R$ 19 billion and R$ 22 billion Growth of 15% to 18% ¹ Growth of 4% to 6% Improvement of 200 to 400 basis points Non-Interest Expenses Risk-Adjusted Efficiency Ratio Banking Service Fees and Result of Insurance ² Expenses for Provision for Loan Losses ¹The expectation regarding Banking Service Fees for 2013 was restated from between 11% and 14% to between 15% to 18%, due to the reclassification of the revenues from Redecard, in accordance with Itaú Unibanco’s proportional interest in the company. ² Banking Service Fees (+) Income from insurance, pension plan and capitalization operations (-) Retained claims (-) Selling expenses with insurance, pension plan and capitalization Expectations for 2013
  • 25.
    Conference Call 1st Quarter2013 Earnings Results Alfredo Egydio Setubal Executive Vice-President and Investor Relations Officer May | 02 | 2013 Itaú Unibanco Holding S.A.