Itaú Unibanco Holding S.A. 1 November 15th 2009 FELABAN Itaú Unibanco Holding S.A. CEO Round Table.
1 Unibanco´s Consolidated Results for the Period Ended September 30, 2001 Conference Call November...
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Transcript of 1 Unibanco´s Consolidated Results for the Period Ended September 30, 2001 Conference Call November...
1
Unibanco´s Consolidated Results for the Period Ended September 30, 2001
Conference CallNovember 9, 2001
Unibanco´s Consolidated Results for the Period Ended September 30, 2001
2
Net Income and EquityNet Income and Equity
YoY%QoQ% 3Q00 2Q013Q01
Net Income (R$ million) 300 221 205 35.7% 46.4%
Earnings/1000 shares (R$) 2.15 1.57 1.67 36.9% 28.7%
Equity (R$ million) 6,065 5,788 4,391 4.8% 38.1%
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Results and Capital AdequacyResults and Capital Adequacy
ROAE 21.9% 16.2% 20.5%
ROAA 2.1% 1.6% 2.1%
Basle Ratio 13.3% 14.4% 16.9%(Central Bank of Brazil)
3Q00 2Q013Q01
ROAE
20.5%
16.2%
3Q00 2Q01 3Q01
21.9%
4
Loan PortfolioLoan PortfolioIn R$ million
YoY%QoQ% Sep/00 Jun/01Sep/01
4,505 4,243 2,762 6.2% 63.1%479 466 441 2.8% 8.6%853 894 769 -4.6% 10.9%
2,505 2,416 1,773 3.7% 41.3%
General Purpose Lending Trade Finance
Consumer CreditReal EstateLeasingCredit Cards
12,647 12,212 8,700 3.6% 45.4%
3,847 4,072 3,070 -5.5% 25.3%
Subtotal 16,494 16,284 11,770 1.3% 40.1%
Subtotal 8,342 8,019 5,745 4.0% 45.2%
Total 24,836 24,303 17,515 2.2% 41.8%
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Loan GrowthLoan GrowthIn R$ million
Total GrowthUnibanco and Bandeirantes 100% of Fininvest
Jun/01 Sep/01Sep/00
22,995
23,466
24,30324,836
1,308
17,515
1,370
38.8%
2.2%
31.3%
2.0%
41.8%
Note: Bandeirantes was acquired in Dec/00.
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Loan Breakdown Loan Breakdown
June 2001
R$ 24,836 million
LargeCorporate
Corporate MiddleMarket
Credicard and Fininvest
RetailBanking
0.8% Private
September 2001
R$ 24,303 million
LargeCorporate
Corporate MiddleMarket
Credicard and Fininvest
RetailBanking
45.2%
30.7%
8.7%
1.0% Private14.4%
45.3%
31.2%
8.6%
14.2%
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Credit Quality Credit Quality
Note: Total risk, including the loan portfolio and other receivables.
40.6% 43.8% 43.9% 40.8% 39.1% 37.9% 41.9%
27.1% 26.7% 28.2% 29.9% 30.8% 32.1% 25.5%
10.1% 9.3% 9.9% 9.8% 10.0% 10.3% 11.2%
14.4% 11.5% 9.7% 10.3% 10.9% 10.6% 12.7%
7.8% 8.7% 8.3% 9.2% 9.2% 9.1% 8.7%
Mar/00 Jun/00 Sep/00 Dec/00 Mar/01 Jun/01 Sep/01
16,013 17,327 17,833 22,148 23,473 24,901 25,457
AA A B C D-H
R$
mill
ion
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Credit Quality Credit Quality
% AA - C Total Portfolio (R$ million)
Note: Total risk, including the loan portfolio and other receivables.
91%91%91%92%91%92%
24,90123,473
22,148
17,83317,32716,013
Mar/00 Jun/00 Sep/00 Dec/00 Mar/01 Jun/01
91%
Sep/01
25,457
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Over 60 Days Past Due Credits / Total LoansOver 60 Days Past Due Credits / Total Loans
3.0
4.1
3.03.02.8
3.23.53.4
4.23.8 4.1
1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01
%
Unibanco consolidated excluding Fininvest
Unibanco consolidated
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Loan Loss ProvisionsLoan Loss Provisions
In R$ million
9M013Q002Q013Q01 9M00
Provision for loan losses (initial balance) 1,654 1,561 1,145 1,484 972
Expenses with provisions for loan losses 346 433 340 1,161 877
Incorporated Balances - - - - 85
Loan charge-offs (436) (340) (313) (1,081) (762)
Provision for loan losses (final balance) 1,564 1,654 1,172 1,564 1,172
Net charge-off / Total loan portfolio 1.3% 1.1% 1.3% 3.3% 2.7%
Loan recovery 104 74 80 260 294
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FundingFunding
Funds in Local Currency 31,755 31,185 20,975 1.8% 51.4%
Funds in Foreign Currency 12,761 12,264 8,001 4.1% 59.5%
Total Funds 44,516 43,449 28,976 2.5% 53.6%
Assets Under Management 19,868 19,039 17,238 4.4% 15.3%
Total Funds + Assets Under Mgt 64,384 62,488 46,214 3.0% 39.3%
QoQ% Sep/00Jun/01 YoY%
In R$ million
Sep/01
12
Deposits Deposits
Demand Deposits 2,295 2,290 1,685 0.2% 36.2%
Savings Deposits 4,208 4,163 2,688 1.1% 56.5%
Interbank Deposits 222 318 98 -30.2% 126.5%
Time Deposits 9,741 8,115 4,997 20.0% 94.9%
Total Deposits 16,466 14,886 9,468 10.6% 73.9%
Sep/00Jun/01 Sep/01 QoQ% YoY%
In R$ million
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Fee IncomeFee Income
9M009M012Q01
Tariffs and Commissions 273 267 195 790 574
Credit Cards 226 202 148 621 438
Asset Management 61 59 62 186 157
Total 560 528 405 1,597 1,169
3Q003Q01
In R$ million
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Personnel and Administrative ExpensesPersonnel and Administrative Expenses
9M009M012Q01
Multiple Bank 607 501 502 1,588 1,428
Multiple Bank ContAtiva 29 25 0 68 0
Bandeirantes 52 103 0 277 0
Subtotal Bank+Bandeirantes 688 629 502 1,933 1,428
Fininvest 95 94 39 279 105
Other Subsidiaries & Affiliates 288 239 193 742 576
TOTAL 1,071 962 734 2,954 2,109
In R$ million
3Q003Q01
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Main Changes in Personnel and Adm. ExpensesMain Changes in Personnel and Adm. ExpensesIn R$ million3Q01 vs. 2Q01
5
13
-51
110
109
Tecban
Credicard
Bandeirantes
Multiple Bank
Volume growth
Stake increase
Collective bargaining agreement 2001: R$ 30
ContAtiva: R$ 4
Transfer from Bandeirantes: R$ 39
Increase in service fees / others: R$ 37303739 4
Total Personneland Adm. Expenses
31(*)Others
(*) Blockbuster R$ 5.1MM; Serasa R$ 4.6MM; Cartão UBB R$2.7MM; Branches abroad R$2.1MM; Interchange R$1.0MM; UAM R$0.5MM and others.
16
Main Changes in Personnel and Adm. ExpensesMain Changes in Personnel and Adm. Expenses
9M00
9M01
9M00
9M01
Reported Pro Forma
279
210+69 32.7%
Fininvest
105 105
2,109 561
2,954
2,670
Multiple Bank + Bandeirantes +49 2.6%
9M00
9M01
1,884
1,656 1,933277
456 1,428
BAND UNIBANCO
BAND UNIBANCO
Total Consolidated (1)
(1) Includes other companies
+284
10.6%
9M01 x 9M00 In R$ million
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Fee Income / Personnel & Adm. ExpensesFee Income / Personnel & Adm. Expenses
R$
Mil
lio
n 734
962
1,071
405 528 560
3Q00 2Q01 3Q01
55.1% 55.0% 52.3%
Personnel & Adm. Expenses
Fee Income
Fee Income/Personnel and Adm. Expenses
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Efficiency RatioEfficiency Ratio
(1) (Personnel Expenses + Other Administrative Expenses) / (Net Income from Financial Intermediation + Provisions for Loan Losses + Fee Income + Insurance, Capitalization and Pension Plans Premiums + Changes in technical provisions for insurance, capitalization and private retirement plans + Claims + Private Retirement plans benefits expenses + Selling and other insurance and private and private retirement plans expenses expenses + Credit card selling expenses + Taxes + Other Operating Income - Other Operating Expenses)
Efficiency Ratio(*)
Number of Employees
3Q00
58.6%
3Q01
58.4%
9M00
19,643
58.2%
9M01
57.8%
29,673
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9M009M01 3Q00 3Q01 2Q01
Revenue from financial intermediation 3,405 2,546 1,665 8,368 4,767
Expense on financial intermediation (2,365) (1,726) (1,008) (5,688) (2,775)
Profit from financial intermediation 1,040 820 657 2,680 1,992
Fee Income 560 528 405 1,597 1,169
Insurance, capitalization and private 454 417 363 1,311 1,016retirement plans
Personnel / Administrative (1,071) (962) (734) (2,954) (2,109)
Operating Income 419 316 180 1,002 641
Net Income 300 221 205 731 556
In R$ million
Consolidated Income StatementConsolidated Income Statement
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Effects of FX on Investments Abroad Effects of FX on Investments Abroad
3Q01 2Q01
Exchange rate fluctuation on investments abroad 310.6 125.2
Cost of Hedge (141.8) (46.5)
Income abroad 168.8 78.7
Opportunity Cost (75.7) (64.5)
Managerial impact of investments abroad 93.0 14.2
In R$ million
21
BIS RatioBIS Ratio
Changes in the quarter:
- Risk weighted assets growth (0.6)%
- Equity growth 0.6%(mainly net income)
- Foreign exchange exposure (1.1)%(according to Central Bank’s guidelines)
BIS Ratio - June 30, 2001 14.4%
BIS Ratio - September 30, 2001 13.3%
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Organic Growth Plan - ContAtivaOrganic Growth Plan - ContAtiva
ContAtiva : 1.8 million customers ContAtiva : 1.8 million customers 3 year-goal (Jan/01 to Dec/03)3 year-goal (Jan/01 to Dec/03)
ContAtiva : 1.8 million customers ContAtiva : 1.8 million customers 3 year-goal (Jan/01 to Dec/03)3 year-goal (Jan/01 to Dec/03)
Open: 66 branches135 Corporate-site 58 In-store branches
Investments: R$180 million
Expense Growth: R$200 million
Incremental Income: R$500 million
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Organic Growth Plan - ContAtivaOrganic Growth Plan - ContAtiva
Goal540,000
New Accounts Opened - Jan to Sep/01
September : 85,000
Real643,000 119%
Annualized growth rate: 19%p.a.
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Banco Bandeirantes’ IntegrationBanco Bandeirantes’ Integration
Estimated Expenses Actual Expenses# Branches
14
10
35
47 47
52 54 53
48 48
50
60
27-A
pr18
-May
08-J
un
22-J
un
06-J
ul
20-J
ul03
-Aug
17-A
ug31
-Aug
14-S
ep28
-Sep
19-O
ct
Nov
Dec
R$
mil
lio
n# b
ranch
es
10,000
15,000
20,000
25,000
30,000
35,000
40,000
5,000
Concluded
Baseline R$ 597,890Estimated R$ 385,932 35%Real+Integr R$ 365,909 39%
Ongoing Running Rate
25
• Branch migration fully completed by October 2001
• Estimated reduction of 35% of Banco Bandeirantes’ annual
costs, was exceeded reaching 39% at the end of September
Banco Bandeirantes’ IntegrationBanco Bandeirantes’ Integration
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Strategic Alliance: Ponto FrioStrategic Alliance: Ponto Frio
• 50/50 joint-venture between Unibanco and Globex, controllingshareholder of Ponto Frio
• Ponto Frio: 2nd largest consumer durables retail franchise - 8.7 million clients, 350 stores, R$ 2.5 billion in annual sales
• Some 2 million contracts outstanding; credit portfolio of R$ 430 million as of June/2001
• Expected portfolio growth: 16-20% p.a. for 2002/2003 10% p. a. for 2004-2006
• Supports commercial operations of other retailers through an integrated system and delivery platform
• Cross selling opportunities
27
• 50/50 joint venture between Fininvest and Magazine Luiza
• Magazine Luiza: 3.3 million clients, 111 stores in 92 cities, R$ 600 million in annual sales, strong presence in the interior of São Paulo, western Paraná and southern Minas Gerais - highly complementary to Ponto Frio´s network
• Cross selling opportunities
• Allows Fininvest to have access to Magazine Luiza’s client base
• Deal concluded on Sep 10th; financial settlement by the end of September and beginning of operations in October 1st.
Strategic Alliance: Magazine LuizaStrategic Alliance: Magazine Luiza
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AcknowledgementAcknowledgement
Unibanco joined the Dow Jones Sustainability Index (DJSI) in the last annual revision. The DJSI consist of the leading sustainability companies in 33 countries. The index encompass the top 10% of the companies that lead their industry in terms of economic, environmental and social criteria.
Unibanco is the first Brazilian company to obtain a corporate governance rating.The company was graded with a 8.4 ranking on a 1-10 scale by SR Rating, which represents an advanced stage of corporate governance. The rating is based on best Brazilian and international corporate governance practices.
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For more information contact our
Investor Relations Area
at phone: 55-11-3097-1626 / 1313
fax: 55-11-3813-6182
email: [email protected]
IR site: www.unibanco.com (select Investor Relations Option)