Banco Pine - Institutional Presentation 1Q13

Institutional Presentation

1st Quarter of 2013

Institutional Presentation

2/32 Investor Relations | 1Q13 |

History and Profile

PINE

History

Business Strategy

Competitive Landscape

Focus on the Client

Corporate Credit

FICC

PINE Investimentos

Rating Upgrades

Highlights and Results

Corporate Governance and PINE4

Organizational Structure

Corporate Governance

Committees

PINE4

Ownership Structure

Social Investment and Responsibility

Summary

History and Profile


PINE Specialized in providing financial solutions for large clients…

Credit Portfolio by Annual Client Revenues

Profile

March 311h, 2013

Focused on establishing long-term relationships

Profound knowledge and product penetration

Business is structured along three primary business lines:

• Corporate Credit: credit and financing products • FICC: instruments for hedging and risk

management • PINE Investimentos: Capital Market, Financial

Advisory, Project & Structured Finance and Research

Over R$2 billion 39%

R$500 million to R$2 billion

39%

R$250million to R$500

million 15%

Up to R$250 million

7%


155 184 222 341 521 620 755 663 761 1,214

2,854 3,104

4,191

5,746

6,963

7,912 8,379

18 62

121 126 140 136 152 171 209

335

801 827 825

867

1,015

1,220 1,260

Dec

-97

Dec

-98

Dec

-99

Dec

-00

Dec

-01

Dec

-02

Dec

-03

Dec

-04

Dec

-05

Dec

-06

Dec

-07

Dec

-08

Dec

-09

Dec

-10

Dec

-11

Dec

-12

Mar

-13

Corporate Credit Portfolio (R$ Millions)

Shareholders' Equity (R$ Millions)

History ...with extensive knowledge of Brazil’s corporate credit cycle.

1997 Noberto and Nelson Pinheiro sell their stake in BMC and

found PINE

1939 Pinheiro Family

founds Banco Central do

Nordeste

1975 Noberto Pinheiro becomes one of

BMC’s controlling shareholders

Devaluation of the real

Nasdaq Sept. 11 Brazilian Elections

(Lula)

Subprime Asian Crisis

Russian Crisis

European Community

End of 2007 Focus on expanding the Corporate Banking franchise

Discontinuation of the payroll-deductible loan business

May, 2007 Creation of PINE Investimentos products line and

opening of the Cayman branch

2005 Noberto Pinheiro becomes PINE’s sole

shareholder

October, 2007 Beginning of the FICC Business

October, 2011 Subscription of PINE’s capital by DEG

August, 2012 Subscription of PINE’s capital by DEG, Proparco, Controlling Shareholder and Management

November, 2012 Opening of the broker dealer in New York, PINE Securities USA LLC

March, 2007 IPO

May, 2013 16 years

Business Strategy


Competitive Landscape PINE serves a niche market of companies with few options for banks.

100% focused on providing complete service to companies, offering customized products

Corporate & SME

SME & Retail

Retail

100% Corporate

Large Multi-Services banks

Market

Consolidation of the banking sector has decreased the supply of credit lines and financial instruments for corporate Foreign banks are in a deleveraging process

PINE

Full service Bank – Credit, Hedging, and Investment Bank products – with room for growth ~10 clients per officer Competitive Advantages: Focus Fast response: Strong relationship with

clients, with the credit committee meeting twice a week and response times to clients of no more than one week

Specialized services Tailor-made solutions Product diversity

Foreign and Investment Banks

http://www.banrisul.com.br/

http://www.ibefmg.com.br/?url=http://www.bicbanco.com.br/

http://www.daycoval.com.br/

http://www.sofisa.com.br/

http://www.bancobmg.com.br/novo_site_bmg/INHomeProduto.aspx

https://www.btgpactual.com/home/home.aspx/Index


Focus Always on the Client Strategy of product diversity, tailored to meet the needs of each individual client.

Working Capit

CDIs

Bank Guarantees

Exclusive Funds

Portfolio Management

Swap NDFs Structured Swaps

BNDES Onlending

Bank Guarantees Compror

ACC/ACE Export Finance

Finimp Letters of Credit

2,770 onlending

Overdraft Accounts

Syndicated and Structured Loans

Fixed Income

Currencies

Commodities

Equities

CDBs

CDs

RDBs

LCAs

LCIs

Debentures CRIs

CCBs

Eurobonds

Private Placements

Financial Letters

Clients

Treasury

Corporate Credit

FICC

PINE Investimentos

Distribution

Capital Markets

Financial Advisory

Local Currency

Foreign Currency

Fixed Income Currencies

Commodities

Pricing of Assets and Liabilities

Liquidity Management

Trading

Local Currency Onlending

Foreign Currency Trade Finance

Participation Funds

Options

Working Capital Underwriting

Corporate & Structured

Finance

M&A

Project Finance

Structured Finance

Private Credit Funds

Real Estate Funds

Rural Credit

Aircraft Financing

Investment Management

In addition to the

headquarters located in the

city of São Paulo, PINE has 12

branches throughout Brazil , in

the States of Ceará, Mato

Grosso, Minas Gerais, Paraná,

Pernambuco, Rio de Janeiro,

Rio Grande do Sul, Santa

Catarina and São Paulo. The

origination network also

counts with a Cayman branch

and a broker dealer in New

York (USA).


Corporate Credit

Actions Credit Committee

Strong track record and solid credit origination and approval process.

Credit Approval: Electronic Process

Origination Officers

Credit origination Credit analysis, visit to clients, data updates, interaction with internal

research team

Credit Analysts Regional Heads of

Origination and Credit Analysis

Presentation to the Credit Committee

CRO, Executive Directors and Analysts

of Credit

Centralized and unanimous decision making process

CREDIT COMMITTEE

Meets twice a week – reviewing 20 proposals on average

Minimum quorum: 4 members - attendance of CEO or Chairman is mandatory

Members:

Chairman of the Board CEO Chief Operating Officer Chief Administrative Officer Chief Risk Officer

Participants:

FICC Executive Director Credit Analysts Other members of the Corporate Banking origination team

Personalized and agile service, working closely with clients and keeping a low client to account officer ratio: each officer handles ~10 economic groups

Geographic coverage of clients, providing the bank with local and extremely up-to-date credit intelligence and information

Established long term relationships with more than 600 economic groups

Origination network is comprised of 12 branches divided into 14 origination platforms in Brazil’s major economic centers

More than 30 credit analysts, assuring that analysis is fundamentally driven and based on industry-specific intelligence

Efficient loan and collateral processes, documentation, and controls, which has resulted in a low NPL track record

Discussion on sizing, collateral, structure etc.


March 31, 2013 R$ millions

Scenario on March, 31:

Duration: 149 days

Mark-To-Market : R$174 million

Stress Scenario (Dollar: +31% and Commodities Prices: -30%):

Stressed MTM: R$298 million

Fixed Income: Fixed, Floating, Inflation, Libor Currencies: Dollar, Euro, Yen, Pound, Canadian Dollar, Australian Dollar Commodities: Sugar, Soybean (Grain, Meal and Oil), Corn, Cotton, Metals, Energy

1Source: Cetip Report, March 2013

FICC Proven trackrecord: 2nd in commodity derivatives1.

Client Notional Derivatives Portfolio by Market

Market Segments

Notional Value and MtM

Portfolio Profile

Commodities20%

Fixed Income

20%Currencies

60%

4,287 4,720 4,875 5,036 5,180

126

256 238 197 174

354

597 629

498

298

Mar-12 Jun-12 Sept-12 Dec-12 Mar-13

Notional valueMtMStressed MtM


Capital Markets: Structuring and Distribution of Fixed

Income Transactions.

Financial Advisory: Project & Structured Finance, M&A,

and hybrid capital transactions.

Research: Macro, Commodities, and Corporate.

R$ millions R$ millions

R$50,000,000

January, 2013

Capital Increase

Advisor

US$250,000,000

April, 2013

Senior Notes

Bookrunner

R$800,000,000

January, 2013

Debentures

Coordinator

16

9 10

1Q12 4Q12 1Q13

+11.1%

PINE Investimentos Consolidation of the investment done through the years in the franchise.

Volume of Underwriting Transactions

Transactions

Revenues

317

160

1,045

1Q12 4Q12 1Q13

+553.1%


Rating Upgrades ...with market recognition and positive evaluation by rating agencies.

Moody's explained that the positive outlook reflects PINE’s profitability through a well-executed strategy, and which has ensured earnings recurrence. The rating action also captures the bank's improved funding diversification, well managed asset quality metrics and its good liquidity and capital management.

The agency based its ratings on the strong asset-quality, adequate liquidity, capital, and earnings. S&P also emphasizes the gradual funding diversification, through foreign issuances, securitizations, and the recent capital increase subscribed by DEG.

Fitch attributed this upgrade to PINE’s ability to preserve and to enhance its credit profile in the last several years. Also, the ratings reflect PINE’s consistent performance, higher funding diversification and sound asset quality, liquidity and capitalization. According to Fitch, PINE has managed carefully its growth in the corporate segment with a strategy of revenue diversification and cross-selling aiming to reduce the dependence of revenues from lending and to increase the participation of its FICC Business and PINE Investimentos.

August 2011 Upgrade S&P

December 2011 Upgrade S&P

May 2012 Upgrade pela Fitch

May 2010 Upgrade Fitch

August 2012 Upgrade Perspective Moody’s

May 2013 Upgrade Fitch

http://www.standardandpoors.com/home/es/la

http://www.fitchratings.com.br/

Highlights and Results


Recurring results.

1Q13 Events and Highlights

Positive revenue contributions from all business lines in the quarter: 56.6% from Corporate Credit, 34.1% from FICC, 7.6% from PINE Investimentos, and 1.7% from Treasury. Positive liquidity gap maintained for over 11 quarters: 15 months for credit, versus 17 months for funding. Liquid balance sheet, with cash position of R$1.4 billion, equivalent to 42% of time deposits. PINE continues to be ranked among the 15 largest players in derivative transactions and the 2nd largest in commodity derivatives according to CETIP (OTC Clearing House). On April 19, the Central Bank of Brazil approved the capital increase made by Proparco in the Bank. The transaction resulted in the issuance of 2,211,213 preferred shares, totaling approximately R$32 million, with the participation of other shareholders who exercised their preemptive rights at the price of R$14.28 per share. The transaction resulted in a BIS ratio improvement of 40 bps. On April 25, DEG disbursed the first transaction of the PINE-DEG partnership, totaling US$16 million with an eight-year term for a company in the autoparts sector. On April 30, we concluded our first DCM transaction through our New York broker dealer. The deal amounted to US$250 million for a Sugar and Ethanol company in the State of São Paulo.

1

2

3

4

5

6

7


R$ millions

1 Includes Stand-by Letters of Credit, Bank Guarantees, Credit Securities to be Received and Private Securities (bonds, CRIs, eurobonds and fund shares)

7,426 8,405

Mar - 12 Mar - 13

Loan Portfolio1

13.2%

1,029 1,260

Mar - 12 Mar - 13

Shareholders' Equity 22.4%

31 30

1Q12 1Q13

Fee Income

- 3.2%

47 46

1Q12 1Q13

Net Income

- 2.1%

1Q13 Financial Highlights The main performance indicators were within expectations in the quarter...

19.5% 15.5%

1Q12 1Q13

ROAE

- 400 bps

6,443 6,589

Mar - 12 Mar - 13

Funding

2.3%


44% 58% 58%

56% 42% 42%

Mar - 11 Mar - 12 Mar - 13

More than 1 product 1 product

2.7 3.0

2.8

Mar - 11 Mar - 12 Mar - 13

Product and Revenue Diversification ... with contributions from all business lines, fruit of the strategy of complete service to clients.

Clients with more than one product Penetration Ratio – Clients with more than one product

Revenue Mix

Corporate Credit57.3%

FICC24.3%

Treasury8.2%

PINE Investimentos

10.2%

1Q12

Corporate Credit56.6%

FICC34.1%

Treasury1.7%

PINE Investimentos

7.6%

1Q13


5.0% 5.5%

4Q12 1Q13

+50 bps

Increased activity in the FICC business

Loan portfolio growth

Cash reserves returned to approximately 40% of deposits

Net Interest Margin

NIM Evolution Impacts in the Period

NIM Composition

R$ millions

1Q13 4Q12 1Q12 QoQ YoY

Income from financial intermediation 102 93 122 9.7% -16.4%

Overhedge effect (2) (1) (1) 100.0% 100.0%

Income from financial intermediation ex-overhedge 100 92 121 8.7% -17.4%

Provision for loan losses (13) (19) (11) -31.6% 18.2%

Income from financial intermediation after provision 87 73 110 19.2% -20.9%

NIM is within the guidance range.


R$ millions

1Q13 4Q12 1Q12 QoQ YoY

Operating expenses 1 50 49 46 2.0% 8.7%

(-) Non-recurring expenses 1 1 1 - -

Recurring Operating Expenses (A) 49 48 45 2.1% 8.9%

Revenues 2 (B) 130 122 152 6.6% -14.5%

Ratio (A/B) 37.7% 39.3% 29.5% -160 bps 820 bps1 Other administrative expenses + tax expenses + personnel expenses2 Gross Income from financial intermediation - provision for loan losses + fee income + overhedge effect

Expenses and Efficiency Ratio

Expenses

Efficiency Ratio

22 23 22

20

22 24

29.5% 39.3% 37.7%

1Q12 4Q12 1Q13

Personnel Expenses

Other Administrative Expenses

Efficiency Ratio (%)

Rigorous management and control of expenses.


R$ millions

3,136 3,175 3,329 3,289 3,389 3,382 3,274 3,377 3,550

71 122 251 322 367 621 683 787 670

881 912

881 883 884 822 800

853 826 1,117 1,372

1,534 1,687 1,684 1,599 1,699

2,114 2,501

622 772

756 782

1,021 1,154 942

781 832

230

190 124

102 81

64 47

36 26

Mar - 11 Jun - 11 Sept - 11 Dec - 11 Mar - 12 Jun - 12 Sept - 12 Dec - 12 Mar - 13

Individuals: 0.3%

Trade Finance: 9.9%

Bank Guarantees: 29.8%

BNDES Onlending: 9.8%

Private Securities +

Working Capital: 50.2%

6,545 6,875

7,065 7,426

7,641 7,444

7,948 8,405

6,057

1 Includes Stand-by Letters of Credit, Bank Guarantees, Credit Securities to be Received and Private Securities (bonds, CRIs, eurobonds and fund shares)

Loan Portfolio1 The portfolio maintained its growth to reach R$8.4 billion in March...


Sugar and Ethanol15%

Electric and Renewable Energy

12%

Construction11%

Agriculture8%

Infrastructure7%

Specialized Services

6%Transportation and

Logistics5%

Metallurgy4%

Foreign Trade4%

Beverages and Tobacco

3%

Vehicles and Parts3%

Telecom3%

Food Industry3%

Chemicals2%

Metals and Mining2%

Meatpacking2%

Construction Material

2%

Financial Institutions

2% Other6%

Sugar and Ethanol20%

Construction9%

Agriculture8%

Infrastructure8%

Electric and Renewable Energy

8%

Foreign Trade5%

Transportation and Logistics

5%

Food Industry4%

Specialized Services

4%

Meatpacking3%

Beverages and Tobacco

3%

Metallurgy3%

Vehicles and Parts3%

Chemicals2%

Financial Institutions

2%

Telecom2%

Construction Material

2% Other9%

1Q13 1Q12

Reduced exposure of the Sugar and Ethanol sector, from 20% to 15%;

Increased participation in other sectors such as Electric and Renewable Energy, and Construction;

Reshuffle of the 20 largest clients in approximately 20%;

20 largest clients represented 29% of the total portfolio.

Continuous Loan Portfolio Management ...with sector diversification...


AA-A56.0%

B30.4%

C9.2%

D-E1.4%

F-H3.0%

3.4%3.7% 3.5%

3.3% 3.4%


March 31, 2013

0.7%0.6%

0.8%

1.2% 1.2%

0.2% 0.2%

0.4%

0.6% 0.6%


Contracts overdue

Installments overdue

Contracts Overdue: Total amount of the contracts overdue for more than 90 days / Loan Portfolio excluding Bank Guarantees and Stand-by Letters of Credit. Installents Overdue: Total amount of installments overdue for more than 90 days / Loan Portfolio excluding Bank Guarantees and Stand-by Letters of Credit.

Credit Coverage: Provision / Loan Portfolio excluding Bank Guarantees and Stand-by Letters of Credit.

Loan Portfolio Quality ... quality, collaterals, and adequate credit coverage.

Loan Portfolio Quality

Credit Coverage

Non Performing Loans > 90 days

Collaterals

Products Pledge

39%

Receivables28%

Properties Pledge

30%

Investments2%

Guarantees1%


1,720 1,845 1,965 2,130 2,128 2,153 2,056 2,245 2,186

1,114 1,287 1,253 1,196 1,186 1,228 1,177

1,174 972

218 212 228 250 281 223

213 146 126 272

210 165 106 161 194 176 121

110 41 53 66 112 31 33

33 30 126

917 946 924 934 938 891 840 903

869 33

247 266 312 314 593 640

901 796

201

205 237 246 233

295 260

409 402

282

267 310 353 276

234 156

152 78

155

84 86 250

125 118

180

173 171

385

549 757

686 771

1,011 1,073

808

752


Trade Finance: 11.4%

Private Placements: 2.6%

Multilateral Lines: 1.2%

International Capital Markets: 6.1%

Local Capital Markets: 12.1%

Onlending: 13.2%

Demand Deposits: 1.9%

Interbank Time Deposits: 1.7%

High Net Worth Individual Time Deposits: 1.9%

Corporate Time Deposits: 14.8%

Institutional Time Deposits: 33.2%

5,338

7,062

5,902 6,258

6,575 6,443

6,972 6,804 6,589

R$ millions

Funding Diversified sources of funding...

42% 42% 41% 41% 41% 34% 38% 50% 42% Cash over Deposits


R$ millions

7.2x 7.3x

6.1x 6.5x 6.7x

Mar - 12 Jun - 12 Sept - 12 Dec - 12 Mar - 13

Asset & Liability Management ... keeping a positive gap between credit and funding.

Leverage

ALM – Average Maturity

Credit over Funding Ratio

Total Deposits over Total Funding

Leverage: Total Loan Portfolio / Shareholders’ Equity Credit over Funding ratio: Loan Portfolio excluding Bank Guarantees and Stand-by Letters of Credit / Total Funding

59% 55% 54% 53% 53%

41% 45% 46% 47% 47%


Total Deposits Others

6,589 7,062 6,804 6,972 6,443

86% 84% 83% 82% 87%


months

17 16 16

17 17

14 13

14 14 15


Funding

Loan Portfolio


Capital Adequacy Ratio (BIS)

R$ millions Basel (%)

Tier I 15.0%

Tier II 2.1%

Total 17.1%

1,268

185

1,454

13.4% 13.2% 15.1% 14.3% 13.3% 12.6% 14.0% 13.4% 15.0%

3.7% 3.4%

4.5% 4.2%

3.1% 3.3% 3.0% 2.8%

2.1%

17.1% 16.6%

19.6% 18.5%

16.4% 15.9% 17.0%

16.2% 17.1%


Tier I Tier II

Minimum Regulatory Capital (11%)

BIS ratio reached 17.1%.

Corporate Governance and PINE4


Organizational Structure Non-bureaucratic, entrepreneurial, and meritocratic culture with a flat hierarchy.

CEO Noberto Pinheiro Jr.

COO Norberto Zaiet

CRO Gabriela Chiste

CAO Ulisses Alcantarilla

CFO Susana Waldeck

Origination Investment Banking Sales & Trading Research Macro/ Commodities/Corporate International

Asset & Liabilities Back Office Legal Collaterals Management Special Situations Middle Office

Controlling Accounting Tax Planning IT Accounts Payable Office Management Marketing Investor Relations

Credit Corporate Research Compliance , Internal Controls and IT Security Credit, Market, Operational and Liquidity Risks Financial Modeling

INTERNAL AUDIT Tikara Yoneya

COMPENSATION COMMITTEE

AUDIT COMMITTEE

EXTERNAL AUDIT PWC

Noberto Pinheiro Noberto Pinheiro Jr. Maurizio Mauro Gustavo Junqueira Mailson da Nóbrega

Chairman Vice Chairman Independent Director

External Director

Independent Director

HUMAN RESOURCES Sidney Vilhena

BOARD


Corporate Governance PINE commits to best corporate governance practices…

Two Independent Members and one External Member on the Board of Directors Mailson Ferreira da Nóbrega: Brazil’s Finance Minister from 1988 to 1990 Maurizio Mauro: Former CEO of Booz Allen Hamilton and Grupo Abril Gustavo Junqueira: Former Head of PINE Investimentos, Member of the Board of Directors at EZTEC, Financial Advisor at Arsenal Investimentos and CFO at Gradiente Eletrônica

São Paulo Stock Exchange (BM&FBovespa) Level 2 Corporate Governance

Audit and Compensation Committee reporting directly to the Board of Directors

100% tag along rights for all shareholders, including non-voting shares

Arbitration procedures for fast settlement of litigation cases First Brazilian bank to release BR GAAP and IFRS quarterly


Committees …favoring collective decision making.

Main decisions are taken by committees. Non-stop exchange of knowledge, ideas, and information. Transparency.

CEO

Bi-annually Monthly

AUDIT COMMITTEE

BOARD OF DIRECTORS

COMPENSATION COMMITTEE

COMMITTEES

CREDIT ASSET & LIABILITY

COMMITTEE ALCO

EXECUTIVE TRANSACTIONS MONITORING

HUMAN RESOURCES

INVESTMENT BANK

PERFORMANCE EVALUATION IT ETHICS

INTERNAL CONTROLS AND

COMPLIANCE RISK

Twice a week Weekly Monthly Twice a month Every 2 months Weekly Monthly Quarterly On demand Every 2 months

45 days

45 days


R$ thousands

PINE4

Price (R$) 14.44

P/BV 1.3x

P/E(1) 7.6x

7.8%

6.6% 6.5%

4.5% 4.3%

1.5%

PINE4 Bank 1 Bank 2 Bank 3 Bank 4 Bank 5

Average: 4.7%

PINE4

PINE4 Evolution (since 2012)

Multiples

Average Daily Traded Volume

Dividend Yield

Dividend Yield: Average daily closing prices of the stocks in 1Q13 / Dividends and Interest on Own Capital of the last twelve months

75

80

85

90

95

100

105

110

115

120

125

PINE4: +12.0%

IBOV: -2.6%

162

272 266 275

524

1Q12 2Q12 3Q12 4Q12 1Q13

+90.5%

(1) Considers the market consensus for the 2013 net income; source: Bloomberg


Ownership Structure

Highlights

Issuance of 2,211,213 new shares for the capital increase made by Proparco and minority shareholders on April 30, 2013.

PINE hired Itau to serve as Market Maker in order to increase PINE4’s liquidity. The activities of the Market Maker began on May 13, 2013.

As of April 30, 2013

Common Preferred Total %

Controlling Shareholder 58,444,889 15,410,863 73,855,752 66.6%

Management - 6,034,158 6,034,158 5.4%

Free Float - 29,935,154 29,935,154 27.0%

Individuals - 3,109,773 3,109,773 2.8%

Local Institutional Investors - 11,839,327 11,839,327 10.7%

Foreign Investors - 8,093,382 8,093,382 7.3%

DEG - 5,005,067 5,005,067 4.5%

Proparco - 1,887,605 1,887,605 1.7%

SubTotal 58,444,889 51,380,175 109,825,064 99.1%

Treasury - 1,017,249 1,017,249 0.9%

Total 116,889,778 52,397,424 110,842,313 100%


Social Investment and Responsibility Focus on the short, medium and long term.

Social Investment Recognition

Partnership

Most Green Bank

Recognized by the International Finance Corporation (IFC), private agency programs of the World Bank as the most "green" bank as a result of its transactions under the Global Trade Finance Program (GTFP) and its onlending to companies focused on renewable energy and ethanol

Efficiency Energy

Recognition by World Bank for support in the Energy Efficiency sector.

The UN initiative mobilizes the international business community to adopt fundamental and internationally accepted values in their business practices in the areas of human rights, labor relations, environment and combating corruption, which are reflected in ten principles. Since October 2012

Responsible Credit

“Lists of Exceptions”: the Bank does not finance projects or those organizations that damage the environment, are involved in illegal labor practices or produce, sell or use products, substances or activities considered prejudicial to society.

System of environmental monitoring, financed by the IADB and coordinated by FGV, and internally-produced sustainability reports for corporate loans

Principles applied to Project Finance transactions where total project capital costs exceed US$10 million and are based on International Finance Corporation Performance Standards on social and environmental sustainability and on the World Bank Group Environmental, Health, and Safety Guidelines (EHS Guidelines). Since December/2012

Exhibition and sponsorship of Brazilian artists, for instance Paulo von Poser,

in addition to sponsoring and supporting films and documentaries such as

Quebrando o Tabu (Fernando Henrique Cardoso on the drug war), Além da

Estrada (Charly Braun) and others.


This report may contain forward-looking statements concerning the business prospects, projections of operating and financial results and growth outlook of PINE. These are merely projections and as such are based solely on management’s expectations regarding the future of the business. These statements depend substantially on market conditions, the performance of the sector and the Brazilian economy (political and economic changes, volatility in interest and exchange rates, technological changes, inflation, financial disintermediation, competitive pressures on products and prices and changes in tax legislation) and therefore are subject to change without prior notice. .

Investor Relations

Noberto Pinheiro Jr.

CEO

Susana Waldeck Norberto Zaiet Junior

CFO / IRO COO

Raquel Varela

Head of Investor Relations

Alejandra Hidalgo

Investor Relations Manager

Eduardo Pinotti

Investor Relations Analyst

Ana Lopes

Investor Relations Analyst

Phone: +55-11-3372-5343

www.pine.com/ir

[email protected]

Banco Pine - Institutional Presentation 1Q13

Economy & Finance

Transcript of Banco Pine - Institutional Presentation 1Q13