HSBC J.P. Morgan Standard Chartered Bank - bicbanco

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Consolidated Statements of Income For the Year Ended December 31, Variation Variation 2009 2009 % total (2) 2008 % total (2) 2008 2007 % total (2) 2007 2009x 2008x (in US$ million) (1) (in R$ million except for percentages) % % Loans ................................................. 739.0 1,286.7 86.5 1,788.8 89.6 (28.1) 1,002.1 78.8 78.5 Working capital and discounts ...... 507.1 883.0 59.4 1,042.8 52.2 (15.3) 564.2 44.4 84.8 Secured accounts ........................... 113.2 197.1 13.2 268.7 13.5 (26.6) 185.6 14.6 44.8 Personal consigned credit ............. 15.4 26.9 1.8 73.8 3.7 (63.6) 143.5 11.3 (48.6) Personal credit ............................... 3.9 6.8 0.5 13.5 0.7 (49.6) 14.6 1.1 (7.5) Personal consigned creditassigned operations ....................... 17.7 30.9 2.1 30.3 1.5 2.0 33.1 2.6 (8.5) “Compror”..................................... 3.0 5.2 0.3 17.7 0.9 (70.6) 9.8 0.8 80.6 Corporate Checks .......................... 15.4 26.9 1.8 29.7 1.5 (9.4) 14.7 1.2 102.0 BNDES on-lending ....................... 0.6 1.0 0.1 3.0 0.2 (66.7) 8.3 0.7 (63.9) Import financing ............................ 8.0 13.9 0.9 26.0 1.3 (46.5) 11.1 0.9 134.2 Export financing ............................ 64.9 113.0 7.6 145.3 7.3 (22.2) 27.4 2.2 430.3 Rural and agro-industrial financing ........................................ 3.4 6.0 0.4 0.6 0.0 900.0 1.4 0.1 (57.1) Real estate and housing ................. 0.3 0.6 0.0 0.7 0.0 (14.3) 0.8 0.1 (12.5) Resolution 2770 (former “Res.63”)....................................... 2.8 4.9 0.3 4.9 0.2 0.0 4.3 0.3 14.0 Vendor ........................................... 1.0 1.8 0.1 2.2 0.1 (18.2) 0.5 0.0 340.0 Other loans and financing ............. 9.2 16.1 1.1 8.5 0.4 89.4 13.4 1.1 (36.6) Recovery of loans written off as losses ......................................... 21.7 37.8 2.5 25.9 1.3 45.9 21.5 1.7 20.5 Expenses with assigned operations ...................................... (3.7) (6.5) (0.4) (2.4) (0.1) 170.8 0.0 0.0 100.0 Exchange variation on loans in foreign currency ........................ (45.2) (78.7) (5.3) 97.7 4.9 (180.6) (52.1) (4.1) (287.5) Leases ................................................ 18.8 32.8 2.2 12.7 0.6 158.3 2.8 0.2 353.6 Securities ........................................... 96.4 167.8 11.3 167.5 8.4 0.2 249.5 19.6 (32.9) Income from compulsory investments ........................................ 0.2 0.3 0.0 26.8 1.3 (98.9) 16.5 1.3 62.4 Financial operations income .......... 854.4 1,487.6 100.0 1,995.8 100.0 (25.5) 1,270.9 100.0 57.0 Deposits, money market and interbank funds .................................. (199.7) (347.7) (23.4) (915.7) (45.9) (62.0) (451.5) (35.5) 102.8 Savings deposits ............................ (0.4) (0.8) (0.1) (2.9) (0.1) (72.4) (2.3) (0.2) 26.1 Foreign securities .......................... (46.8) (81.4) (5.5) (102.1) (5.1) (20.3) (75.7) (6.0) 34.9 Interbank deposits ......................... (16.2) (28.2) (1.9) (31.7) (1.6) (11.0) (18.4) (1.4) 72.3 Time deposits ................................ (211.7) (368.6) (24.8) (566.0) (28.4) (34.9) (328.9) (25.9) 72.1 Repurchase operations .................. (1.7) (3.0) (0.2) (29.8) (1.5) (89.9) (143.0) (11.3) (79.2) Expenses with Debentures ............ (6.1) (10.7) (0.7) (6.6) (0.3) 62.1 (3.2) (0.3) 106.3 Other .............................................. (4.1) (7.2) (0.5) (7.3) (0.4) (1.4) (4.5) (0.4) 62.2 Exchange variations .......................... 87.4 152.2 10.2 (169.3) (8.5) (189.9) 124.7 9.8 (235.8) Borrowings and on-lendings ............. 195.1 339.7 22.8 (574.1) (28.8) (159.2) 174.1 13.7 (429.8) Derivative financial instruments ....... (190.0) (330.8) (22.2) 122.2 6.1 (370.7) (179.5) (14.1) (168.1) Foreign exchange transactions .......... (86.6) (150.9) (10.1) 405.2 20.3 (137.2) (122.9) (9.7) (429.7) Provision for loan losses ................... (133.1) (231.8) (15.6) (277.3) (13.9) (16.4) (138.7) (10.9) 99.9 Financial operations expenses ........ (414.3) (721.5) (48.5) (1239.7) (62.1) (41.8) (718.5) (56.5) 72.5 Gross profit from financial operations ..................................... 440.0 766.1 51.5 756.3 37.9 1.3 552.5 43.5 36.9 Income from services rendered ......... 7.0 12.1 0.8 10.3 0.5 17.5 4.6 0.4 123.9 Fees from banking services ............... 20.6 35.9 2.4 43.5 2.2 (17.5) 38.3 3.0 13.6 Personnel expenses ............................ (75.3) (131.2) (8.8) (137.7) (6.9) (4.7) (110.7) (8.7) 24.4 Taxes.................................................. (37.2) (64.8) (4.4) (58.7) (2.9) 10.4 (43.1) (3.4) 36.2 Other administrative expenses .......... (65.3) (113.7) (7.6) (116.5) (5.8) (2.4) (109.6) (8.6) 6.3 Other operating income ..................... 62.6 109.0 7.3 12.2 0.6 793.4 14.6 1.1 (16.4) Other operating expenses .................. (79.0) (137.5) (9.2) (112.6) (5.6) 22.1 (73.6) (5.8) 53.0 Other operating income (expenses) ......................................... (166.6) (290.0) (19.5) (359.4) (18.0) (19.3) (279.4) (22.0) 28.6 Operating result ............................... 273.4 476.1 32.0 396.9 19.9 20.0 273.1 21.5 45.3 Non operating result ....................... 2.4 4.2 0.3 1.0 0.1 320.0 0.3 0.0 233.3 Income before taxes ......................... 275.8 480.3 32.3 397.9 19.9 20.7 273.4 21.5 45.5 Income tax ......................................... (52.6) (91.5) (6.2) (141.9) (7.1) (35.5) (88.8) (7.0) 59.8 Social contribution ............................ (27.8) (48.4) (3.3) (70.1) (3.5) (31.0) (27.1) (2.1) 158.7 Tax credit ........................................... 8.1 14.1 0.9 164.1 8.2 (91.4) 45.7 3.6 259.1 AMR-248898-v2 - 14 - 95-40469277
Consolidated Statements of Income For the Year Ended December 31, Variation Variation 2009 2009 % total (2) 2008 % total (2) 2008 2007 % total (2) 2007 2009x 2008x (in US$ million) (1) (in R$ million except for percentages) % % Statutory profit sharing ..................... (20.8) (36.3) (2.4) (29.4) (1.5) 23.5 (21.3) (1.7) 38.0 Net income ........................................ 182.7 318.2 21.4 320.5 16.1 (0.7) 181.9 14.3 76.2 Number of shares paid-in (thousand)......................................... — 260,466 — 268,957 — — 278,185 — — Net income per share ...................... — 1.23 — 1.21 — — 0.65 — — ______________________ Notes: (1) Translated for convenience only, at the exchange rate in effect as of December 31, 2009 of R$1.7412 per U.S.$1.00 as reported by the Central <strong>Bank</strong>. (2) On “Financial operations income.” AMR-248898-v2 - 15 - 95-40469277
Page 1 and 2: U.S.$300,000,000 7APR201011063096 B
Page 3 and 4: Neither the U.S. Securities and Exc
Page 5 and 6: TABLE OF CONTENTS FORWARD-LOOKING S
Page 7 and 8: Financial Information PRESENTATION
Page 9 and 10: SUMMARY This summary highlights inf
Page 11 and 12: Strengths and Competitive Advantage
Page 13 and 14: management structures of the Bank.
Page 15 and 16: On March 15, 2010, the Central Bank
Page 17 and 18: Ranking ...........................
Page 19 and 20: noteholders’ consent if any such
Page 21: Consolidated Balance Sheets As of D
Page 25 and 26: RISK FACTORS As a general matter, i
Page 27 and 28: potential investors. Any such event
Page 29 and 30: In its corporate activities, the Ba
Page 31 and 32: The Bank’s ability to collect pay
Page 33 and 34: Fluctuations in the real/U.S. dolla
Page 35 and 36: their obligations to the Bank or ma
Page 37 and 38: insolvency of DTC, Clearstream, Lux
Page 39 and 40: ENFORCEABILITY OF CIVIL LIABILITIES
Page 41 and 42: USE OF PROCEEDS The Bank estimates
Page 43 and 44: SELECTED FINANCIAL DATA AND OTHER I
Page 45 and 46: Consolidated Statements of Income F
Page 47 and 48: Selected Ratios As of and for the Y
Page 49 and 50: (7) Net income as a percentage of a
Page 51 and 52: December 31, 2008 / 2007 Increase (
Page 53 and 54: Up to 90 days As of December 31, 20
Page 55 and 56: As of December 31, 2009 Total No ma
Page 57 and 58: Fiscal year ended December 31, Cred
Page 59 and 60: As of December 31, 2009 2008 2007 (
Page 61 and 62: The tables below set forth details
Page 63 and 64: Inflation, as measured by the IPCA,
Page 65 and 66: interest rate through 2008 and on D
Page 67 and 68: total loans and financing that have
Page 69 and 70: The market price is the value that
Page 71 and 72: Expenses with assigned credits ....
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Other Operating Income & Expenses O
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For the Year Ended December 31, 200
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and arbitrations, totaled R$76.3 mi
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For the Year Ended December 31, 200
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Original amount (In U.S.$ millions)
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The following tables set forth a su
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Analysis of Cash Flow Cash Flow fro
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Exposure to foreign exchange rates
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The chart below reflects the Bank
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The following table shows the Bank
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assure the transparency of its mana
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The following table shows the Bank
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The following table shows the distr
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The Bank applies the same control a
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Financeira has two subsidiaries, Su
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The table below sets forth the bala
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Funding in reais Time deposits repr
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Policies of Credit Granting and Ris
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Collateral Generally, loans are bac
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In addition, the Bank adopts a prev
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Moreover, a Risk Management Departm
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The following table compares the lo
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The table below sets forth the numb
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Additionally, the Bank owns the lic
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MANAGEMENT AND EMPLOYEES Board of D
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Currently, the Bank’s executive b
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Mr. Walter Mallas Machado de Barros
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(vi) manages and defines best solut
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RELATED-PARTY TRANSACTIONS Accordin
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condition, its need for funding, it
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penalties provided for in law, when
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Only individuals or entities author
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The independent accountants, in the
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The regulations specify for each lo
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Regulations affecting liquidity in
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the requirement and the portion act
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• transactions carried out in the
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According to Law No. 10,684 of May
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The Money Laundering Law also creat
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• acts that may constitute terror
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• the occurrence of any of the ev
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Some of the principal changes resul
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Deferral of Interest and Principal
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Any provision of this offering memo
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Maintenance of Office or Agency The
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which it does not merge or consolid
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any trust or power conferred on the
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of additional amounts, maintenance
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Paying Agents; Transfer Agents; Reg
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FORM OF THE NOTES Notes sold in off
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definitive note may be transferred
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economic activity in the country or
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TAX ADVISERS AS TO THE PARTICULAR T
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initial purchasers to reclaim a sel
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(2) a trust (where the trustee is n
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TRANSFER RESTRICTIONS The notes hav
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• 7. It acknowledges that the tru
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Taxation and Eligibility for Invest
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INDEPENDENT ACCOUNTANTS The Bank’
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INDEX TO FINANCIAL STATEMENTS Page
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Independent auditors’ report To T
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F - 5
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F - 7
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Banco Industrial e Comercial S.A. a
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Independent auditors’ report To T
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F - 101
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In the individual Financial Stateme
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e.3 Credit operations and allowance
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Investment - 2008 and 2007 % BIC Ar
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5 Securities a. The Bank’s policy
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BICBANCO Consolidated - 2007 Curren
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.4 Criteria for valuation and measu
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A scenario is determined by a combi
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endure fluctuations in the respecti
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BICBANCO BICBANCO Consolidated 2008
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BICBANCO Consolidated 2008 2007 R$
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Present value of lease contracts 11
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Salary advances and prepayments 1,4
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d. Impairment The Bank’s manageme
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Variable remuneration 32,589 21,297
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c. Number of depositors BICBANCO Co
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23 Other liabilities - Tax and soci
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practices. According to the estimat
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27 Deferred income Mainly refers to
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Description BICBANCO Consolidated 2
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Permanent differences 40,208 5,906
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e. Deposits, money market and Inter
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Communication 4,375 3,297 4,378 3,2
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50 largest guarantees 434,152 89.12
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2008 2007 Legal/audit 24 23 Control
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REGISTERED OFFICE OF THE BANK Banco
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HSBC J.P. Morgan Standard Chartered Bank - bicbanco

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