HSBC J.P. Morgan Standard Chartered Bank - bicbanco

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NOTICE TO INVESTORS Notwithstanding anything set forth herein or in any other document related to the notes, you and each of your employees, representatives or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and the tax structure of the transaction described herein and all materials of any kind, including any tax analyses that the <strong>Bank</strong> has provided to you relating to such tax treatment and tax structure. However, the foregoing does not constitute an authorization to disclose the identity of the <strong>Bank</strong> or the initial purchasers or their respective affiliates, agents or advisers or, except to the extent relating to such tax structure or tax treatment, any specific pricing terms or commercial or financial information. AMR-248898-v2 95-40469277
TABLE OF CONTENTS FORWARD-LOOKING STATEMENTS ..................................................................................................................... ii PRESENTATION OF FINANCIAL AND OTHER INFORMATION ...................................................................... iii SUMMARY .................................................................................................................................................................. 1 THE OFFERING ........................................................................................................................................................... 8 SUMMARY FINANCIAL INFORMATION ............................................................................................................. 12 RISK FACTORS ......................................................................................................................................................... 17 ENFORCEABILITY OF CIVIL LIABILITIES .......................................................................................................... 31 FOREIGN EXCHANGE RATES AND EXCHANGE CONTROLS ......................................................................... 32 USE OF PROCEEDS .................................................................................................................................................. 33 CAPITALIZATION .................................................................................................................................................... 34 SELECTED FINANCIAL DATA AND OTHER INFORMATION .......................................................................... 35 SELECTED STATISTICAL INFORMATION .......................................................................................................... 40 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS .................................................................................................................................................. 54 BUSINESS .................................................................................................................................................................. 82 MANAGEMENT AND EMPLOYEES .................................................................................................................... 113 RELATED-PARTY TRANSACTIONS ................................................................................................................... 121 PRINCIPAL SHAREHOLDERS .............................................................................................................................. 122 THE BRAZILIAN BANKING SYSTEM AND INDUSTRY REGULATION ........................................................ 124 DESCRIPTION OF THE NOTES ............................................................................................................................. 148 FORM OF THE NOTES ........................................................................................................................................... 163 TAXATION .............................................................................................................................................................. 166 PLAN OF DISTRIBUTION ...................................................................................................................................... 170 TRANSFER RESTRICTIONS .................................................................................................................................. 175 NOTICE TO CANADIAN RESIDENTS .................................................................................................................. 178 LEGAL MATTERS .................................................................................................................................................. 180 INDEPENDENT ACCOUNTANTS ......................................................................................................................... 181 LISTING AND GENERAL INFORMATION .......................................................................................................... 182 Page AMR-248898-v2 - i - 95-40469277
Page 1 and 2: U.S.$300,000,000 7APR201011063096 B
Page 3: Neither the U.S. Securities and Exc
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 and 22: Consolidated Balance Sheets As of D
Page 23 and 24: Consolidated Statements of Income F
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
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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,
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interest rate through 2008 and on D
Page 67 and 68:
total loans and financing that have
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The market price is the value that
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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
Page 125 and 126:
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
Page 135 and 136:
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
Page 149 and 150:
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’
Page 191 and 192:
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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F - 9
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F - 11
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F - 13
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F - 15
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F - 17
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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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F - 103
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F - 105
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F - 107
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F - 109
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F - 113
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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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