MD&A and Financial Statements (PDF) - Banco Itaú

Balance Sheet
Funding
Funding from Clients
Itaú Unibanco Holding S.A.
Sep 30, 10 Jun 30, 10 Sep 30, 09
Sep/10 –
Jun/10
R$ million
Sep/10 –
Sep/09
Demand Deposits 28,461 25,838 23,306 10.2% 22.1%
Savings Deposits 54,858 51,836 44,132 5.8% 24.3%
Time Deposits 106,011 104,750 105,896 1.2% 0.1%
Debentures (Repurchase Agreements) and Mortgage – Backed Notes (*) 94,066 86,566 66,032 8.7% 42.5%
(1) Funding from Account Holders 283,397 268,990 239,366 5.4% 18.4%
Institutional Clients 14,104 13,583 20,007 3.8% -29.5%
Onlending 28,862 24,749 20,661 16.6% 39.7%
(2) Total – Funding from Institutional & Account Holders 326,363 307,322 280,035 6.2% 16.5%
Assets Under Management 357,495 344,689 310,346 3.7% 15.2%
Technical Provisions for Insurance, Pension Plan and Capitalization 58,490 56,001 49,978 4.4% 17.0%
Deposits from Banks 1,293 2,307 2,232 -44.0% -42.1%
Funds from Acceptance and Issuance of Securities Abroad 9,295 6,301 6,474 47.5% 43.6%
Total Funds from Clients 752,935 716,620 649,064 5.1% 16.0%
Ratio between Loan Portfolio and Funding
(*) Includes funds from Real Estate, Mortgage, Credit and Similar Notes.
(**) These are comprised of installments of subordinated debt that is not included in Tier II Reference Equity.
(***) The credit portfolio balance does not include sureties and endorsements.
Sep 30, 10 Jun 30, 10 Sep 30, 09
Sep/10 –
Jun/10
Sep/10 –
Sep/09
Funding from Clients + Account Holders 326,363 307,322 280,035 6.2% 16.5%
Funds from Acceptance and Issuance of Securities Abroad 9,295 6,301 6,474 47.5% 43.6%
Borrowings 14,397 13,321 12,147 8.1% 18.5%
Other (**) 16,779 13,614 9,364 23.2% 79.2%
Total (A) 366,833 340,559 308,019 7.7% 19.1%
(-) Compulsory Deposits (64,432) (61,585) (22,854) 4.6% 181.9%
(-) Cash and Cash Equivalents (Currency) (11,063) (12,415) (10,325) -10.9% 7.1%
Total (B) 291,338 266,558 274,840 9.3% 6.0%
Loan Portfolio (C) (***) 279,035 263,498 237,099 5.9% 17.7%
C/A 76.1% 77.4% 77.0% -131 bps -91 bps
C/B 95.8% 98.9% 86.3% -308 bps 951 bps
As of September 30, 2010, total funds from clients
mounted R$ 752,935 million, or a 5.1% increase from the
prior quarter.
During the quarter, the funding mix was changed, as funds
obtained through repurchase agreements and mortgage -
backed notes grew by R$ 7,500 million, while savings
deposits accounts increased by R$ 3,022 million.
The ratio of credit portfolio to funding reached 95.8% in
September 2010, versus 98.9% in June 2010. This 310 basis
points improvement is primarily attributable to the rise in
debentures, savings accounts and other liabilities along
with the fall in cash and cash equivalents. Other liabilities
were up due to the issue of Subordinated Notes of US$1
billion, pending approval by the Brazilian Central Bank to
be included in the Tier II Reference Equity.
When compulsory deposits and cash and cash equivalents
are disregarded, the ratio reached 76.1% in September,
remaining stable in comparison with the past 12 months.
Ratio between Loan Portfolio and Funding
85.3% 85.4% 83.9% 86.3% 87.5% 92.3% 98.9% 95.8%
74.9% 75.7% 79.0% 77.0% 77.8% 78.3% 77.4% 76.1%
283 281 279 275 281 273
291
241
267
240 234 237 246 252 263 279
dec/08 mar/09 jun/09 sep/09 dec/09 mar/10 jun/10 sep/10
Funding from Clients (R$ billion)
Loan Portfolio (R$ billion)
Loan / Funding Loan / Funding (*)
(*) Gross funding, disregarding the deduction of compulsory deposits and cash and
cash equivalents.
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Management Discussion & Analysis 3 rd Quarter, 2010