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

ITAÚ UNIBANCO HOLDING S.A.
Consolidated Statement of Income (Note 2a)
(In thousands of Reais)
01/01 to
09/30/2010
01/01 to
09/30/2009
INCOME FROM FINANCIAL OPERATIONS
58,399,028 58,331,333
Loan, lease and other credit operations
37,905,017 35,434,728
Securities and derivative financial instruments
13,697,814 18,929,553
Financial income from insurance, pension plan and capitalization operations (Note 11c)
3,345,086 3,549,287
Foreign exchange operations
833,829 (94,334)
Compulsory deposits
2,617,282 512,099
EXPENSES OF FINANCIAL OPERATIONS
(25,447,708) (23,176,914)
Money market
(21,916,832) (20,176,640)
Financial expenses on technical provisions for pension plan and capitalization (Note 11c)
(2,898,334) (3,089,433)
Borrowings and onlending
(632,542) 89,159
INCOME FROM FINANCIAL OPERATIONS BEFORE LOAN LOSSES
32,951,320 35,154,419
RESULT OF LOAN LOSSES (Note 8d I)
(9,008,144) (10,942,336)
Expenses for allowance for loan losses
(11,954,420) (12,382,541)
Income from recovery of credits written off as loss
2,946,276 1,440,205
GROSS INCOME FROM FINANCIAL OPERATIONS
23,943,176 24,212,083
OTHER OPERATING REVENUES (EXPENSES)
(9,691,126) (11,339,163)
Banking service fees (Note 13d)
10,496,088 8,966,016
Asset management 1,868,658 1,629,437
Current account services 441,433 335,799
Credit cards 4,898,373 4,233,125
Sureties and credits granted 1,069,946 950,175
Receipt services 975,589 885,651
Other 1,242,089 931,829
Income from bank charges (Note 13e)
2,374,095 2,029,971
Result from insurance, pension plan and capitalization operations (Note 11c)
2,051,389 1,721,411
Personnel expenses (Note 13f)
(9,414,166) (8,848,513)
Other administrative expenses (Note 13g)
(10,050,867) (8,430,816)
Tax expenses (Notes 4p and 14a II)
(3,065,836) (3,036,917)
Equity in earnings of affiliates and other investments (Note 15a lII)
180,481 180,369
Other operating revenues (Note 13h)
798,510 573,251
Other operating expenses (Note 13i)
(3,060,820) (4,493,935)
OPERATING INCOME
14,252,050 12,872,920
NON-OPERATING INCOME (Note 13j)
21,334 389,671
INCOME BEFORE TAXES ON INCOME AND PROFIT SHARING
14,273,384 13,262,591
INCOME TAX AND SOCIAL CONTRIBUTION (Notes 4p and 14a I) (3,958,488) (5,619,665)
Due on operations for the period
(3,996,672) (6,210,205)
Related to temporary differences
38,184 590,540
PROFIT SHARING – Management members - Statutory - Law No. 6,404 of 12/15/1976
(168,500) (166,343)
MINORITY INTEREST IN SUBSIDIARIES (Note 16e)
(713,235) (622,763)
NET INCOME
9,433,161 6,853,820
WEIGHTED AVERAGE OF THE NUMBER OF OUTSTANDING SHARES
NET INCOME PER SHARE – R$
BOOK VALUE PER SHARE - R$ (OUTSTANDING AT 09/30)
4,533,375,494 4,515,095,972
2.08 1.52
12.60 10.80
EXCLUSION OF NONRECURRING EFFECTS (Notes 2a and 22k)
NET INCOME WITHOUT NONRECURRING EFFECTS
NET INCOME PER SHARE – R$
190,437 823,407
9,623,598 7,677,227
2.12 1.70
Itaú Unibanco S.A. – - September0, 2010 62