IRR310313.pdf - Banco Itaú

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NOTE 20 – INFORMATION ON FOREIGN SUBSIDIARIES Foreign branches (1) Latin America Itaú Europe Consolidated Other foreign companies Cayman Consolidated (4) Consolidated (2) (3) (5) Foreign consolidated (6) 03/31/2013 03/31/2012 03/31/2013 03/31/2012 03/31/2013 03/31/2012 03/31/2013 03/31/2012 03/31/2013 03/31/2012 03/31/2013 03/31/2012 Assets Current assets and long-term receivables Cash and cash equivalents 2,951,794 2,933,286 2,500,507 1,942,506 354,963 249,965 706,209 3,614,685 1,183,794 809,651 7,075,247 4,660,597 Interbank investments 8,903,151 11,994,110 2,733,319 1,199,270 2,444,944 2,108,217 7,724,290 7,512,931 214,006 782,852 11,790,299 13,657,554 Securities 54,975,384 43,897,650 4,147,825 3,800,337 2,051,080 1,584,526 5,397,770 4,729,889 29,298 28,226 65,977,332 53,502,277 Loan, lease and other credit operations 40,013,475 33,359,462 27,733,870 19,888,071 7,296,724 7,234,472 96,393 300,830 1,697 699 75,081,431 60,697,863 Foreign exchange portfolio 35,776,276 40,902,149 696,260 444,196 4,344,711 2,311,307 1,195,493 392,341 - - 37,817,296 43,689,875 Other assets 2,063,805 1,416,134 3,669,109 2,918,422 370,037 301,440 1,233,261 1,096,549 349,806 226,029 7,528,504 5,857,420 Permanent assets Investments 14,161 21,354 5,317 4,548 5,002 114,069 55,134 44,526 441,965 119,608 80,416 259,581 BPI - - - - - 110,347 - - - 114,850 - 225,196 Other investments 14,161 21,354 5,317 4,548 5,002 3,722 55,134 44,526 441,965 4,758 80,416 34,385 Fixed and intangible assets 21,174 26,452 561,210 482,096 161,837 167,513 828 1,607 18,279 16,085 710,612 693,754 Total 144,719,220 134,550,597 42,047,417 30,679,446 17,029,298 14,071,509 16,409,378 17,693,358 2,238,845 1,983,150 206,061,137 183,018,921 LIABILITIES Current and long-term liabilities Deposits 34,886,829 43,520,145 27,418,983 21,233,520 6,262,871 5,399,083 1,275,642 2,789,477 - - 62,209,879 60,245,191 Demand deposits 6,480,307 8,354,361 7,841,254 5,628,323 3,371,358 2,531,220 511,342 1,138,701 - - 17,582,240 12,730,983 Savings deposits - - 3,959,215 3,133,182 - - - - - - 3,959,215 3,133,182 Interbank deposits 10,914,950 10,147,846 106,611 172,631 1,391,077 1,211,931 764,300 - - - 7,212,349 10,888,741 Time deposits 17,491,572 25,017,938 15,511,903 12,299,384 1,500,436 1,655,932 - 1,650,776 - - 33,456,075 33,492,285 Deposits received under securities repurchase agreements 19,186,422 10,039,212 492,389 171,082 - - 2,918,007 1,691,728 - - 19,162,049 9,730,950 Funds from acceptance and issuance of securities 6,185,064 2,547,595 2,692,285 1,526,962 3,661,630 3,435,239 2,233,981 2,705,121 - - 14,749,883 10,190,414 Borrowings 19,938,766 13,532,719 2,632,201 1,755,292 368 559,930 9,972 9,768 2,473 30,998 22,583,779 15,857,709 Derivative financial instruments 1,697,806 1,250,676 245,937 202,235 474,671 539,240 514,730 602,823 - - 2,549,884 2,113,493 Foreign exchange portfolio 35,788,014 40,998,113 685,853 443,933 4,248,110 2,311,596 1,219,858 391,443 - - 37,746,391 43,784,966 Other liabilities 17,493,261 10,219,764 2,545,149 2,101,553 419,396 473,061 1,238,768 2,505,609 339,461 176,634 21,817,802 15,327,205 Deferred income 77,521 54,060 1,964 9,566 15,600 22,031 - 63 1,210 3,070 96,296 88,789 Minority interest in subsidiaries - - 8,869 8,571 64 61 791,718 716,294 - 3 792,041 716,553 Stockholders’ equity Capital and reserves 9,264,422 12,015,100 5,182,521 3,093,840 1,834,410 1,365,821 6,205,438 6,278,728 1,899,480 1,797,625 23,923,549 24,514,564 Net income for the period 201,115 373,213 141,266 132,892 112,178 (34,553) 1,264 2,304 (3,779) (25,180) 429,584 449,087 Total 144,719,220 134,550,597 42,047,417 30,679,446 17,029,298 14,071,509 16,409,378 17,693,358 2,238,845 1,983,150 206,061,137 183,018,921 Statement of Income Income from financial operations 759,670 1,036,221 754,062 595,353 180,841 58,318 13,152 73,625 (5,253) 7,456 1,641,740 1,719,632 Expenses of financial operations (440,543) (651,680) (294,410) (244,301) (26,946) (31,493) 8,616 (45,431) (36) (188) (704,761) (916,288) Result of loan losses (95,281) (8,351) (79,623) (12,644) 796 143 - - 1,128 (17) (172,979) (20,870) Gross income from financial operations 223,846 376,190 380,029 338,408 154,691 26,968 21,768 28,194 (4,161) 7,251 764,000 782,474 Other operating revenues (expenses) (22,731) (2,929) (177,823) (168,372) (28,544) (53,297) (20,504) (25,890) 6,679 (21,726) (252,968) (277,203) Operating income 201,115 373,261 202,206 170,036 126,147 (26,329) 1,264 2,304 2,518 (14,475) 511,032 505,271 Non-operating income - (48) 1,102 31 (3,532) 93 - - 407 371 (2,453) 300 Income before taxes on income and profit sharing 201,115 373,213 203,308 170,067 122,615 (26,236) 1,264 2,304 2,925 (14,104) 508,579 505,571 Income tax - - (53,905) (37,041) (8,737) (6,596) - - (6,704) (11,076) (69,347) (54,713) Statutory participation in income - - (7,936) (42) (1,699) (1,722) - - - - (9,635) (1,763) Minority interest in subsidiaries - - (201) (92) (1) 1 - - - - (13) (8) Net income (loss) 201,115 373,213 141,266 132,892 112,178 (34,553) 1,264 2,304 (3,779) (25,180) 429,584 449,087 (1) Itaú Unibanco S.A. - Branches Grand Cayman, New York and Tokyo, ITAÚ UNIBANCO HOLDING S.A - Branch Grand Cayman, Banco Itaú-BBA S.A - Nassau Branch; only at 03/31/2012, Unibanco Branch Grand Cayman and Itaú Unibanco S.A. - Nassau Branch. (2) Banco Itaú Argentina S.A, Itaú Asset Management S.A.Sociedad Gerente de Fondos Comunes de Inversión, Itrust Servicios Inmobiliarios S.A.C.I, Itaú Sociedad de Bolsa S.A., Itaú Chile Holdings Inc., BICSA Holdings LTD., Banco Itaú Chile S.A., Itaú Chile Inversiones, Servicios Y Administración S.A., Itaú Chile Corredor de Bolsa Ltda., Itaú Chile Corredora de Seguros Ltda., Itaú Chile Administradora General de Fondos S.A., Recuperadora de Créditos Ltda, Itaú Chile Compañia de Seguros de Vida S.A., ACO Ltda., Banco Itaú Uruguay S.A., OCA Casa Financiera S.A., OCA S.A., Unión Capital AFAP S.A., Banco Itau Paraguay, Tarjetas Unisoluciones S. A. de Capital Variable, Proserv - Promociones Y Servicios S.A. de C. V ., MCC Asesorias Limitada (50%), MCC Securites INC. (50%) and Itaú BBA SAS; only at 03/31/2012, EF Securitizadora S.A.; only at 03/31/2013, Itaú BBA Colômbia and MCC Corredora de Bolsa (50,0489%). (3) (4) (5) IPI - Itaúsa Portugal Investimentos, SGPS Lda. (49%), Itaúsa Europa - Investimentos, SGPS, Lda., Itaú Europa, SGPS, Lda., Itaúsa Portugal - SGPS S.A.,Itau BBA International (Cayman) Ltd., Banco Itaú Europa Luxembourg S.A., BIE Cayman Ltd., Banco Itaú Europa International, Itaú Bank & Trust Bahamas Ltd., Itaú Europa Securities Inc., Itaú Bahamas Directors Ltd., Itaú Bahamas Nominees Ltd., Banco Itau Suisse S.A. and Itaú BBA International Limited; only at 03/31/2012, BIE Directors Ltd, BIE Nominees Lda and Banco Itau BBA International S.A . Itau Bank Ltd., ITB Holding Ltd., Jasper International Investiment LLC, Itaú Bank & Trust Cayman Ltd., Uni-Investments Inter. Corp., Rosefield Finance Ltd. (50%), UBT Finance S.A., Itaú Cayman Directors Ltd. and Itaú Cayman Nominees Ltd.; only at 03/31/2012, Unibanco Cayman Bank Ltd. and Unipart Partic. Internac. Ltd. Afinco Americas Madeira, SGPS Soc. Unipessoal Ltda, Topaz Holding Ltd., Itaú USA Inc., Itaú International Investment LLC, Albarus S.A., Banco Del Paraná S.A., Garnet Corporation, Itau Global Asset Management, Mundostar S.A., Karen International Ltd., Nevada Woods S.A., Itaú Asia Securities Ltd., IPI - Itaúsa Portugal Investimentos, SGPS Lda. (51%), Itaú BBA USA Securities Inc., Itaú Middle East Limited, Unipart B2B Investments, S.L., Itau BBA UK Securities Limited, Itaú Japan Asset Management Ltd., Itaú (Beijing) Investment Consultancy Limited, Itaú UK Asset Management Limited, Itaú Asia Asset Management Limited and Itau USA Asset Management; only at 03/31/2012, Zux Cayman Company Ltd. and Líbero Trading International Ltd. (6) Foreign consolidated information presents balances net of eliminations from consolidation. Itaú Unibanco Holding S.A. – Complete Financial Statements – Mach 31, 2013 188
NOTE 21 – RISK AND CAPITAL MANAGEMENT The purpose of risk identification is to map the risk events of internal and external nature that may affect the strategies of support and business units and the fulfillment of their objectives, with possibility of impact on ITAÚ UNIBANCO HOLDING’s income, capital, liquidity and reputation. Risk management is considered by ITAÚ UNIBANCO HOLDING an essential tool for optimizing the use of resources and selecting the best business opportunities, in order to maximize shareholder value. At ITAÚ UNIBANCO HOLDING, risk and capital management is the process in which: The existing and potential risks in ITAÚ UNIBANCO HOLDING's operations are identified and measured; Norms, procedures and methodologies for risk management and control consistent with the Board of Directors’ guidelines and ITAÚ UNIBANCO HOLDING’s strategies are approved; The ITAÚ UNIBANCO HOLDING’s risk portfolio is managed considering the best risk-return ratio; Risk management processes are spread throughout the whole institution, aligned with the guidelines of the Board of Directors and Executives that, through Committees of the Board of Directors and Senior Commissions, define the global objectives that are measured as goals and limits to the risk management units. Control units, in turn, support the ITAÚ UNIBANCO HOLDING’s management by monitoring and analyzing risk. In compliance with CMN Resolution No. 3,988, of June 30, 2011 ITAÚ UNIBANCO HOLDING implemented its capital management structure and is preparing the first report on internal capital adequacy assessment process (ICAAP), to be submitted to BACEN in September 2013, at the June 2013 reporting date. The capital management process supports ITAÚ UNIBANCO HOLDING through a continuing process of: Monitoring the capital requirement kept by ITAÚ UNIBANCO HOLDING in normal and stress scenarios, taking into account regulatory requirements and the Board of Directors’ guidelines; Planning targets and capital requirements, taking into account ITAÚ UNIBANCO HOLDING’s strategic objectives; Adopting a proactive attitude in relation to capital management. ITAÚ UNIBANCO HOLDING’s risk management organizational structure is compliant with the regulations in Brazil and abroad and in line with market best practices. The Market, Credit, Liquidity, Operational and Underwriting risks control is performed in a centralized way by an independent unit, aiming at assuring that the ITAÚ UNIBANCO HOLDING’s risks are being managed in accordance with established policies, norms and procedures. The purpose of centralizing control is to provide the Executives and the Board of Directors with an overview of ITAÚ UNIBANCO HOLDING’s risk exposure, as well as a prospective view on the adequacy of its capital so as to optimize and speed up corporate decision-making. ITAÚ UNIBANCO HOLDING manages proprietary IT systems to fully meet the applicable rules on capital reserve, pursuant to determinations and models issued by the Central Bank (BACEN). It also coordinates actions to check for adherence to qualitative and quantitative requirements established by the relevant authorities for compliance with the minimum mandatory capital requirement. Further information on risk management can be found on the website www.itau-unibanco.com.br/ri, under section Corporate Governance/Risk Management – Circular 3.477. Itaú Unibanco Holding S.A. – Complete Financial Statements – Mach 31, 2013 189
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financial report March 31, 2013 Ita
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management discussion analysis Ita
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Executive Summary Information and f
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Executive Summary Effects of the Re
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Executive Summary We present below
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Executive Summary Banking Services
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Executive Summary Credit Portfolio
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analysis of net income Itaú Uniban
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Analysis of Net Income Managerial F
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Analysis of Net Income Banking Serv
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Analysis of Net Income Result from
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Analysis of Net Income Non-interest
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Analysis of Net Income Points of Se
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alance sheet, balance sheet by curr
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Balance Sheet Short-term Interbank
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Balance Sheet Funding Mar 31, 13 De
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Balance Sheet by Currency We adopt
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Capital Ratios (BIS) Solvency Ratio
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Ownership Structure The management
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Annual and Extraordinary Stockholde
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analysis of segments, products and
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Analysis of Segments Pro Forma Adju
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Analysis of Segments The pro forma
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Analysis of Segments Wholesale Bank
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Products and Services Cards Through
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anking operations & insurance opera
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Banking Operations & Insurance Oper
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Insurance, Life and Pension Plan &
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Insurance The figures presented in
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Life and Pension Plan Pro Forma Rec
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activities abroad Itaú Unibanco Ho
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Activities abroad Main Operations i
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Activities abroad Latin America - B
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Activities abroad Itaú BBA Interna
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Itaú Unibanco Holding S.A. - Compl
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Banco Itaú BMG Consignado S.A. - i
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3.2) Income R$ billion Statement of
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Default At March 31, 2013, total de
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Custody Services - In the custody m
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In the January-March 2013 period, t
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ITAÚ UNIBANCO S.A. Chief Executive
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ITAÚ UNIBANCO HOLDING S.A. Consoli
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ITAÚ UNIBANCO HOLDING S.A. Stateme
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Itaú Unibanco Holding S.A. Stateme
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ITAÚ UNIBANCO HOLDING S.A. NOTES T
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In ITAÚ UNIBANCO HOLDING CONSOLIDA
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NOTE 3 - REQUIREMENTS OF CAPITAL AN
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During this period, the effects of
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Cash Flow Hedge - the effective amo
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Mathematical provisions for benefit
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NOTE 5 - CASH AND CASH EQUIVALENTS
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NOTE 7 - SECURITIES AND DERIVATIVE
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c) Trading securities See below the
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e) Held-to-maturity securities See
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I - Derivatives by index Memorandum
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II - Derivatives by counterparty Se
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III - Derivatives by notional amoun
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V - Accounting hedge a) The effecti
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VI - Realized and unrealized gain o
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j) Sensitivity analysis (TRADING AN
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II - By maturity and risk level 03/
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) Credit concentration Loan, lease
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e) Restricted operations on assets
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NOTE 9 - FOREIGN EXCHANGE PORTFOLIO
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c) Deposits received under securiti
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Page 142 and 143: ) Assets Guaranteeing Technical Pro
Page 144 and 145: NOTE 12 - CONTINGENT ASSETS AND LIA
Page 146 and 147: - Tax and social security lawsuits
Page 148 and 149: The main discussions related to Leg
Page 150 and 151: c) Receivables - Reimbursement of c
Page 152 and 153: ) Prepaid expenses Commissions 03/3
Page 154 and 155: d) Banking service fees 01/01 to 03
Page 156 and 157: f) Personnel expenses Compensation
Page 158 and 159: NOTE 14 - TAXES a) Composition of e
Page 160 and 161: ) Deferred taxes I - The deferred t
Page 162 and 163: III - The estimate of realization a
Page 164 and 165: d) Taxes paid or provided for and w
Page 166 and 167: II - Composition of investments 03/
Page 168 and 169: II) Goodwill CHANGES Amortization p
Page 170 and 171: NOTE 16 - STOCKHOLDERS’ EQUITY a)
Page 172 and 173: c) Capital and revenue reserves 03/
Page 174 and 175: f) Stock Option Plan I - Purpose an
Page 176 and 177: Summary of Changes in the Share-Bas
Page 178 and 179: NOTE 17 - RELATED PARTIES a) Transa
Page 180 and 181: ) Compensation of Management Key Pe
Page 182 and 183: To obtain the market values for the
Page 184 and 185: c) Defined benefit plan I - Main as
Page 186 and 187: V- Change in the net amount recogni
Page 190 and 191: I - Market Risk Market risk is the
Page 192 and 193: II - Credit Risk Credit risk is the
Page 194 and 195: NOTE 22 -SUPPLEMENTARY INFORMATION
Page 196 and 197: Report on Review To the Directors a
Page 198: ITAÚ UNIBANCO HOLDING S.A. CNPJ. 6
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