IRR310313.pdf - Banco Itaú

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Analysis of Net Income Efficiency Ratio and Risk-Adjusted Efficiency Ratio We present below the efficiency ratio and the risk-adjusted efficiency ratio, which includes the risk portions associated with banking transactions (result of the provision for loan losses) and insurance and pension plan transactions (claims). 70.7 70.5 70.9 71.9 72.3 73.5 74.2 73.9 49.3 48.5 47.4 46.6 45.8 45.3 45.2 46.1 73.1 70.1 70.7 73.9 74.2 75.3 73.4 72.8 48.2 47.1 47.0 44.4 44.9 45.0 46.6 48.0 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Quarter E.R. (%) Quarter R.A.E.R. (%) E.R. Cumulative figure of the last 12 months (%) R.A.E.R. Cumulative figure of the last 12 months (%) Risk Ajusted Efficiency Ratio = Non-Interest Expenses (Personnel Expenses + Administrative Expenses + Operating Expenses + Other Tax Expenses) +Insurance Selling Expenses + Result from Loan Losses + Retained Claims (Managerial Financial Margin + Banking Service Fees and Banking Charges + Operating Result of Insurance, Capitalization and Pension Plans before Retained Claims and Insurance Selling Expenses - Tax Expenses for ISS, PIS, Cofins and Other Taxes) Risk-Adjusted Efficiency Ratio In the first quarter of 2013, the risk-adjusted efficiency ratio, in the full concept (that includes all expenses), reached 72.8%, a decrease of 60 basis points from the fourth quarter of 2012.This decrease was mainly due to the evolution of the result from loan losses (a decrease of 14.9%) and to the decreases in non-interest expenses and selling expenses. These decreases were partially offset by the decrease of 5.6% in operating revenues, due to the decrease in financial margins (of 8.6%, as a result of the 31.8% decrease in the financial margin with the market and of the change in the product mix in 2012) and to the characteristic seasonality of the fourth quarter (when banking service fees are usually higher). In the last 12 months, the risk-adjusted efficiency ratio reached 73.9%, a decrease of 30 basis points when compared to the previous quarter. Efficiency Ratio The efficiency ratio for the first quarter of 2013, in the full concept (that includes all expenses), was 48.0%, an increase of 140 basis points from the fourth quarter of 2012, due to the decrease in operating revenues (5.6% from the previous quarter), partially offset by the decrease in non-interest expenses (2.5% from the previous quarter). In the 12-month period, the efficiency ratio reached 46.1%, a decrease of 50 basis points from the same period of the previous year. Usage of Operating Revenues The chart below shows the portions of the operating revenues that are used to cover non-interest expenses, result from loan losses and expenses with claims. Operating Revenues (*) (-) Efficiency Ratio (-) Loan Losses and Retained Claims Net of Recovery/ Operating Revenues (*) (+) = Income before Tax and Profit Sharing / Operating Revenues (*) Risk Adjusted Efficiency Ratio % Operating Revenues (*) 48.2 47.1 47.0 44.4 44.9 24.9 23.0 23.7 29.5 29.3 45.0 30.3 46.6 26.7 48.0 24.9 E.R. R.A.E.R 1Q13 72.8% 26.9 29.9 29.3 26.1 25.8 24.7 26.6 27.2 Income before Tax and Profit Sharing 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 (*) Net of Tax Expenses for ISS, PIS and Cofins and Other. Management Discussion & Analysis Itaú Unibanco Holding S.A. 24
Analysis of Net Income Points of Service At the end of the first quarter of 2013, our network comprised 4,957 branches and client service branches (CSB), including Brazil and abroad. Branches and Client Service Branches (CSB) | Brazil and Abroad 4,907 4,920 4,961 4,949 4,970 4,977 4,983 4,957 Tax Expenses for ISS, PIS, Cofins and Other Tax expenses amounted to R$1,041 million in the first quarter of 2013, a decrease of 7.8% from the previous quarter. Income Tax and Social Contribution on Net Income In the first quarter of 2013, Income Tax and Social Contribution on Net Income (CSLL) expenses totaled R$1,295 million, a R$164 million decrease from the previous period. 3,970 3,983 4,049 4,056 4,075 4,081 4,083 4,075 Unrealized Gains R$ million 6,946 5,796 6,120 937 937 912 893 895 896 900 882 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 Branches Client Service Branches (CSB) 3,477 2,934 3,529 4,126 4,739 Note: Includes Banco Itaú BBA, Banco Itaú Argentina and Chile, Uruguay and Paraguay companies. In this quarter, the service network criteria for Latin America was improved, aligned to the concepts used in the holding. The changes were mainly applied to small points of service linked to branches that were excluded from the total. Automated Teller Machines (ATMs) | Brazil and Abroad In the first quarter of 2013, the number of ATMs totaled approximately 28 thousand, representing a 0.3% decrease from the previous quarter. 2Q/11 3Q/11 4Q/11 1Q/12 2Q/12 3Q/12 4Q/12 1Q/13 Unrealized gains decreased 22.6% from the previous quarter and totaled R$4,739 million at the end of the first quarter of 2013. The balance of unrealized gains from our available-for-sale securities portfolio reached R$1,240 million in March 2013. In December 2012, the balance of unrealized gains of this portfolio amounted to R$2,783 million. This decrease was mainly due to the impact of future interest rates and the country risk on the prices in this portfolio, which is marked to market. 29,543 29,230 28,769 27,994 27,789 27,817 27,960 27,866 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 Note: (i) Includes Banco Itaú Argentina and Chile, Uruguay and Paraguay companies. (ii) Includes ESBs (Electronic Service Branches) and service points in third-party establishments. (iii) Does not include points of sale and ATMs of Banco 24h. Management Discussion & Analysis Itaú Unibanco Holding S.A. 25
Page 1 and 2: financial report March 31, 2013 Ita
Page 3 and 4: management discussion analysis Ita
Page 5 and 6: Executive Summary Information and f
Page 7 and 8: Executive Summary Effects of the Re
Page 9 and 10: Executive Summary We present below
Page 11 and 12: Executive Summary Banking Services
Page 13 and 14: Executive Summary Credit Portfolio
Page 15 and 16: analysis of net income Itaú Uniban
Page 17 and 18: Analysis of Net Income Managerial F
Page 19 and 20: Analysis of Net Income Banking Serv
Page 21 and 22: Analysis of Net Income Result from
Page 23: Analysis of Net Income Non-interest
Page 27 and 28: alance sheet, balance sheet by curr
Page 29 and 30: Balance Sheet Short-term Interbank
Page 31 and 32: Balance Sheet Funding Mar 31, 13 De
Page 33 and 34: Balance Sheet by Currency We adopt
Page 35 and 36: Capital Ratios (BIS) Solvency Ratio
Page 37 and 38: Ownership Structure The management
Page 39 and 40: Annual and Extraordinary Stockholde
Page 41 and 42: analysis of segments, products and
Page 43 and 44: Analysis of Segments Pro Forma Adju
Page 45 and 46: Analysis of Segments The pro forma
Page 47 and 48: Analysis of Segments Wholesale Bank
Page 49 and 50: Products and Services Cards Through
Page 51 and 52: anking operations & insurance opera
Page 53 and 54: Banking Operations & Insurance Oper
Page 55 and 56: Insurance, Life and Pension Plan &
Page 57 and 58: Insurance The figures presented in
Page 59 and 60: Life and Pension Plan Pro Forma Rec
Page 61 and 62: activities abroad Itaú Unibanco Ho
Page 63 and 64: Activities abroad Main Operations i
Page 65 and 66: Activities abroad Latin America - B
Page 67 and 68: Activities abroad Itaú BBA Interna
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Page 72 and 73: 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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e) Borrowings and onlending BORROWI
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Description Name of security / Curr
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) Assets Guaranteeing Technical Pro
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NOTE 12 - CONTINGENT ASSETS AND LIA
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- Tax and social security lawsuits
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The main discussions related to Leg
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c) Receivables - Reimbursement of c
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) Prepaid expenses Commissions 03/3
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d) Banking service fees 01/01 to 03
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f) Personnel expenses Compensation
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NOTE 14 - TAXES a) Composition of e
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) Deferred taxes I - The deferred t
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III - The estimate of realization a
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d) Taxes paid or provided for and w
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II - Composition of investments 03/
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II) Goodwill CHANGES Amortization p
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NOTE 16 - STOCKHOLDERS’ EQUITY a)
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c) Capital and revenue reserves 03/
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f) Stock Option Plan I - Purpose an
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Summary of Changes in the Share-Bas
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NOTE 17 - RELATED PARTIES a) Transa
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) Compensation of Management Key Pe
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To obtain the market values for the
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c) Defined benefit plan I - Main as
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V- Change in the net amount recogni
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NOTE 20 - INFORMATION ON FOREIGN SU
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I - Market Risk Market risk is the
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II - Credit Risk Credit risk is the
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NOTE 22 -SUPPLEMENTARY INFORMATION
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Report on Review To the Directors a
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ITAÚ UNIBANCO HOLDING S.A. CNPJ. 6
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