IRR310313.pdf - Banco Itaú

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Balance Sheet Credit Portfolio by Risk Level On March 31, 2013 the share of credits rated “AA” to “C” in the total portfolio was 91.9%, an increase of 50 basis points when compared to the previous quarter. Evolution of Loan Portfolio by Risk Level 9.9% 9.4% 9.6% 9.6% 9.0% 8.9% 8.6% 8.1% 4.8% 4.5% 4.8% 5.5% 5.2% 5.1% 6.2% 6.2% 8.2% 8.2% 8.2% 9.4% 9.7% 9.8% 9.2% 8.9% 40.9% 37.6% 37.2% 35.4% 35.3% 34.0% 33.4% 33.4% 36.2% 40.3% 40.3% 40.1% 40.8% 42.2% 42.6% 43.4% Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 AA A B C D-H Credit Portfolio by Business Sector (excluding endorsements and sureties) The changes in the portfolio of credit to companies are listed below: R$ million Business Sector Mar 31,13 Dec 31,12 Variation Mar 31,13- Dec 31,12 Transportation 17,043 17,022 21 0.1% Real estate 14,508 14,137 371 2.6% Vehicles and autoparts 13,268 12,497 771 6.2% Agribusiness and fertilizers 11,512 11,769 (257) -2.2% Food and beverage 10,296 10,303 (7) -0.1% Steel and metallurgy 8,882 8,470 412 4.9% Sugar and alcohol 7,782 7,419 363 4.9% Capital assets 7,752 7,199 553 7.7% Petrochemical and chemical 5,810 5,722 88 1.5% Energy and sewage 5,770 5,677 93 1.6% Construction material 5,385 5,328 56 1.1% Clothing and footwear 5,205 5,322 (117) -2.2% Electronic and IT 4,834 5,143 (309) -6.0% Infrastructure work 4,712 4,496 217 4.8% Pharmaceuticals and cosmetics 4,224 4,142 82 2.0% Banks and other financial institutions 3,675 3,772 (97) -2.6% Leisure and tourism 3,435 3,451 (16) -0.5% Oil and gas 3,360 3,261 100 3.1% Mining 2,917 2,729 188 6.9% Pulp and paper 2,836 3,041 (205) -6.7% Other 64,440 64,571 (131) -0.2% Total 207,647 205,471 2,176 1.1% Credit Concentration Our loan, lease and other credit operations, including endorsements and sureties, are diversified in our credit portfolio, so that, at the end of March 2013, only 21.2% of the credit risk was concentrated in the 100 largest debtors. The credit concentration of the 100 largest debtors is as follows: R$ million Loan, lease and other credit operations Risk Mar 31,13 % of Total % of Total Assets Largest debtor 4,698 1.1 0.5% 10 largest debtors 28,320 6.5 2.8% 20 largest debtors 44,466 10.2 4.3% 50 largest debtors 69,836 16.1 6.8% 100 largest debtors 92,329 21.2 9.0% Operations under Renegotiation According to the rules of the 2,682/99 CMN Resolution, balances of all contracts that have had changes to their original contractual terms must be reported as renegotiated loans, even if they are not overdue. With the intention of improving the understanding, as from this quarter we began to disregard the renegotiated loans not overdue or less than 30 days overdue, reflecting the changes in the original contractual terms, as shown below: R$ million Portfolio LLP % Amended Credit Agreements 19,124 (8,493) 44.4% Amended Operations non-overdue (5,108) 1,417 27.7% Renegotiated Loan Operations 14,016 (7,076) 50.5% Further information on note 8-d of our financial statements. On March 31, 2013, the portfolio of operations under renegotiation decreased R$503 million from the previous quarter and reached R$14,016 million, which represents 3.8% of our credit portfolio (a decrease of 20 basis points from the previous quarter). At the end of the first quarter of 2013, the ratio of the allowance for loan losses to the portfolio renegotiated was 50.5%. The chart below presents the changes in the past few quarters: 3.2% 3.3% 3.4% 47.3% 45.4% 45.0% 44.1% 45.7% 3.8% 4.0% 4.0% 4.0% 3.8% 49.6% 50.3% 50.5% Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 Provision for Loan and Lease Losses / Reneg. Portfolio Reneg. Portfolio / Total Credit Portfolio The portfolio of operations under renegotiation, includes both renegotiated operations from the portfolio that had already been written off as losses and overdue and renegotiated operations. At the time of renegotiating credits written off as losses, we recognize a provision for the total amount renegotiated (not generating an immediate result) that is reversed only when there is a strong indication of the recovery of this credit (after payments are received on a regular basis for a few months). The 90-day non-performing loans (NPL) in the renegotiated portfolio reached R$4,677 million, which caused the 90-day NPL ratio to reach 33.4%. The coverage ratio of the corresponding allowance for loan losses was 151% on March 31, 2013. The overall over 90 days of the bank presented in the report does include the NPL on renegotiated credits. Other and Permanent Assets The “other assets” item comprises “Foreign Exchange Portfolio”, “Tax Credits”, “Taxes and Contributions for Offset” and “Escrow Deposits”. In the first quarter of 2013, our “other assets” reached R$ 132,583 million (a 5.3% increase), due to the increased foreign exchange portfolio. The tax credit balance reached R$ 36.3 billion (an increase of 0.5% from the previous quarter). Of this total, R$ 31.9 billion refers to temporary differences between disbursed and non disbursed provisions, and R$ 4.4 billion (12.1% of total tax credits) refers to tax losses and social contribution tax loss carryforwards, and social contribution for offset. Our permanent assets, in the amount of R$13,378 million, are represented by “Non-Consolidated Investments in Brazil and Abroad”, “Fixed Assets” and “Deferred Charges”. In this quarter, this category represented 1.3% of total assets and increased 1.3% in relation to the previous quarter. Management Discussion & Analysis <strong>Itaú</strong> Unibanco Holding S.A. 30
Balance Sheet Funding Mar 31, 13 Dec 31, 12 Mar 31, 12 Mar 31,13 - Dec 31,12 Variation R$ million Mar 31,13 - Mar 31,12 Demand Deposits 33,718 34,916 26,903 -3.4% 25.3% Savings Deposits 87,072 83,451 68,488 4.3% 27.1% Time Deposits 109,321 117,232 127,385 -6.7% -14.2% Debentures (Linked to Repurchase Agreements and Third Parties’ Operations) 122,316 129,222 110,480 -5.3% 10.7% Funds from Bills (1) 36,151 37,539 37,318 -3.7% -3.1% (1) Total - Funding from Account Holders and Institutional Clients (*) 388,578 402,360 370,574 -3.4% 4.9% Onlending 38,826 36,048 34,932 7.7% 11.1% (2) Total – Funding from Clients 427,403 438,408 405,505 -2.5% 5.4% Assets Under Administration (2) 581,918 561,958 524,894 3.6% 10.9% Technical Provisions for Insurance, Pension Plan and Capitalization 96,624 93,210 77,830 3.7% 24.1% (3) Total – Clients 1,105,945 1,093,576 1,008,229 1.1% 9.7% Interbank deposits 8,444 7,600 8,569 11.1% -1.5% Funds from Acceptance and Issuance of Securities 16,069 15,999 10,953 0.4% 46.7% Total Funds from Clients + Interbank Deposits 1,130,458 1,117,175 1,027,751 1.2% 10.0% Repurchase Agreements (3) 174,844 161,165 103,253 8.5% 69.3% Borrowings 24,065 23,077 17,142 4.3% 40.4% Foreign Exchange Portfolio 40,634 31,104 49,364 30.6% -17.7% Subordinated Debt 52,031 54,372 44,984 -4.3% 15.7% Collection and payment of Taxes and Contributions 4,896 399 5,837 1127.1% -16.1% Free Assets (4) 62,735 61,910 62,579 1.3% 0.2% Free Assets and Other 359,206 332,027 283,159 8.2% 26.9% Total Funds (Free, Raised and Managed Assets) 1,489,664 1,449,203 1,310,910 2.8% 13.6% (*) Funds from Institutional Clients totaled R$23,339 million, which corresponds to 6.0% of the total raised with Account Holders and Institutional Clients. (1) It includes funds from Real Estate, Mortgage, Financial, Credit and Similar Notes. (2) In December 2012, we began consolidating the exclusive investment funds for the implementation of consolidated subsidiaries. (3) It does not include own issued debentures, classified as funding. (4) Stockholders’ Equity + Minority Interests - Permanent Assets. On March 31, 2013, total funds from clients, including interbank deposits, amounted to R$1.1 trillion, corresponding to an increase of R$13,283 million from the fourth quarter. The main drivers were increases of R$19,960 million in funds obtained through investment funds and assets under administration, of R$3,620 million in savings deposits, of R$3,414 million in technical provisions for insurance, pension plan and capitalization, of R$2,778 million in onlendings, partially offset by the decreases of R$7,910 million in time deposits, of R$ 6,906 million in debentures and of R$ 1,388 million in funds from notes. The debentures issued made by leasing companies of the conglomerate, after purchased by the bank (the Conglomerate’s leading company) , are traded with the same features as a time deposit or other deposits, although they are classified as deposits received under securities repurchase agreements. Therefore, these deposits are reclassified in the table above as deposits from account holders. In the first quarter of 2013, this type of funding totaled R$121,259 million, including institutional clients. Total funds (free, raised and managed assets) amounted to approximately R$1.5 trillion on March 31, 2013, an increase of R$40,461 million when compared to December 31, 2012, mainly driven by the increase in funds from clients and repurchase agreements. In the last 12 months, we highlight the increase of R$102,707 million in funds obtained from clients, mainly due to the increase in investment funds, assets under administration and savings deposits, partially offset by the decrease in time deposits. Total funds (free, raised and managed assets) grew R$178,754 million. Funds from clients (1) 862.4 901.7 967.3 1,027.8 1,034.6 602.7 597.4 1,069.3 623.7 1,117.2 1,130.5 655.2 678.5 R$ billion 484.7 493.5 523.4 244.4 266.3 293.3 275.2 275.4 279.4 284.0 267.8 96.1 104.4 107.2 118.4 120.8 84.5 89.4 95.4 Jun/11 Sep/11 Dec/11 Mar/12 Jun/12 Sep/12 Dec/12 Mar/13 Demand and Savings Deposits Time Deposits + Debentures + Funds from Bills Assets Under Administration + Technical Provisions for Insurance, Pension Plan and Capitalization Total Funds from Clients + Interbank Deposits (1) It includes institutional clients in the proportion of each type of product invested by them. Management Discussion & Analysis <strong>Itaú</strong> Unibanco Holding S.A. 31
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 and 24: Analysis of Net Income Non-interest
Page 25 and 26: Analysis of Net Income Points of Se
Page 27 and 28: alance sheet, balance sheet by curr
Page 29: Balance Sheet Short-term Interbank
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
Page 74 and 75: Banco Itaú BMG Consignado S.A. - i
Page 76 and 77: 3.2) Income R$ billion Statement of
Page 78 and 79: 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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IRR310313.pdf - Banco Itaú

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