IRR310313.pdf - Banco Itaú

Capital Ratios (BIS)
Solvency Ratios | Economic-Financial Consolidated
On March 31, 2013, the stockholders' equity of the parent
company totaled R$74,416 million, an increase of R$196 million in
relation to December 31, 2012.
The BIS ratio reached 17.7%, a 100 basis point increase from
December 31, 2012, mainly due to the decrease of R$31,325
million in the total exposure weighted by risk and to the increase
in the Referential Equity Tier I.
This ratio exceeds the minimum of 11% required by the Central
Bank of Brazil and indicates an excess of capital of R$42.0 billion,
allowing for the increase of up to R$382.2 billion in credit assets
based on an 100% risk-weighting. If the remaining values of
assets realization and the complementary allowance for loan
losses in the reference equity were taken into consideration, our
BIS Ration would have been 18.7%.
Mar 31, 13 Dec 31, 12 Mar 31, 12
Solvency Ratios
16.1%
12.5%
Mar/12
16.7%
10.9%
Dec/12
Mar 31,13–
Dec 31,12
R$ million
Variation
Mar 31,13 –
Mar 31,12
Stockholder´s Equity of Parent Company 74,416 74,220 72,484 196 1,932
Referential Equity Tier I 73,426 72,007 72,860 1,419 567
Referential Equity Tier II 37,202 37,414 21,092 (212) 16,110
Total exposure weighted by risk 623,547 654,872 584,827 (31,325) 38,720
Ratios (%)
BIS (Referential Equity / Total exposure weighted by risk) 17.7 16.7 16.1 100 bps 160 bps
Tier I 11.7 10.9 12.5 80 bps -80 bps
Tier II 6.0 5.8 3.6 20 bps 240 bps
The evolution of the BIS ratio and Referential Equity Tier I is
presented below.
17.7%
11.7%
Mar/13
BIS
Tier I
Note: The BIS ratio of the financial system consolidated (another criterion used by the Central Bank of Brazil) reached 18.9% on March 31, 2013. The difference between the BIS
ratios of the financial conglomerate and the economic-financial consolidated (CONEF) arises from the inclusion of non-financial subsidiaries in the economic-financial
consolidated, the funds of which may, when necessary, be distributed to financial companies through the payment of dividends/JCP (interest on net equity) or corporate
restructuring.
Referential Equity | Economic-Financial Consolidated
R$ million
Variation
Mar 31,13 Dec 31,12 Mar 31,12
Mar 31,13– Mar 31,13–
Dec 31,12 Mar 31,12
Referential Equity Tier I 73,426 66.4% 72,007 65.8% 72,860 77.6% 1,419 567
Referential Equity Tier II (*) 37,202 33.6% 37,414 34.2% 21,092 22.4% (212) 16,110
Referential Equity 110,629 109,421 93,951 1,208 16,678
(*)
It takes into consideration the redeemable non-voting shares and the exclusion of credit instruments issued by financial institutions and adjustments to market value —
securities and derivatives.
On March 31, 2013, our Referential Equity reached R$110,629
million, an increase of R$1,208 million when compared to
December 31, 2012, mainly due to the increase in Tier I. When
compared to the same period of the previous year, the
Referential Equity increased R$16,678 million.
Aiming at ensuring the soundness of Itaú Unibanco and the
capital availability to support the business growth, the levels of
Referential Equity were maintained well above the Required
Preferential Equity, as demonstrated by the BIS ratio. Therefore,
the capital levels are more than sufficient to cover the risks.
The Circular No. 3,608, of August 17, 2012, changed the
procedures for the calculation of the Required Referential Equity
portion related to the foreign currency risk (PCAM), mentioned in
the Circular No. 3,568.
Until to December 31, 2013, if exposures were equal to or lower
than 2% of the Referential Equity, the PCAM portion (portion
related to the risk of exposures in gold, foreign exchange
currency and transactions subject to foreign exchange variations)
shall be zero. If the rule were still in effect, the ratios would
decrease by approximately 0.2%
Subordinated Debt and Referential Equity Tier II | Mar 31, 2013
Maturities
< 1 year 1 - 2 years 2 - 3 years 3 - 4 years 4 - 5 years > 5 years Total
CDB 203 5,039 4,642 1,452 - - 11,336
Financial Treasury Bills 450 - - 3,424 9,931 9,565 23,370
Euronotes 222 - - - - 15,485 15,706
Subordinated Debt 875 5,039 4,642 4,876 9,931 25,050 50,413
Subject to approval - Central Bank of Brazil (*) and Other 27 - 75 1 - 1,515 1,618
Subordinated Debt - Total 902 5,039 4,718 4,877 9,931 26,565 52,031
(*)
Subordinated debt that does not make up the Tier II Referential Equity.
R$ million
Subordinated Debt (part of Referential Equity Tier II) - 1,008 1,857 2,926 7,945 22,978 36,713
Management Discussion & Analysis
Itaú Unibanco Holding S.A.
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