IRR310313.pdf - Banco Itaú

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Products and Services The results of each product and service are classified in the segments according to the characteristics of the operations. Accordingly, some of the products and services listed below may be included in more than one segment. Mortgage Loans At the end of the first quarter of 2013, including securitized loans, the mortgage loan portfolio amounted to R$27,649 million, with a growth of 5.4% and 27.4%, in the quarter, as compared to the previous quarter and to March 2012, respectively. The individuals portfolio, totaling R$19,518 million at the end of the first quarter, increased 5.9% when compared to the previous quarter and 29.4% in relation to March 2012, thus keeping the pace of expansion that characterized the real estate market in the past quarters. At the end of March 2013, the companies portfolio totaled R$8,131 million. In the first quarter of 2013, the volume of new mortgage loan financing contracts for individuals was R$2,020 million, whereas financing to companies amounted to R$527 million, totaling R$2,547 million. Volume of Originations R$ million The mentioned growths made the payroll loan portfolio reach R$16,261 million in March 2013, an increase of 20.0% compared to December 2012. Year-on-year, the payroll loan portfolio increased 47.1% (R$ 5,207 million). Vehicle Financing The vehicle financing portfolio to individuals amounted to R$48,532 million at the end of the first quarter of the year. New vehicle financing and leasing transactions totaled R$4,655 million, an increase of 17.7% from the previous quarter. Default Levels and Selectivity The NPL over 90 days of Itaú Unibanco, measured by vintages four months after the origination, reached its peak, 1.61%, in April 2011. The negative performance led to a stricter selectivity in origination since the second half of 2011, affecting the approval rates of new financing contracts and risk profile of clients. The new criteria for origination led to a decrease in the default levels in the most recent vintages. 1Q13 4Q12 1Q12 Individuals 2,020 2,079 1,798 Companies 527 1,549 1,016 Total 2,547 3,628 2,814 Average Term and Down Payments (Itaú Unibanco) Payroll Loans A payroll loan is a loan with fixed installments that are directly deducted from the borrower’s payroll. In the last quarter of 2012, we incorporated a new financial institution - Banco Itaú BMG Consignado S.A. - in partnership with Banco BMG S.A. (controlled by Itaú Unibanco), aiming at the offering, distribution and sale of payroll loans in Brazil. This partnership enables us to expand our business in this segment and operates under our transparency values and principles, following our good management practices and policies. This operation aims at diversifying our credit portfolio, supplementing our payroll loan strategy, and improving the risk profile of our individuals loan portfolio. The highlights of the portfolio were loans to the retirees and pensioners of the INSS, which presented the highest growth in the payroll loan portfolio, and the increase in the loan portfolio of Itaú BMG Consignado, with assets of R$ 1,522 million. 53 50 48 47 24 28 31 32 33 37 36 37 2010 1H11 2H11 1Q12 2Q12 3Q12 4Q12 1Q13 Average Down Payment (%) 44 42 42 Average Term (months) The chart below shows that the NPL over 90 days, based on vintages originated in November 2012, decreased 140 basis points from the peak of default rate levels, reaching 0.25%. In July 2012, our default rate levels reached 38.2% of the market level, not including Itaú Unibanco itself. NPL over 90 (%) | 4 months after vehicle financing origination 42 Evolution of the Payroll Loan Portfolio R$ million 11,054 11,677 9,124 9,754 10,107 12,547 13,550 +20.0% 16,261 1.88 1.82 1.69 1.55 1.58 1.66 1.62 1.26 1.28 1.37 1.61 1.30 1.16 1.41 1.28 1.20 1.20 0.78 0.78 0.720.650.54 0.91 0.760.72 0.38 0.42 0.58 0.51 0.43 0.39 0.52 0.40 0.310.34 0.36 0.210.160.16 0.22 0.17 0.25 jan/11 feb/11 Mar-11 apr/11 may/11 Itaú Unibanco jun/11 Jul-11 aug/11 sep/11 oct/11 Nov-11 dec/11 jan/12 feb/12 Mar-12 apr/12 may/12 Jun-12 (financing grant month) Market excluding Itaú Unibanco Jul-12 aug/12 sep/12 oct/12 Nov-12 30/Jun/11 30/Sep/11 31/Dec/11 31/Mar/12 30/Jun/12 30/Sep/12 31/Dec/12 31/mar/13 Source: Central Bank of Brazil. Note: In March 2013, the historical series of the market disclosed in the “Financial Stability Report” was improved. Management Discussion & Analysis Itaú Unibanco Holding S.A. 48
Products and Services Cards Through proprietary and partnership operations, we offer a wide range of credit and debit cards to more than 58.2 million current and non-current account holders (in number of accounts). In the first quarter of 2013, the volume of transactions amounted to R$57,746 million, an increase of 12.9% from the same period of the previous year. Credit Cards We are a leading player in the Brazilian credit card market. Through Itaucard, Hipercard, joint ventures and commercial agreements with major retailers in the Brazilian market, we have reached 32.8 million client accounts, including both current and non-current account holders. This quarter, we continued to reduce the number of partnerships to concentrate on business of larger scale, in line with the efficiency-gain strategy. At the same time, we kept the more conservative financing policy in order to maintain the credit quality of our card portfolio. In the first quarter of 2013, the volume of credit card transactions amounted to R$43,779 million, which corresponds to an increase of 12.2% from the same period of the previous year. This quarter, the volume of transactions totaled R$74.0 billion, an increase of 9.9% from the fourth quarter of 2012 and of 18.1% from the same period of the previous year. Credit Card Transactions In the first quarter of 2013, the volume of credit card transactions was R$47.4 billion, representing 64.1% of the total volume of transactions generated by the acquiring services, an increase of 13.5% from the same period of the previous year. In relation to the fourth quarter of 2012, when there is a seasonal increase in consumption, service revenues from credit cards decreased R$74.4 million, or 11.4%. 548.8 557.8 42,966 44,000 605.6 46,847 530.7 41,754 43,575 556.6 562.4 45,147 651.7 52,976 577.2 47,406 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 38.0 35.6 34.3 33.1 34.7 33.9 33.3 32.8 Credit Card Transaction Volume (R$ million) Acquiring service revenues - Credit Cards (R$ million) 37,374 38,979 43,706 39,006 42,743 43,417 49,363 43,779 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Credit Card Transaction Volume (R$ million) Card Accounts - do not include additional cards (in millions) Note: Personal Loan and Consumer Credit products are not taken into consideration. For demonstration purposes, the volumes and results presented here include the portion corresponding to current account holders. Debit Card Transactions In the first quarter of 2013, the volume of debit card transactions was R$26.6 billion, representing 35.9% of the total transaction volume, a decrease of 8.7% from the fourth quarter of 2012 and an increase of 27.3% from the same period of the previous year. In relation to the fourth quarter of 2012, when there is a seasonal increase in consumption, service revenues from debit cards decreased R$18.3 million, or 8.9%. Debit Cards In the debit card segment, which includes only current account holders, we have 25.5 million accounts The volume of debit card transactions amounted to R$13,967 million in the first quarter of 2013, a 15.1% increase from the same period of the previous year. 134.4 145.3 18,201 19,959 172.5 23,544 153.7 153.2 20,854 20,916 168.1 23,337 206.4 29,060 188.0 26,545 22.2 22.8 23.5 23.9 24.2 24.3 24.5 25.5 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Debit Card Transaction Volume (R$ million) Acquiring service revenues - Debit Cards (R$ million) 15,683 13,857 10,434 11,305 12,138 12,130 12,916 13,967 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Equipment Base (*) At the end of the first quarter of 2013, our base of active installed equipment reached 1,470 thousand units, showing a growth of 2.9% from the previous quarter. Debit Card Transaction Volume (R$ million) Card Accounts - do not include additional cards (in millions) Note: Data for March, 2013 are preliminary, calculated based on results obtained to date prior to the closing of the period. 1,430 1,296 1,262 1,256 1,270 1,332 1,429 1,470 Acquiring Our acquiring business comprises the process of capturing of transactions through the affiliation, management and relationship with commercial establishments through the companies Hipercard and Redecard. 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 (*) 100% of the equipment base of Redecard is able to capture Hipercard card transactions. Management Discussion & Analysis Itaú Unibanco Holding S.A. 49
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 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: Analysis of Segments Wholesale Bank
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
Page 80 and 81: Custody Services - In the custody m
Page 82 and 83: In the January-March 2013 period, t
Page 84 and 85: ITAÚ UNIBANCO S.A. Chief Executive
Page 86 and 87: ITAÚ UNIBANCO HOLDING S.A. Consoli
Page 92 and 93: ITAÚ UNIBANCO HOLDING S.A. Stateme
Page 94 and 95: Itaú Unibanco Holding S.A. Stateme
Page 96 and 97: 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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