IRR310313.pdf - Banco Itaú

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Executive Summary The reconciliations between the Accounting and Managerial Statements of Income of the last two quarters are presented below: Reconciliation between the Accounting and Managerial Statements | 1 st Quarter of 2013 Accounting Non-recurring Effects Itaú Unibanco Tax Effect of Hedge Managerial Reclassifications R$ million Managerial Operating Revenues 19,118 32 (118) (216) 18,817 Managerial Financial Margin 11,722 32 (118) (111) 11,526 Financial Margin with Clients 11,007 32 - (111) 10,929 Financial Margin with Market 715 - (118) - 597 Banking Service Fees and Income from Banking Charges 5,580 - - (459) 5,122 Results from Insurance, Pension Plan and Capitalization - - Operations Before Retained Claims and Selling Expenses 1,681 488 2,169 Other Operating Income 55 - - (55) - Equity in Earnings of Affiliates and Other Investments 68 - - (68) - Non-operating Income 11 - - (11) - Loan and Retained Claim Losses Net of Recovery (4,426) - - 6 (4,420) Expenses for Allowance for Loan and Lease Losses (4,945) - - 6 (4,939) Income from Recovery of Loans Written Off as Losses 1,086 - - - 1,086 Retained Claims (567) - - - (567) Other Operating Income/(Expenses) (9,756) 34 15 140 (9,568) Non-interest Expenses (8,453) 34 - 140 (8,280) Tax Expenses for ISS, PIS, Cofins and Other Taxes (1,056) - 15 - (1,041) Selling Expenses from Insurance (247) - - - (247) Income before Tax and Profit Sharing 4,936 66 (103) (71) 4,828 Income Tax and Social Contribution (1,381) (26) 103 9 (1,295) Profit Sharing (61) - - 61 - Minority Interests (21) - - - (21) Net Income 3,472 40 - - 3,512 Reconciliation between the Accounting and Managerial Statements | 4 th Quarter of 2012 Itaú Unibanco R$ million Accounting Non-recurring Effects Tax Effect of Hedge Managerial Reclassifications Managerial Operating Revenues 20,749 (1,085) 191 77 19,932 Managerial Financial Margin 12,151 74 191 191 12,608 Financial Margin with Clients 11,475 74 - 184 11,732 Financial Margin with Market 677 - 191 8 875 Banking Service Fees and Income from Banking Charges 5,198 309 - (358) 5,149 Results from Insurance, Pension Plan and Capitalization Operations Before Retained Claims and Selling Expenses 1,642 - - 534 2,176 Other Operating Income 85 - - (85) - Equity in Earnings of Affiliates and Other Investments 145 - - (145) - Non-operating Income 1,527 (1,468) - (60) - Loan and Retained Claim Losses Net of Recovery (5,376) 381 - (32) (5,027) Expenses for Allowance for Loan and Lease Losses (6,066) 381 - (56) (5,741) Income from Recovery of Loans Written Off as Losses 1,186 - - 24 1,210 Retained Claims (496) - - - (496) Other Operating Income/(Expenses) (11,141) 1,310 (19) (48) (9,898) Non-interest Expenses (9,766) 1,310 - (34) (8,491) Tax Expenses for ISS, PIS, Cofins and Other Taxes (1,097) - (19) (14) (1,130) Selling Expenses from Insurance (278) - - - (278) Income before Tax and Profit Sharing 4,232 606 172 (3) 5,008 Income Tax and Social Contribution (693) (596) (172) 2 (1,459) Profit Sharing (36) - - 36 - Minority Interests (12) - - (36) (47) Net Income 3,492 10 - - 3,502 Management Discussion & Analysis Itaú Unibanco Holding S.A. 8
Executive Summary We present below a perspective of the income statement highlighting the Operating Revenues, which are composed of the sum of revenues from banking, insurance, pension plans and capitalization operations. Statement of Income | Operating Revenues Perspective 1Q13 4Q12 1Q12 Variation Operating Revenues 18,817 19,932 19,518 (1,116) -5.6% (701) -3.6% Managerial Financial Margin 11,526 12,608 13,217 (1,081) -8.6% (1,691) -12.8% Financial Margin with Clients 10,929 11,732 12,259 (803) -6.8% (1,330) -10.8% Financial Margin with Market 597 875 958 (278) -31.8% (361) -37.7% Banking Service Fees and Income from Banking Charges 5,122 5,149 4,311 (27) -0.5% 811 18.8% Result from Insurance, Pension Plan and Capitalization Operations Before Retained Claims and Selling Expenses 2,169 2,176 1,989 (7) -0.3% 179 9.0% Loan and Retained Claim Losses Net of Recovery (4,420) (5,027) (5,463) 606 -12.1% 1,043 -19.1% Expenses for Allowance for Loan and Lease Losses (4,939) (5,741) (6,210) 801 -14.0% 1,271 -20.5% Income from Recovery of Loans Written Off as Losses 1,086 1,210 1,212 (124) -10.3% (126) -10.4% Retained Claims (567) (496) (465) (71) 14.3% (102) 22.0% Operating Margin 14,396 14,906 14,055 (509) -3.4% 341 2.4% Other Operating Income/(Expenses) (9,568) (9,898) (9,228) 330 -3.3% (340) 3.7% Non-interest Expenses (8,280) (8,491) (7,956) 211 -2.5% (324) 4.1% Tax Expenses for ISS, PIS, Cofins and Other Taxes (1,041) (1,130) (1,026) 89 -7.8% (15) 1.4% Selling Expenses From Insurance (247) (278) (246) 30 -10.9% (1) 0.5% Income before Tax and Profit Sharing 4,828 5,008 4,827 (180) -3.6% 1 0.0% Income Tax and Social Contribution (1,295) (1,459) (1,302) 164 -11.2% 7 -0.5% Minority Interests in Subsidiaries (21) (47) 19 26 -56.0% (39) -210.6% Recurring Net Income 3,512 3,502 3,544 10 0.3% (32) -0.9% We present below a perspective of the income statement highlighting the Managerial Financial Margin. 1Q13 - 4Q12 1Q13 - 1Q12 R$ million Statement of Income | Managerial Financial Margin Perspective 1Q13 4Q12 1Q12 Variation Managerial Financial Margin 11,526 12,608 13,217 (1,081) -8.6% (1,691) -12.8% Financial Margin with Clients 10,929 11,732 12,259 (803) -6.8% (1,330) -10.8% Financial Margin with Market 597 875 958 (278) -31.8% (361) -37.7% Loan and Retained Claim Losses Net of Recovery (3,854) (4,531) (4,998) 677 -14.9% 1,145 -22.9% Expenses for Allowance for Loan and Lease Losses (4,939) (5,741) (6,210) 801 -14.0% 1,271 -20.5% Income from Recovery of Loans Written Off as Losses 1,086 1,210 1,212 (124) -10.3% (126) -10.4% Net Result from Financial Operations 7,673 8,077 8,219 (404) -5.0% (546) -6.6% Other Operating Income/(Expenses) (2,845) (3,069) (3,392) 224 -7.3% 548 -16.1% Banking Service Fees and Income from Banking Charges 5,122 5,149 4,311 (27) -0.5% 811 18.8% Result from Insurance, Pension Plan and Capitalization Operations 1,354 1,402 1,279 (48) -3.4% 76 5.9% Non-interest Expenses (8,280) (8,491) (7,956) 211 -2.5% (324) 4.1% Tax Expenses for ISS, PIS, Cofins and Other Taxes (1,041) (1,130) (1,026) 89 -7.8% (15) 1.4% Income before Tax and Profit Sharing 4,828 5,008 4,827 (180) -3.6% 1 0.0% Income Tax and Social Contribution (1,295) (1,459) (1,302) 164 -11.2% 7 -0.5% Minority Interests in Subsidiaries (21) (47) 19 26 -56.0% (39) -210.6% Recurring Net Income 3,512 3,502 3,544 10 0.3% (32) -0.9% 1Q13 - 4Q12 1Q13 - 1Q12 R$ million Management Discussion & Analysis Itaú Unibanco Holding S.A. 9
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: Executive Summary Effects of the Re
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 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
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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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(This page was left in blank intent
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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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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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