IRR310313.pdf - Banco Itaú

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ITAÚ UNIBANCO HOLDING S.A. NOTES TO THE FINANCIAL STATEMENTS FROM JANUARY 1 TO MARCH 31, 2013 AND 2012 (In thousands of Reais) NOTE 1 - OPERATIONS Itaú Unibanco Holding S.A. (ITAÚ UNIBANCO HOLDING) is a publicly-held company which, together with its subsidiaries and affiliated companies, operates in Brazil and abroad, with all types of banking activities, through its commercial, investment, real estate loan, finance and investment credit, and lease portfolios, including foreign exchange operations, and other complementary activities, with emphasis on Insurance, Private Pension Plans, Capitalization, Securities Brokerage and Administration of Credit Cards, Consortia, Investment Funds and Managed Portfolios. Itaú Unibanco Holding S.A. – Complete Financial Statements – Mach 31, 2013 96
NOTE 2 – PRESENTATION OF THE FINANCIAL STATEMENTS a) Presentation of the Financial Statements The financial statements of ITAÚ UNIBANCO HOLDING and of its subsidiaries (ITAÚ UNIBANCO HOLDING CONSOLIDATED) have been prepared in accordance with accounting principles established by the Brazilian Corporate Law, including the amendments introduced by Laws No. 11,638, of December 28, 2007, and No. 11,941, of May 27, 2009, in conformity, when applicable, with instructions issued by the Central Bank of Brazil (BACEN), the National Monetary Council (CMN), the Brazilian Securities and Exchange Commission (CVM), the Superintendence of Private Insurance (SUSEP), and the National Council of Private Insurance (CNSP), which include the use of estimates necessary to calculate accounting provisions and valuation of financial assets. In order to enable the analysis of the net income, the heading “Net income without nonrecurring effects” is presented below the Consolidated Statement of Income, and this effect is highlighted in a heading called “Exclusion of nonrecurring effects” (Note 22k). As set forth in the sole paragraph of article 7 of BACEN Circular No. 3,068, of November 8, 2001, securities classified as trading securities (Note 4c) are presented in the Balance Sheet under Current Assets regardless of their maturity dates. Lease Operations are presented, at present value, in the Balance Sheet, and the related income and expenses, which represent the financial result of these operations, are presented, grouped together, under loan, lease and other loan operations in the Statement of Income. Advances on exchange contracts are reclassified from Other Liabilities – Foreign Exchange Portfolio to loan operations. The foreign exchange result is presented on an adjusted basis, with the reclassification of expenses and income, in order to represent exclusively the impact of variations and differences of rates on the balance sheet accounts denominated in foreign currencies. b) Consolidation As set forth in paragraph 1, article 2, of BACEN Circular Letter No. 2,804, of February 11, 1998, the financial statements of ITAÚ UNIBANCO HOLDING comprise the consolidation of its foreign branches and subsidiaries. Intercompany transactions and balances and results have been eliminated on consolidation. The investment funds in which ITAÚ UNIBANCO HOLDING’s companies are the main beneficiaries or holders of principal obligations are consolidated. The investments in these fund portfolios are classified by type of transaction and were distributed by type of security, in the same categories in which these securities had been originally allocated. The effects of the Foreign exchange variation on investments abroad are classified in the heading Securities and Derivative Financial Instruments in the Statement of Income. The difference of Net Income and Stockholders’ Equity between ITAÚ UNIBANCO HOLDING and ITAÚ UNIBANCO HOLDING CONSOLIDATED (Note 16d) results from the adoption of different criteria for the amortization of goodwill originated on purchase of investments and in the record of transactions with minority stockholders where there is no change of control (Note 4q), net of the respective deferred tax assets. In ITAÚ UNIBANCO HOLDING, the goodwill recorded in subsidiaries, mainly originated from the ITAÚ UNIBANCO merger, is being amortized based on the expected future profitability and appraisal reports or upon realization of the investment, according to the rules and guidance of CMN and BACEN. Itaú Unibanco Holding S.A. – Complete Financial Statements – Mach 31, 2013 97
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financial report March 31, 2013 Ita
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management discussion analysis Ita
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Executive Summary Information and f
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Executive Summary Effects of the Re
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Executive Summary We present below
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Executive Summary Banking Services
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Executive Summary Credit Portfolio
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analysis of net income Itaú Uniban
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Analysis of Net Income Managerial F
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Analysis of Net Income Banking Serv
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Analysis of Net Income Result from
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Analysis of Net Income Non-interest
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Analysis of Net Income Points of Se
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alance sheet, balance sheet by curr
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Balance Sheet Short-term Interbank
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Balance Sheet Funding Mar 31, 13 De
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Balance Sheet by Currency We adopt
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Capital Ratios (BIS) Solvency Ratio
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Ownership Structure The management
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Annual and Extraordinary Stockholde
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analysis of segments, products and
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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
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 98 and 99: In ITAÚ UNIBANCO HOLDING CONSOLIDA
Page 100 and 101: NOTE 3 - REQUIREMENTS OF CAPITAL AN
Page 102 and 103: During this period, the effects of
Page 104 and 105: Cash Flow Hedge - the effective amo
Page 106 and 107: Mathematical provisions for benefit
Page 108 and 109: NOTE 5 - CASH AND CASH EQUIVALENTS
Page 110 and 111: NOTE 7 - SECURITIES AND DERIVATIVE
Page 112 and 113: c) Trading securities See below the
Page 114 and 115: e) Held-to-maturity securities See
Page 116 and 117: I - Derivatives by index Memorandum
Page 118 and 119: II - Derivatives by counterparty Se
Page 120 and 121: III - Derivatives by notional amoun
Page 122 and 123: V - Accounting hedge a) The effecti
Page 124 and 125: VI - Realized and unrealized gain o
Page 126 and 127: j) Sensitivity analysis (TRADING AN
Page 128 and 129: II - By maturity and risk level 03/
Page 130 and 131: ) Credit concentration Loan, lease
Page 132 and 133: e) Restricted operations on assets
Page 134 and 135: NOTE 9 - FOREIGN EXCHANGE PORTFOLIO
Page 136 and 137: c) Deposits received under securiti
Page 138 and 139: e) Borrowings and onlending BORROWI
Page 140 and 141: Description Name of security / Curr
Page 142 and 143: ) Assets Guaranteeing Technical Pro
Page 144 and 145: 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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