Sustainability - bicbanco

Sustainability 2011
and Annual Report

2 Annual and Sustainability Report 2011
Introduction GRI 2.2, 2.9, 3.1, 3.2, 3.3, 3.6, 3.7, 3.8, 3.9, 3.10, 3.11 and 3.13
Banco Industrial e Comercial S.A. (BICBANCO) presents the sixth edition of its
Annual Report, clearly and concisely showing the impact of the Bank’s activities and its
economic, social and environmental results. Unless explicitly stated, all information expressed
in this document regards the 2011 fiscal year, from January 1 to December 31.
This report includes financial and results statements as well as the social balance
sheet proposed by Instituto Brasileiro de Análises Sociais e Econômicas – Ibase (Brazilian
Institute of Social and Economic Analyses). Target audiences for the report are
clients, shareholders, employees, suppliers and other stakeholders of the Institution.
Both documents outline the strategies, policies and performance of the Bank – with
information on all units in Brazil and abroad – and of its controlled companies Bic Leasing,
Bic Cartões, Bic Informática, Bic Distribuidora de Valores and Sul Financeira, in addition
to the performance of Fundos de Investimentos em Direitos Creditórios – FIDCs
(Funds for Investment in Credit Rights).
The BICBANCO Annual Report has been developed based on international Global
Reporting Initiative (GRI) guidelines since 2008; the latest edition of the report was
issued for the 2010 fiscal year. This report meets version 3.1 with a level of application
of B+, it has received the GRI Seal of Assurance and was prepared in early 2012
using data found by department managers at the Bank, who are responsible for the
accuracy of information; this data was verified by KPMG, which has also audited the
financial statements, the Ibase and the GRI indicators.
To guarantee that readers clearly understand the information, all measuring techniques,
bases of calculations and any adjustments to surveys are duly described and highlighted
throughout the text. No major changes were made to this document when compared
to the 2010 report (which allows for a comparison of content) and data reported
in previous editions was also not revised. There were also no significant changes in the
period in relation to shareholder size or holdings. The fact that BICBANCO changed the
location of its headquarters had the most relevant effect on many of the year’s activities;
the move ended in early 2012 and is also presented in this report.
Annual production of this report is aimed at giving all stakeholders access to the main
information on BICBANCO and enabling them to gain information on the policies and
guidelines on which its activities are based. This document also meets good governance
criteria, which stipulates that information are reported equally and transparently.

Highlights 04
Profile 06
Mission, Vision and Values 07
History 08
Message from the CEO 10
Corporate Governance 12
Risk Management 24
Economic Scenario and Performance 36
Stakeholder Relations 50
Intangible Assets 64
Sustainability 80
Annual Social Balance Sheet – NBCT 15 90
GRI Application Level Exam Statement 94
GRI Index 95
Independent Auditors’ Report on Limited Assurance 110
Credits 112

4
Highlights
GRI 2.10
One of the 500 most
valuable bank brands
in the world. The Banker
and Brand Finance magazines.
For the second consecutive
year, BICB4 shares are part of
the BM&FBOVESPA Índice de
Sustentabilidade Empresarial –
ISE (Corporate Sustainability Index).
First Brazilian company
to receive Top Employers
Brasil 2012 certification.
International Certification
for best HR Practices from
the CRF Institute.
Annual and Sustainability Report 2011
New headquarters in São Paulo
opened in 2012, at Av. Brigadeiro
Faria Lima, with advanced
technology and infrastructure.
AAA+ rating in Sustainability in Brazil
from Management & Excellence.
Partnership with IFC and FIMBank
resulted in a new company:
BRASILFACTORS.
Number one in Innovation and Quality
and number five in Human Resources
and Corporate Governance among
banks in the “As Melhores da Dinheiro”
ranking by Dinheiro magazine, KMPG
and Trevisan Escola de Negócios.

Corporate Governance
Balance Sheet (BRL million) 2011 2010 11/10 (%)
Credit Operations 11,558 13,234.6 (12.7)
Securities, Bonds and Derivatives 939.7 872.7 7.7
Total Assets 17,491.4 17,086.4 2.4
Time Deposits 7,776.6 7,188.0 8.2
Total Deposits 8,804.8 8,613.8 2.2
Shareholders’ Equity 1,996.0 1,954.9 2.1
Credit Operations/Total Assets 66.1% 77.5% -11.4 p.p.
Results (BRL million)
Financial Intermediation Income 806.5 918.8 (12.2)
Service Provider Revenue 75.7 68.7 10.2
Personnel Expenses (195.9) (158.2) 23.9
Administrative Expenses (164.9) (141.7) 16.4
Operational Income 271.7 513.7 (47.1)
Net Earnings 232.4 348.7 (33.3)
Indicators (%)
ROAE 11.8% 18.7% -6.9 p.p.
ROAA 1.3% 2.4% -1.1 p.p.
Efficiency Ratio 48.6% 36.7% -11.9 p.p.
Capital Adequacy Ratio 18.1% 17.2% 0.9 p.p.
Financial Margin 7.9% 8.6% - 0.7 p.p.
Shareholders’ Payments (BRL million)
Interest on Shareholders’ Equity 104.0 104.0 -
Dividends (2011) 5.0 31.0 (83.9)
Performance per Share
Earnings per Share in Circulation (BRL) 0.9446 1.3787 (31.5)
Equity Value per Share in Circulation (BRL) 8.1132 7.7297 5.0
Share Price – BICB4 (BRL) (*) 7.55 14.15 (46.6)
Market Value (BRL million) (*) 2,462.1 3,314.2 (25.7)
(*) Last working day of the respective periods.
5

6
Profile GRI
2.1, 2.3, 2.4, 2.5, 2.6, 2.7, 2.8, DMA EC –
Economic Performance and DMA EC – Market Presence
Banco Industrial e Comercial S.A. (BICBANCO) was incorporated in the city
of Juazeiro do Norte (CE) from a company that was founded as a credit
cooperative in 1938 and is today a major participant in Brazil’s financial
landscape. According to a Brazilian Central Bank ranking of credit operation,
dated September 2011, BICBANCO is ranked in 6th place among the
nation’s private capital institutions; it is in 10th place on the list of national
and foreign private banks and it is in 15th place in the overall ranking, which
includes public and private capital banks, national and foreign.
A universal bank headquartered in the city of São Paulo (SP), the Institution
relies on a team of 1,041 employees and is part of a conglomerate that is
present in every region of Brazil, with a network of 46 branches, located
in 34 cities, in 18 states and the Federal District, in addition to a service
point in Grand Cayman, providing support for international market transactions
since 2002. The BICBANCO Conglomerate also includes the Sul
Financeira, BIC Leasing, BIC Administradora de Cartões, BIC DTVM and
BIC Informática companies.
The Bank has been recognized for its agile operations, its responsible cor-
porate management and its high-quality service. Its business is focused
on offering unique products and services, geared towards corporate credit,
that are mostly aimed at serving the demands of middle market companies,
whose annual revenue is between BRL50 million and BRL500 million.
At the end of the 2011 fiscal year, credit given to middle market segment
companies accounted for 94.1% of total volume.
The Bank currently has a portfolio of over 13.3 thousand active clients and,
of this total, 6.9 thousand use credit operations, distributed over various
industries, with no concentration of economic activity, geographic region
or risk by client. Sul Financeira serves more than 208.1 thousand clients
across Brazil in operations directed at individuals and small companies.
Explanatory note 8 in the December 2011 Financial Statement contains
detailed data on the credit portfolio. Throughout the fiscal year, the Bank
neither acquired portfolios nor discontinued any business or products.
A publically traded financial institution since 2007, BICBANCO is listed
at Level 1 in BOVESPA’S Corporate Governance. In 2012 and for the second
year in a row, the Bank’s stock was included in the BM&FBOVESPA
Índice de Sustentabilidade Empresarial – ISE (Corporate Sustainability Index),
a sign of the strength of the Institution’s sustainable foundations.
BICBANCO OPENS
NEW HEADQUARTERS
In the first quarter of 2012, BICBANCO’s central
administration moved to a new address:
Av. Brigadeiro Faria Lima, 4.440, Itaim Bibi,
CEP: 04538-132, São Paulo (SP).
Construction on the new building prioritized
sustainable practices and resources.
The new headquarters suitably
accommodates the Bank’s current
structure and allows future expansions.
New facilities were prepared in order to
provide greater convenience, comfort and
quality of life at work to employees as well as
greater security and privacy for information
on clients and business partners.
Progress resulting from the change is
discussed throughout this report.

Mission GRI
4.8
To develop financial activities which, at the same time and in an integrated manner, maximize
shareholder return, ensure BICBANCO’s consistent and sound growth while valuing
the community of which it is a part.
Vision
As a corollary to fulfilling its mission, BICBANCO’s ambition is for its staff to be recognized
by the clients and the market as the best team of professionals in financial products and
services intended for the Middle Market.
Values
The success in undertaking the mission depends on a set of factors and behavior that comprise
BICBANCO’s beliefs, among which the following stand out:
Respect for our Staff
Acceptance of internal rules
Performance Recognition
Encouraging teamwork
Fostering transparency
Emphasis on the Integrity of our actions
Social Responsibility to the Community
BICBANCO business management and corporate decisions are guided by these values
at every level as well as by the principles of sustainability disseminated by the policies
and procedures adopted and presented throughout this report, using a group of industry
indicators to measure effectiveness. For the Bank, a sustainable position requires
constantly seeking improvements and adopting effective practices, such as implementing
measures that allow its employees, clients and society to become engaged and for
dissemination of the importance of assessing environmental impacts in the decision
making process.
7

8
History
1938 – 1947
BICBANCO’s story begins in 1938, in the city of
Juazeiro do Norte, with the founding of the Cooperativa
de Crédito de Joazeiro by José Bezerra de Menezes,
along with local leaders. From early on, the recently
created Bank made it clear that it was prepared
to finance productive activity, granting its first loans to
producers in southern Ceará; six years later, it changed
its name to Banco do Juazeiro.
1948 – 1957
Grupo Bezerra de Menezes increases its cotton exports,
fostered by the progress of the new Brazilian industrial
model. With expanded business, it decides to
become a majority shareholder of Banco do Juazeiro,
which makes Mrs. Maria Amélia Bezerra de Menezes,
the family’s matriarch, the first woman in Brazil to serve
as the president of a bank.
1958 – 1967
Advances in management and changes implemented
with Brazilian banking reforms allow for a new phase
of growth in business. The Bank begins to work as a
development agent for trade and industry throughout
the Cariri region, which provides the strength for its
expansion.
1968 – 1977
Regionally fortified, Banco do Juazeiro merges
with Banco do Cariri in 1972, creating Banco
Industrial do Cariri (BIC). In 1974, the Institution
once again diversifies and expands its operations by
incorporating Banco dos Proprietários. The next step
in the cycle of growth was to transfer its headquarters
to Fortaleza, the state capital, and change the
company’s name to Banco Industrial do Ceará (BIC).

1978 – 1987
In 1981, the Bank changed its name to Banco Industrial
e Comercial S.A. (BIC) and went beyond state
borders, setting up its first branch in the city of São
Paulo (SP). With this venture, a new stage of significant
development begins, which results in BIC being
named the best performing commercial bank in the
National Financial System for two consecutive years,
according to a survey by Exame magazine.
1988 – 1997
In 1992, to strengthen the Bank’s name and reflect its
modern and dynamic profile, the BICBANCO brand
was created. From there, the Bank grew its business
by expanding its client portfolio, going on to direct its
operations in the middle market segment in line with
its initial operations. In 1995, its headquarters was
transferred to São Paulo (SP) and, that same year, the
Bank implemented its international area.
1998 – 2007
To internationalize operations, the Bank set up its
first branch abroad, in Grand Cayman, and opened its
headquarters at Av. Paulista, in São Paulo (SP). The
following year, in line with good governance principles,
it created the Gemini Holding S.A. and Primus
Holding S.A. companies.
In 2004, the Bank celebrated surpassing the
BRL100 million mark in net earnings and, in 2005,
it was named best middle market bank in Brazil, by
Fundação Getúlio Vargas (FGV). The next year, BIC-
BANCO became Brazil’s first mid-sized institution to
carry out a subordinated debt operation. In 2007, the
Bank took another big step: it went public, trading its
shares on the São Paulo Stock Exchange (BOVESPA),
listed at Level 1 in Corporate Governance.
2008 – 2010
In 2008, the Bank launches the brand “Movimento
Azul” (Blue Movement), a symbol of its commitment
to ethical and responsible management. In 2009, the
Bank acquired Sul Financeira S.A. – Crédito, Financiamento
e Investimentos to diversify its operations. In
2010, the Bank was selected to be part of the 2011
BM&FBOVESPA Índice de Sustentabilidade Empresarial
– ISE (Corporate Sustainability Index).
9

10
Annual and Sustainability Report 2011
Message from the CEO
GRI 1.1
2011 was marked by international instability, especially starting in
August, with the unfavorable situation in the euro zone. Brazil was
not unscathed by global economic happenings, yet it found itself in
a favorable situation due to greater autonomy on economic policy.
For BICBANCO, 2011 strategically represented its conservative
state, taking a position to preserve liquidity and adopt sustainable
management, which will bring positive results in the
medium and long-terms.
The Bank focused on relationships, expanded its network to every
region of the country by opening two new branches and invested
in its products and services portfolio with advanced technology
to serve its clients more efficiently and with greater agility. The
opening of new service points is part of the strategic plan of consolidation
and gradual expansion, suited to economic trends.
In line with growth in business, the Bank saw the chance to
work in other market niches and, in a joint venture with FIMBank
and IFC, the Bank created BRASILFACTORS to operate in the
factoring and forfaiting market with small companies.
Within the limits imposed by the economic situation and the
appropriate security measures to face this scenario, we prioritized
the Institution’s solidity and its attainment of resources to
the detriment of results. Therefore, with elevated liquidity, we
achieved net earnings of BRL232.4 million, allowing shareholders’
equity to reach BRL1,996.0 million, even after distributing
results of around BRL109 million.
The decision to implement the strategic plan, involving projects
matched to the conservative capacity of resources, is aimed at benefits
and rewards that will be gained in performance over the coming
years, particularly favoring growth in sustainability indicators.

Corporate Governance
Based on its position of favoring business management and best cor-
porate governance practices, in 2011, the Bank was recognized by
various national and international organizations, among which we are
extremely proud to once again be part of the BM&FBOVESPA Índice
de Sustentabilidade Empresarial – ISE (Corporate Sustainability
Index) 2012 portfolio; to reach the maximum grade of AAA+ in Sustainability
and be part of the new M&E Latin Finance Sustainability
Stars Index (Brazil); and to be ranked first in Innovation and Quality in
the ranking of the 500 Best Companies in Brazil from IstoÉ Dinheiro
magazine, continuing to figure among the world’s 500 most valuable
brands in the financial market.
It was with great satisfaction that we received international recognition
for the first time as the first Brazilian company with Top Employers
certification in Human Resources, providing evidence of our excellence
in personnel management.
In early 2012, we transferred our administrative headquarters to a
new, triple A standard building, built based on sustainable principles in
a region that is today emerging as São Paulo’s new Financial Center.
The larger, more modern and more comfortable facilities comply with
ergonomic and environmental standards and feature state of the art
technology to keep systems availability at 99.98%; this is the result
of greater synergy between the various areas of competency and is
bringing notable benefits for processes and people.
I would like to thank our employees for their efforts, our executives
for striving to maintain the strategic vision in an environment of challenges,
and our shareholders and clients for their support, which is
fundamental for us to be able to translate our actions not only into results,
but into strength and values that will enable us to move forward
over the coming years.
José Bezerra de Menezes
(Binho)
CEO
11

12
Corporate
Governance
GRI 2.3, 3.6, 4.4, 4.5, 4.6, 4.7,
4.9 and DMA EC – Economic Performance

To generate value and strengthen the sustainability
of businesses, BICBANCO has created the Corporate
Governance Committee and instituted a more technical
profile for the various specialized committees.
BICBANCO’s governance model is in line with best
practices in the international market, which antecipate
monitoring of risks and internal controls, ethical and
transparent actions, clear and objective accountability,
and equal treatment of all stakeholders. To create
value and ensure sustainable business, the Bank also
focuses on financial discipline and frequent enhancement
of its management mechanisms – the principle
followed for changing committee formats in 2011, making
its corporate governance model more dynamic.
In order to become more efficient, the Bank has reformulated
various existing specialized committees,
which now have a more technical profile, and the Bank
has created a Corporate Governance Committee, the
only one on which directors serve. This new committee
is responsible for assessing decisions submitted
by specialized committees, aiding upper management
to implement initiatives, and approving matters
connected to changes in standards, processes and
products that may affect strategic direction, including
evaluating and deciding on recommended sanctions
submitted by the Blue Committee (equivalent of the
Sustainability Committee). Furthermore, because the
Corporate Governance Committee is the sole holder
of risks materializing on other committees, it is in a
privileged position to recognize significant impacts
that could result from small individual contributions.
The main governance structure at BICBANCO is organized
into two complementary levels: the first is comprised
of the Board of Directors (advised by the Audit
Committee and by Internal Auditing), involving the
controlling group’s shareholders and one independent
member; the second is the Comitê de Diretoria Executiva
– CDE (Executive Committee) and its Operations
Committees, involving the Bank’s executive leaders.
This reformulation has provided more direct contact
between technicians and the Bank’s technicians and
upper management, favoring integration between professionals
and establishing a more direct and objective
dialogue. This change shows how much attention
BICBANCO is paying to opportunities to improve its
governance matrix, which may strengthen the foundations
of sustainable growth.
COMMITMENT TO BEST PRACTICES GRI 4.6 and 4.8
BICBANCO follows the changes in governance concepts
and is aware of international benchmark initiatives
in this segment, aimed at constantly perfecting
its practices and accelerating the sustainable growth
of its activities. The goal of this position is to favor the
opening of new markets and to create business opportunities,
ensuring continual improvement of internal
processes, gaining consistent results, strengthening its
corporate reputation, consolidating internal culture, improving
decision making methods, and strengthening
relationships with the Bank’s stakeholders.
13

14 Annual and Sustainability Report 2011
Find out more
about the Direct
and Indirect
Greenhouse
Gas Emissions
Inventory written by
the Bank in 2011 at
www.bicbanco.com.br/ri
To implement best practices in day to day activities,
the Bank has created its own control mechanisms,
such as programs for identifying and measuring any
social and environmental risks in credit operations. It
has also dedicated a chapter of its Code of Ethics to
highlighting the conduct to be adopted in the event
that a situation arises that may create a conflict of
internal interests (see the BICBANCO Code of Ethics
online at www.bicbanco.com.br).
In its relationships with clients, BICBANCO has adopted
a policy of granting credit to socially responsible
companies whose activities respect the environment.
The Bank understands that its role is to produce a virtuous
cycle of sustainable management and spread
the ethical values that lead to and foster reflection on
global risks.
The Bank carries out interpretation of new concepts that
arise as a result of risks created by the modern system
itself. It therefore monitors trends so that in the future
another form of governance should be established; not
just based on ethics, but one that also considers lifestyles
that lead to building sustainable societies, supposing
a substantial change in how forms of production
and consumption that raise inequality are conceived.
Therefore, contemporary concerns are aware that liv-
ing better tomorrow is not enough to ensure sustainability,
actions need to be taken in the present – this is
the philosophy that the Bank defends in its activities.
ISE 2012
In 2011, BICBANCO was chosen to be part of the
Índice de Sustentabilidade Empresarial – ISE (Corporate
Sustainability Index) (created by BOVESPA)
portfolio; and, in 2012, it was included for the second
year in a row to participate in the group of 38
companies recognized for their commitment to corporate
sustainability.
Bovespa added criteria to the ISE 2012 that are used
for scoring in determining which companies will be
part of the index. These criteria include climate change.
The Bank adheres to recommendations on transparency
and is one of the companies authorizing the release
of questionnaire answers online at www.bmfbovespa.
com.br. In addition to the ISE, the Bank’s preferential
shares (BICB4) are also included in the following indexes:
BM&FBOVESPA Financeiro – IFNC (BM&FBovespa
Financial Index), Governança Corporativa – IGC (Corporate
Governance Index), Governança Corporativa Trade
– IGCT (Corporate Governance Trade Index), SmallCap
– SMLL (Small Cap Index), Índice de Ações com Tag
Along Diferenciado – ITAG (Special Tag Along Index),
Índice de Dividendos – IDIV (Dividend Index) and Índice
Brasil Amplo – IBrA (Brazil Broad-Based Index).
BOARD OF DIRECTORS GRI 4.2, 4.3, 4.7 and 4.10
Comprised of four members, with a unified term of two
years (reelectable), the Bank’s Board of Directors is responsible
for establishing financial and administrative
guidelines and policies geared towards creating value
for the Bank, shareholders and other stakeholders. Business
decisions are also centralized within this body as
is oversight of effective compliance with its resolutions.
MEMBERS OF THE BOARD OF DIRECTORS
In accordance with its bylaws, there are no specific
requirements, qualifications or formal evaluations for
electing members to the Board of Directors. Today,
three board members represent the controlling group
and participate, directly or indirectly, through holdings;
there is also an independent board member. The current
Bank CEO is on the Board, but does not hold the position
of chairman, just as the other elected officers hold
executive positions. Assessment of members’ performance
is done informally by the chairman of the Board,
always in consideration of economic aspects and good
governance practices (find out more about this body and
its members online at www.bicbanco.com.br/ri).

In business management,
BICBANCO relies on 13
specialized committees
that pass their decisions
onto the Corporate
Governance Committee
FISCAL COUNCIL
BICBANCO has not yet set up a Fiscal Council. According
to the Bank’s Articles of Incorporation, once
elected, this Council must have at least three and
at most five effective members, with an equal number
of alternates, whose mission will be to oversee
administrative activities, assess financial statements
and report their conclusions to shareholders.
ORGANIZATIONAL STRUCTURE
AND COMMITTEES GRI 4.1
The organizational structure adopted by the Bank
splits its operations into areas, products and regions,
a model which enables departments to stay focused
on their area of work, so that they have detailed
knowledge of all of the procedures and processes
Corporate Governance
of the sector. This immersion encourages workers to
identify opportunities for improvement and develop
practical and effective solutions.
In business management, BICBANCO relies on 13
specialized committees that send their decisions onto
the Corporate Governance Committee, which in turn
deliberates on and assesses these decisions, as mentioned
at the start of this chapter. This format allows
a direct line to be established between the technical
and decision-making areas, favoring shared ideas and
information, making more consistent decisions possible
and promoting alignment with strategic objectives
(more information on specialized committees can be
found online at www.bicbanco.com.br/ri).
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16 Annual and Sustainability Report 2011
Comitê de Diretoria Executiva – CDE
(Executive Committee)
Operational Committee
Executive Credit Committee
Executive Treasury Committee
Information Technology Steering Committee
Internal Controls Committee
Risk Committee
Money Laundering and Illicit Acts
Prevention Committee
Money Laundering and Illicit Acts
Prevention Committee/Cayman
Information Security Committee
Ethics Committee
Blue Committee – Sustainability
Credit Process Evaluation Committee
AUDIT COMMITTEE
This Committee works as an auxiliary, consultative and
advisory committee to the Board of Directors and to
the Bank’s subsidiaries on topics related to accounting
practices used in drafting financial statements.
While it does not have decision-making power or executive
functions, it is also responsible for the quality
and efficiency of internal control and risk administration
systems as well as for indicating and assessing
independent auditing services. It is composed of three
independent members, with this body’s chairman being
qualified according to the Brazilian Central Bank,
with a term of one year, renewable for up to five years.

EXECUTIVE BOARD
ON
Total
Grupo Bezerra de Menezes
100%
Gemini
Holding
100%
Governança Corporate Governance Corporativa
17
The executive board is responsible for day to day business management and, among other duties, for implementing
the general guidelines and policies established by the Board of Directors.
The members of this board are:
Chief Executive Officer
General Vice President
Operational Vice President
SHAREHOLDER COMPOSITION
Primus
Holding
BIC
Corretora
34.71% 46.48% 17.06%
PN 22.72% 2.51% 1.32%
International Vice President
Executive controlling board
Executive infrastructure and HR board
Complete information on the board is published online at www.bicbanco.com.br/ri.
Described below is the shareholder composition of the BICBANCO Conglomerate on December 31, 2011:
30.31% 30.37% 11.29% 2.72%
25.31%
100%
Treasury
Shares (*)
7.42%
1.75%
66.03%
BIC Leasing BIC Cartões BIC Informática BIC Distribuidora Sul Financeira
-
Free Float
Shares
(*) The amount of shares in treasury regards the 4 th Stock Buyback Program, which has been fully concluded and is awaiting authorization to cancel these shares.

18 Annual and Sustainability Report 2011
SHAREHOLDER STRUCTURE – DECEMBER 31, 2010
ON % PN % Total %
Controlling Shareholders 101,799,268 63.54 3,551,682 3.83 105,350,950 41.66
– Gemini Holding 74,472,265 46.48 2,323,072 2.51 76,795,337 30.37
– BIC Corretora 27,327,003 17.06 1,228,610 1.32 28,555,613 11.29
Grupo Bezerra de Menezes and
Associated Parties
55,597,616 34.71 21,061,051 22.72 76,658,667 30.31
Shares in Treasury (*) - - 6,879,540 7.42 6,879,540 2.72
Shares in Circulation
(Free Float)
HOLDINGS GRI DMA EC – Market Presence
2,809,949 1.75 61,204,463 66.03 64,014,412 25.31
Total 160,206,833 100.00 92,696,736 100.00 252,903,569 100.00
(*) The amount of shares in treasury regards the 4 th Stock Buyback Program, which has been fully concluded and is awaiting authorization to cancel these shares.
Latest update: January 13, 2012.
To implement best corporate governance practices
and appropriately consolidate shares held by its controlling
companies in corporations, controlling shareholders
constituted two holding companies in 2003:
Gemini Holding – company that centralizes shares
representing shareholder control in BICBANCO;
Primus Holding – holds shares representing shareholder
control in BIC Corretora de Câmbio e Valores
S.A., which in turn is a BICBANCO shareholder. Created
in 1985, BIC Corretora does not exercise operational
activities; its function is merely to make participation
in the BICBANCO Conglomerate feasible.
At the close of the fiscal year on December 31, 2011,
the Gemini Holding and Primus Holding companies
(through the BIC Corretora intermediary) accounted
for 41.66% of the social capital in BICBANCO; Grupo
Bezerra de Menezes held 30.31% of capital directly,
with 25.31% being free float shares and the remaining
2.72% treasury shares.
CONTROLLED COMPANIES
GRI DMA EC – Market Presence
BIC LEASING
BIC Arrendamento Mercantil S.A. (BIC Leasing) is a
publically traded corporation that has operated in the
market for 19 years. Its activities are concentrated in
the area of commercial leasing for corporations and in
businesses with fixed and movable assets, especially
vehicles, machinery and equipment.
BIC CARTÕES
Created on September 30, 2007, BIC Administradora
de Cartões de Crédito S/C Ltda. (BIC Cartões) works
with the issuance and administration of credit cards
and pre-paid cards. The company also rents its Visa
brand Bank Identification Number (BIN) to Conglomerate
companies and other private companies.
BIC INFORMÁTICA
An integral subsidiary of BICBANCO, BIC Informática
was created in March 1994 with the purpose of providing
data processing services for the group and offering
technical support to the Bank’s activities.

BIC DISTRIBUIDORA
Founded in November 1992, BIC Distribuidora de Títulos
e Valores Mobiliários was granted Central Bank
authorization to operate in March 1993. Since then, it
has been in charge of carrying out securities and bond
operations, solely for and at the behest of BICBANCO.
SUL FINANCEIRA
Sul Financeira S.A. Crédito, Financiamento e Investimentos
is an institution that has operated in the
personal banking area for more than 50 years, offering
consigned credit, personal loans, financing for vehicles
and Crédito Direto ao Consumidor – CDC (Direct
Consumer Credit). Acquisition of Sul Financeira
in 2010 is in line with the Bank’s strategy, aimed at
expanding its operations in the retail and small business
segments.
Corporate Governance
BRASILFACTORS
Brasilfactors is a joint venture specialized in providing
factoring (provision of support services to small and
medium businesses in conjunction with the purchase of
credit rights originating from commercial purchases) and
forfaiting (foreign trade operation wherein the exporter
is able to provide financing conditions and terms for said
exporter’s international buyers), which cover acquisition
of receivables from the domestic and international markets.
Headquartered in São Paulo, the new company
was created in June 2011, and BICBANCO went on to
pay up its capital in November of that same year. Operational
activities began in February 2012. Its shareholders
are BICBANCO (40%), FIMBank PLC (40%) and International
Finance Corporation (IFC) (20%), which share joint
management proportional to their shareholder control.
Its authorized capital may reach US$25 million, with progressive
payments made as business develops. Based
on international concepts and models successfully applied
in countries where factoring plays an important
role in the economy, Brasilfactors seeks to hold a leading
position in Brazil and intends to become a reference
in management solutions and as a center of excellence
and good market practices.
19

20 Annual and Sustainability Report 2011
GROUP COMPANIES
Company Name
Percentage of
Participation
Shareholders’
Equity
Net
Earnings
12/31/2011
Equity
Accounting
Accounting Value
of Investments
BIC Arrendamento 100 172,581 24,564 24,564 172,851
BIC Distribuidora de Títulos e
Valores Mobiliários
100 14,405 901 901 14,405
BIC Informática Ltda. 100 867 135 135 867
BIC Adm. Cartão Créd. S/C Ltda. 100 5,293 847 699 5,293
Sul Financeira S.A CFI (*) 100 101,834 46,675 46,675 190,369
Brasilfactors 40 6,837 -112 -129 6,837
Total 73,010 72,845 390,622
(*) Included in the accounting value of investments is a premium in the amount of BRL88,535, verified upon acquiring Sul Financeira S.A. Crédito, Financiamentos e Investimentos.

REMUNERATION OF SHAREHOLDERS
Remuneration earmarked for shareholders complies
with the Law of Publicly Traded Corporations (Lei das
Sociedades por Ações) and the BICBANCO Articles
of Incorporation. Since 2008, the Bank has distributed
quarterly gains, although it does not have a formal
policy establishing this frequency.
In 2011, based on fiscal year results, BRL109.0 million
were earmarked for shareholder remuneration. Of this
amount, BRL104.0 million were distributed as interest
on shareholder equity – distributed in four payments
of BRL26.0 million, which corresponds to a gain of
BRL0.105680734 per share – and BRL5.0 million as
an intermediary dividend.
Corporate Governance
The Bank’s Board of Directors is responsible for the
definition and approval of payment of dividends and/or
interest on shareholders’ equity; in order to make this
decision, it assesses quarterly financial statements
and analyzes factors such as operating result, financial
situation, need for resources, outlooks and other
points that it considers to be relevant to the Bank and
shareholders. The table below shows amounts, frequency
and the history of payments of dividends and
interest on shareholders’ equity throughout 2011:
Timeline of
Remuneration Type of Gain BRL millions Date of MBD Payment Date
Gross Remuneration
per Share (BRL)
1Q11 Interest on Capital 26.0 03/15/2011 03/30/2011 0.1028
2Q11 Interest on Capital 26.0 06/10/2011 06/30/2011 0.1028
3Q11 Interest on Capital 26.0 09/09/2011 09/30/2011 0.1054
4Q11 Interest on Capital 26.0 12/09/2011 12/29/2011 0.1056
2011 Intermediary Dividends 5.0 11/04/2011 11/18/2011 0.0203
STOCK
BICBANCO has capital of BRL1,434,206, split into
252,903,569 registered shares, of which 160,206,833
are ordinary shares and 92,696,736 are preferential
shares, with no nominal value, fully paid and approved
by the Brazilian Central Bank.
On June 6, 2011, the Board of Directors met to decide
on execution over a 12-month period of the 4th Bank
issued Stock Buyback Program (the last program took
place in 2010) to keep shares in treasury and later cancel
them, without reducing capital, up to a limit of 10% of
registered preferential shares (BICB4) in free float.
The buyback up to the established limit was carried
out in the period of July 6, 2011 to August 9, 2011, and
involved BRL58.6 million. With the operation, 23.5%
of total shares were kept in circulation (free float). On
December 31, 2011, the market value of BICBANCO
stock was BRL7.70 per share, 43.4% higher than the
BRL5.37 quoted at the close of 2010.
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22 Annual and Sustainability Report 2011
REMUNERATION OF THE ADMINISTRATION GRI 4.5
The annual Shareholders’ Meeting establishes administrator
profit sharing for the fiscal year and aggregate
maximum remuneration for the members
of the Board of Directors, executive board and Audit
Committee, pursuant to the Bank’s Articles of Incorporation
and the Law of Publicly Traded Corporations.
For the 2011 fiscal year, total remuneration reached
BRL38.97 million, which is 0.9% less than was distributed
the previous year.
Using this definition, it is up to the Board of Directors
to make resolutions on the individual amounts
that will be given to each member, based on financial
criteria that do not include social and environmental
criteria. According to the Articles of Incorporation,
the main factor to be considered when determining
remuneration for administrators is the Bank’s performance
and growth, which should account for returns
established by controlling shareholders in the short,
medium and long-terms. Responsibilities, competencies,
time dedicated to performing functions and
recognition of the contribution of each executive to
obtaining results (net earnings) and the Institution’s
performance are also evaluated.
Responsibilities, competencies,
time dedicated to the exercise of
functions and recognition of the
contribution of each executive to
obtaining results are assessed.
Members of the Board of Directors and the Audit
Committee have a fixed monthly remuneration based
solely on fees. The elected executive board is given
fixed monthly remuneration (fees) and a variable remuneration
(profit sharing bonus). The appointed
board is given fixed remuneration (fees), restated annually
based on banking category indices, and a profit
sharing bonus. Variable remuneration and remuneration
of the elected board is calculated over net earnings,
based on achievement of semester targets and
limited to the maximum percentage of 10% of net
earnings, provided that shareholders are guaranteed
a minimum payment of dividends of 25%. There may
be a bonus payment pending assessments of the organizational
results reached.
According to the Law of Publicly Traded Corporations,
members of the Board of Directors and executive
board may also receive a share of the Bank’s earnings,
in those fiscal years when there is a minimum
required dividend distributed to shareholders. The
amount of this share is calculated after deducting accumulated
losses and the provision for payment of
income tax and Contribuição Social sobre o Lucro
Líquido – CSLL (Social Contributions on Net Earnings),
provided that it does not surpass either the annual
remuneration for administrators or 10% of net
earnings, whichever is less.
More details on administration remuneration are published
in 2011 financial statements under explanatory
note 16 (“Transactions with related parties”).

SHAREHOLDER MEETINGS GRI 4.4
In 2011, one Ordinary Shareholders’ Meeting (AGO)
and one Extraordinary Shareholders’ Meeting (AGE)
were held, in which all holders of BICBANCO ordinary
and/or preferential shares may participate. In 2011,
the Meetings were held at the Bank’s headquarters
at that time, located on Av. Paulista.
Participation in these meetings allows investors (including
shareholding employees) to make governance
recommendations. Meetings with the Associação dos
Analistas e Profissionais de Investimento do Mercado
de Capitais – APIMEC (Association of Capital Market Investment
Analysts and Professionals) are also used for
this purpose. There are various other channels for making
recommendations (a dedicated e-mail (IR), Customer
Service, Ombudsman, toll-free hotline, and others),
details of which are under the “Communication” item.
Documents to be discussed and deliberated upon at
Meetings may be consulted beforehand by shareholders
through the BM&FBOVESPA website (www.bmfbovespa.com.br)
or at the Bank’s corporate headquarters
as of the date of publication of the first call for
meeting. Other companies in the Conglomerate also
individually hold Shareholders’ Meetings.
Corporate Governance
23

24 Relatório Anual 2011
Risk
Management
GRI 4.8

Governança Corporativa
Centralization of management of market, credit and
operational risks provide for a broad view of these
risks, greater control of processes and faster and
more effective decisions.
BICBANCO has Risk Management Policies and
mechanisms for identifying, measuring (through
mathematical and statistical modeling based on best
international practices), monitoring, minimizing and
controlling the risks to which its operations are exposed.
As the Bank is a financial institution, portfolio
quality is susceptible to the whims of the market; because
of this, risks are constantly monitored in order
to ensure sustainable business management.
To gain efficiency in this process, the strategy is to centralize
management of market, credit and operational
risks, a model that provides for a broad view of risks.
With this vision, it is possible to enhance identification
mechanisms and make decisions more quickly and
with greater chances of reaching the stipulated targets.
The committees and bodies that manage the controls
and risks represent a strategic axis of support for
BICBANCO’s balanced and sustained development.
This model of risk management is comprised of three
cornerstones, which incorporate social and environmental
aspects and aspects of governance in the
short, medium and long-terms: creation of a strategic
plan, daily execution of the measures established,
and constant monitoring of the results of each action
by the competent authorities.
CREDIT RISK GRI FS15
Using the know-how acquired over more than 70
years of operations, the Bank has a Credit Policy that
considers the entire analysis process, wherein both
external circumstances (such as national and international
economic scenarios) and internal factors are
evaluated: negotiation history, management, operational
sector and, especially, the rating developed by
the Bank for its clients.
The Executive Credit Committee, with the support of
the commercial area, is responsible for making decisions;
this centralization increases identification of
business opportunities and guarantees an appropriate
level of timeliness and flexibility. The credit assignment
area relies on the support of integrated management
systems for its decisions, which automatically
supply information according to the flow defined
by the credit and formalization policy.
In the independent area of risk management,
BICBANCO also relies on portfolio assessment tools,
which make it possible to measure the profitability
of operations based on allocated economic capital
and on the amount of any loss in the credit portfolio.
Stress tests are also carried out aimed at assessing
any losses in scenarios considered to be risky within
a confidence interval of up to 99.99%.
25

26 Annual and Sustainability Report 2011
Because of the turbulent international scenario in
2011, credit operations lost strength in the domestic
market. Based on this, BICBANCO sought to raise its
portfolio diversification levels and supported a policy,
which has already been used in previous years, of
granting credit pending a guarantee on receivables
and financial investments.
The Credit and Credit Risk Policies are applied to all
business that involves risks and their mission is to ensure
the integrity of assets and appropriate levels of
risk, to enhance administration of credit risk, to assure
uniformity in decisions, and to raise the Bank’s
quality standards and results. These policies establish
guidelines on which control strategies are based at
every level and they assemble, among other things:
1. Analysis of credit distribution by economic seg-
ment, respecting the limits of concentration in
various activities;
2. Levels established for individual or group borrower
risks;
3. Credit assessment by scope, according to the determined
flow of approval, which includes formalization
and liberation of operations;
The Bank raised its portfolio
diversification levels and
sustained a policy of granting
credit pending a guarantee on
receivables and financial investments.
4. Risk x return criteria in approving credit for setting
operation fees;
5. Value at Risk (VaR) and VaR stress limits in credit
portfolios;
6. Adaptation of term gaps and matching of inflation
indicators and rates in assigning operations;
7. VaR and VaR stress limits for treasury operations
as well as for other asset and liability operations.
It is bank practice to subject all new products, actions
or services involving any kind of risk to various committees
for assessment prior to their implementation
in order to evaluate controls needed for their mitigation
or acceptance. The goal is to gain a multi-disciplinary
analysis and guarantee management according
to the complexity of products, exposure to risk
and the risk/return relationship.
Because of this position, the Business Policy prevents
the negotiation of untested products or products that
present an elevated liquidity risk. Therefore, new
products and services are not subject to significant
exposure. Traditionally, credit operations are carried
out through a mutual contract for greater security and
without options that modify the essential features of
the product.
CREDIT RISK
MANAGEMENT STRUCTURE
Included in the credit risk management structure are:
the corporate governance board, the credit board, the
office of the superintendent of asset recovery, and
the executive officer responsible for managing the
Bank’s credit risk before Brazilian Central Bank.

CREDIT RISK MANAGEMENT STRUCTURE
Chief Executive
Responsible for
managing BICBANCO
credit risk before
Brazilian Central Bank
ECONOMIC CAPITAL
Risk Management
The Bank uses the economic capital concept in its internal risk management processes. The table below shows
the requirement for total capital for the last 12 months according to risk factors:
BICBANCO UNIVERSAL AND CONSOLIDATED
Corporate
Governance Board Credit Board
Management of credit
portfolio risk
Diversification of
credit risk
Measurement of risk and
the return of the portfolio
Definition of portfolio
management methodologies
Performance of calculations
for allocation of capital
Approval of client and
operation exposure
2011
Description Highlight Value Risk
Credit Risk Parcel (PEPR) 1,595,281
Interest Rate Risk Parcel (PJUR) 56,352
Stock Risk Parcel (PACs) 6,168
Operational Risk Parcel (POPR) 100,061
Required Reference Equity (PRE) 1,757,862
Reference Equity – Level I 2,007,871
Reference Equity – Level II 877,588
Reference Equity – Level I + II 2,885,459
Risk Factor – 11% over (PR) 317,401
Capital Adequacy Ratio – (Risk Factor/PRE) 18.06%
Office of the Superintendent
of Asset Recovery
Collection and recovery
of credits
Establishment of operation fees Debt renegotiation
Operationalization of
exposure by portfolio
Definition of risk
assessment methodologies
for operations and clients
Maintenance of
client registrations
Minimum capital, based on risk factors, is calculated as follows: PRE = PEPR + PCAM + PJUR + PCOM + PACS + POPR.
Filing of legal processes
For BICBANCO, the economic capital requirement for credit risk is the initiative with greater weight. That is why the
distribution of this capital is detailed in the “Economic scenario and performance of credit operations” chapter.
27

28 Annual and Sustainability Report 2011
REGULATORY CAPITAL
According to law, regulatory capital has two levels.
Level 1 is comprised of shareholder capital and accumulated
earnings, which includes the result for the period,
exchange rate variation and minority shares. Excluded
from this level are hybrid capital instruments and certain
regulatory adjustments, as well as deferred dividends
and liquid positions of its own shares. Level 2 accounts
for long term subordinate debt securities.
BICBANCO financial conglomerate member institutions
use the criteria of the Plano Contábil das Instituições
Financeiras – COSIF (National Financial System
Accounting Plan) accounting plan for consolidated
verification of their Reference Equity (PR) – the sum
of Levels 1 and 2 of regulatory capital. The capital
agreement (Basel II) is responsible for the concept
and demonstration of the importance for Institutions
to use the best practices in managing organizational
risks. It also recommends adoption of a set of measures
that combine processes, structures, and meth-
Personalized methods for
analyzing and classifying
the profile of clients allows
for determination of the
appropriate exposure limit.
odologies needed for effective management of these
risks. The agreement is based on a structure known
as “the three pillars”:
First pillar (pillar I) – suggests improvements and enhancements
in rules aimed at measuring risks. Enables
internal verification models to be used and introduces
the capital requirement for coverage of operational risk.
Second pillar (pillar II) – establishes principles of bank
supervision and criteria for dealing with risk, in addition
to definitions and management procedures on
the part of the administration.
Third pillar (pillar III) – recommends that banks disclose
a minimum group of information to increase
the transparency of financial institutions with the aim
of allowing the market to have instruments to more
consistently assess risks run by the institutions while
exercising their activities.

OPERATIONAL RISK
The Operational Risk Policies adhere to standards
defined in Basel II and to National Monetary Council
(CMN) Resolution No. 3,380; they are reassessed
on an annual basis by the Board of Directors. Its
guidelines seek to guarantee the effectiveness of
the management model and guide actions to identify,
evaluate, measure, mitigate, control and monitor
these risks, which are inherent to products, services,
processes and systems related to BICBANCO and its
subsidiaries and controlled companies.
Exposure to operational risk is calculated on a monthly
basis and, at least once every six months, the Bank
revises this exposure and the control methodology,
which allows for any adjustments to adapt the operational
strategy to the moment and the appetite for
risk. Operational risk governance is shared among
the Board of Directors, the executive board and the
Operational and Internal Control Committees, with
supervision from the Audit Committee, and it is their
responsibility to determine the appropriate level of
tolerance for risk for the period. To assertively manage
operational risks, a structure was created that is
capable of serving the need for an effective system
of internal controls, a condition that is fundamental to
minimizing the risks of human errors and irregularities
in processes, products and systems.
Control of operational risks follows the economic assessment
management model by line of business,
a proposal that quantifies these risks using statistical
models. This format allows expected losses to be
calculated and allocates capital for unexpected losses
(VaR within a confidence interval of up to 99.9%). Earmarking
of capital for operational risk is in line with current
law and for reference purposes it uses the Simplified
Alternative Standardized Approach, established in
Brazilian Central Bank Circular No. 3,383, dated April
30, 2008 (see more on the operational risk management
structure online at www.bicbanco.com.br/ri).
Risk Management
PLANO DE CONTINUIDADE DE NEGÓCIOS – PCN
(BUSINESS CONTINUITY PLAN) GRI 4.11
Created with the purpose of minimizing losses and
guaranteeing the Bank’s operational capacity in the
event that a disaster occurs or there is some other
drastic interruption of business, the PCN is a set of
preventive and recovery measures. It was incorporated
by the operational risk management area because
it is directly connected to the execution of business
and is aimed at being more than a simple safety plan
for institutional structures.
The PCN establishes measures for assuring the
Bank’s continued capability to operate. The plan details
effective actions to be implemented in each process
or in each critical activity with significant potential
for impact based on adverse external factors that
may cause drastic interruptions in Bank processes
and activities (such as natural disasters, epidemics or
acts of terrorism outside of internal controls) and is
distributed over three modules:
Plano de Administração de Crise – PAC
(Crisis Management Plan)
Lists measures that shall be adopted to ensure administrative
efficiency in light of the unexpected adverse
situations. It also determines team behavior before,
during and after the occurrence of a possible event as
well as which procedures need to be observed during
the period of returning to normalcy.
The Bank constantly revises its
exposure to operational risks
and control methodologies
for adapting the operational
strategy to the economic time.
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30 Annual and Sustainability Report 2011
Plano de Continuidade Operacional – PCO
(Operational Continuity Plan)
Determines all procedures that should be followed for
asset contingencies that support each stage of the
business process. Its goal is to restrict downtime and
therefore lessen potential direct or indirect impacts
on business.
Plano de Recuperação de Disastres – PRD
(Disaster Recovery Plan)
Provides guidance on how to reestablish the environment
and original conditions of operation as fast as
possible and highlights initiatives related to the alternative
workplace in order to guarantee the continuity
of operations. The PRD lists all initiatives that the
professionals at the Bank shall adopt to recover and
restore the functionality, from all support assets to
the business processes that were affected. Furthermore,
it details measures for activating contracted
resources as a guarantee or manual processes in the
case of information system failure.
Asset and liability term
structures are maintained
to guarantee prudent
administration of cash flow
liquidity risk.
MARKET RISK GRI DMA SO – Compliance
The Bank has policies that cover strategic guidelines
for managing this risk and decision making procedures.
In sync with the Bank’s policies and best market
practices, the standards combine quantitative
factors – such as reference parameters and measurements
for interest rate risk – and qualitative aspects,
including a hedge policy, management scope and
segregation of functions.
This model covers all portfolio assets and liabilities.
Because they comply with regulatory standards, market
risk management policies have become vital tools
to enhancing the use of capital, reaching the best risk/
return relationship and identifying business opportunities.
As a practice, BICBANCO only operates in legally
authorized markets and uses instruments that ensure
liquidity. This strategy prevents price distortions that
may compromise Bank results.
The Bank has an Executive Treasury Committee,
which accounts for strategic decisions and the Contingency
Policies, in addition to regularly assessing liquidity
limits and, because of their importance, stress
models. This body is responsible for setting minimum
limits for cash and concentration of liabilities and for
guaranteeing resources to meet demand in various
scenarios (historical or projected). Asset and liability
term structures are also maintained to guarantee prudent
administration of cash flow liquidity risk using
the following tools:
Term mismatch maps
Short, medium and long-term liquidity projections
Stress test
Liquidity risk limits
Liquidity contingency plan

The Treasury Committee meets with the risk management
area on a regular basis to evaluate sensitivity analyses
for all operations using financial instruments and
to define a range of scenarios in a crisis environment.
To manage exposure and pursuant to the limits set by
the Committee, the Bank verifies the value of Mark-to-
Market (MtM) positions on a daily basis and calculates
the Value at Risk (VaR) and VaR stress, in addition to
monitoring the makeup of its assets and liabilities, detailed
by index. On December 31, 2011, the main risk
factors for Bank operated derivatives included the dollar
coupon, the exchange rate and the interest rate.
Risk Management
In line with its Risk Management Policy, the operations
that the Bank normally carries out with derivatives
are aimed at meeting client demands and minimizing
risks of financial operations. Its portfolios are
split into two categories according to the goal of the
operation: 1) structural operations for active Bank
portfolio management (Banking Book), including any
hedges; and 2) operations intended for negotiation
aimed at resale to gain benefits from price oscillations
and execution of arbitration (Trading Book).
31

32 Annual and Sustainability Report 2011
The Trading Book is a tool used to take proprietary
and risk management positions for derivatives negotiated
with clients; its purpose is to manage market
risk which particularly results in interest rate,
exchange rate and asset price fluctuations. Abroad,
business with derivatives have a hedging function
for international funding, while in Brazil the majority
of these contracts negotiated by the Bank for its clients
regard swap and futures market operations, all
registered with BM&FBOVESPA or CETIP. In turn,
BM&FBOVESPA dollar and Depósito Interfinanceiro
– DI (Interbank Deposit) futures contracts serve as
an instrument for locking in rates of finance on operations
for clients, for mismatched terms or currencies,
using resources dedicated to this purpose.
The risk management model was
created to prevent variation in
currency prices from having a
negative impact on results.
In 2011, the average levels of global risk stayed on
par with the stabilization of volatility for various risk
factors, without significant changes. When compared
to shareholders’ equity, BICBANCO risk limits and
exposure remained at low levels. The Bank manages
its exposures in a consolidated manner, analyzing the
impacts of various scenarios and running stress tests.
The management staff presented the detailed composition
of assets and liabilities held in Brazil by index
on December 31, 2011:

Risk Management
Index Asset (Amount) Liability (Amount)
Fixed-rate 1,968,236,605.38 919,392,264.11
Financial Treasury Bills (LFT)/Central Bank Notes (NBC) 175,327,134.61 427,132,299.14
Interbank Deposit Certificate (CDI) 8,925,543,286.35 9,390,211,166.60
Dollar – BCC VEN 3,798,253,904.81 4,527,643,638.63
Monthly TR 11,673,717.88 11,826,200.01
General Market Price Index (IGP-M) 544,858.56 29,559,603.33
Extended Consumer Price Index (IPCA) 491,971,192.02 1,109,594,785.89
Long-Term Interest Rate (TJLP-09) 2,982,816.21
UR1516-BTN 10,849,000.00
Total 15,385,382,515.82 16,451,359,957.71
Mismatch (1,029,977,441.89)
In the exchange rate area, the risk management
model was created to prevent variation in currency
prices from having a negative impact on results. This
neutralization of exchange rate risk is gained through
remunerated investments in BRL, through derivative
financial instruments. The Risk Management Policy
was strategically created so as not to generate significant
exposure in foreign currency to the point of
requiring capital for its coverage, a position that is coherent
with its main activity (credit assignment). The
largest portion of the Bank positions on assets and
liabilities is naturally hedged, since investments and
funding are indexed using the Certificado de Depósito
Interbancário – CDI (Interbank Deposit Certificate),
just as international funding is hedged using the appropriate
derivatives.
INTEREST RATE RISK
BICBANCO and its controlled companies raise funds
in their operational activities, mostly through client
investments. The majority of these resources are
used to supplement the need for cash and they are
remunerated using the CDI. Interest rate risk lies in
the chance of variation in this index. To mitigate this
risk, financing and loan operations are done for clients,
which are also indexed using the CDI. Because
of this, only the risk of these operations is exposed to
CDI volatility, even though results may be affected if
there are substantial fluctuations.
EXCHANGE RATE RISK
(EXCHANGE RATE COUPON AND SPOT DOLLAR)
The Bank uses derivatives such as swaps and USD
future contracts to negate or minimize any exchange
rate losses caused by substantial devaluation of the
BRL compared to foreign currencies. Exchange rate
hedging operations are carried out in terms of value,
terms and currencies, which replaces the exchange
rate exposure of the loans with the CDI exposure
rate. As a precaution, the Bank carries out business
so that all maturing operations and hedges can be liquidated
simultaneously.
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34 Annual and Sustainability Report 2011
STOCK MARKET RISKS (BM&FBOVESPA)
The Bank does not carry out significant operations in
the stock market. On December 31, 2011, this risk
accounted for 0.4% of the required reference equity.
Exposure to Stock Market risks is in the treasury’s trading
portfolio position. The portfolio may contain deals
with stock and futures that are subject to volatility risks,
which may cause an impact on results.
INFLATION RISK
Inflation risk is a result of positions for securities or
loans indexed to price indices, with imperfect or nonexistent
hedging. The risk management model used
by the Bank and the exposure policy prevent the risk
of major impacts, even in adverse situations, as was
described in the explanations and justifications of this
chapter. In its business, BICBANCO operates with
minimum gaps between assets and liabilities, in addition
to hedging all of its operations pegged to indexes
such as the CDI, exchange rates and inflation. Based
on this position, no volatility is expected to determine
considerable changes to results, since BICBANCO’s
gains as a financial institution are concentrated on operations
spreads.
The Social and
Environmental Risks Policy
establishes actions and
procedures that should be
complied with at every stage
of relations with the client.
SOCIAL AND ENVIRONMENTAL RISK
GRI 1.2, FS1, FS2, FS4, DMA HR – Indigenous Rights, DMA HR – Investment
and Procurement Practices, DMA HR – Freedom of Association and Collective
Bargaining, DMA HR – Child Labor, DMA HR – Forced and Compulsory Labor,
DMA EC – Indirect Economic Impacts and HR9
BICBANCO has a specific policy for these risks, which integrates
the social and environmental issue into business
and is aimed at evolution in the relationship between
financial/commercial activities and the environment/society.
In line with its stakeholder relations strategy, standards
also include aspects of corporate governance.
The Social and Environmental Risks Policy establishes
actions and procedures that should be observed at
every stage of client relations, from the client acceptance
process to approval of credit, investments and
maintenance of the relationship. The goal is to manage
indirect impacts and prevent social and environmental
factors related to clients from influencing the
Bank’s performance and the Bank’s corporate reputation
or from entering into conflict with the principles
adopted and defended by the Bank.
To intensify the effectiveness of guidelines and risk control,
specific internal training was given in 2011, spreading
social and environmental values in the Bank’s culture
and among the stakeholders with which it interacts.

Based on management of social and environmental
risks and impacts, the strategy for managing this risk
considers the following aspects:
Protection of biodiversity and adoption of mechanisms
to prevent and control pollution;
Protection of health and cultural and ethnic diversity
and adoption of occupational safety and health
systems;
Assessment of social and environmental impacts,
including indigenous communities and people, protection
of natural habitats, requiring some sort of
compensation for populations affected by a project;
Efficiency in production, distribution and consumption
of water and energy resources and the use of
renewable energies;
Respect for human rights and prevention of child or
forced and compulsory labor.
(See more in the “Sustainability” chapter.)
Risk Management
35

36 Annual and Sustainability Report 2011
Economic
Scenario and
Performance
GRI DMA EC – Economic Performance

Economic Scenario and Performance
The Bank prioritizes the liquidity of its assets, which have
stayed at vastly higher levels than necessary to cope with the
flow of maturities and their liquidity.
The Brazilian economy ended the year performing below
expectations. Economic activity has shown signs
of a slowdown since the first semester, as a result of
the fiscal and monetary restrictions imposed in late
2010 up to mid-2011 aimed at keeping inflation from
surpassing the official target. In the second semester,
Brazil was surprised by the size of the international
economic crisis.
The higher volatility in foreign markets accentuated a
downward trend in industrial production, even with the
relaxing of monetary policy in combination with government
actions to foster production, such as reduction of
the Imposto Sobre Produtos Industrializados – IPI (Tax
on Manufactured Products) in the so-called white line
appliances segment, reducing the SELIC rate and cutting
capital requirement rates and the Imposto Sobre
Operações Financeiros – IOF (Tax on Financial Transactions)
for certain credit operations.
Faced with this scenario, the domestic economy ended
the year at a less intense pace than in 2011. The GDP was
at 2.7%, below the forecast of 3% and far from the 7.5%
seen in 2010; inflation reached the top of the target, at
6.5% and the SELIC rate dropped to an annual 11%.
Despite diminished economic activity, consumption
maintained positive indicators, sustained by growth in
jobs and income.
ECONOMIC PERFORMANCE
After an economic slowdown in 2011, Brazil ended the
year with unfavorable ingredients: lower net job creation,
less industrial production, tighter trade balances
and diminished rates of confidence – factors that will
continue to cause a negative impact on the quality of
corporate credit, which has already taken a hit with
the progressive waves of instability in the international
markets.
Aware of the outlook that the global crisis continues
to feed an environment of vulnerability, BICBANCO is
dedicated to making adjustments to cope with this situation.
In the first semester, it focused its attention
on providing credit that had been made weaker since
the worldwide turbulence in 2008. Based on the fragility
seen in developed economies, the second semester
was focused on preventive measures.
As a result of the uncertainties regarding the direction
of the global financial market and lacking the stimulus
for domestic growth seen in 2010, the Bank downgraded
various ratings, both to adapt to the crisis scenario
abroad and to shorten the distance between client
ratings and their operations, which had up to that
point been granted to Fundos de Investimentos em
Direitos Creditórios – FIDCs (Funds for Investment in
Credit Rights), which contained any chance of future
deterioration, were bought back to return them to the
Institution’s portfolio for provisioning, prior to being required
to do so by standards.
37

38 Annual and Sustainability Report 2011
Provisioning expenses of around BRL492 million in
2011 were considerably larger than in “normal” times
and were the main reason the result was lower. The
costs of the “defensive liquidity barrier,” which were
three to four times higher than the traditional level,
also contributed to the net result being lower than expected
– earnings of BRL232.4 for the year, 33.3%
lower, with an ROAE at 11.8%, 18.7% less than the
previous year. The preventive measures necessary for
dealing with the results of the global crises also included
temporary reduction of the credit portfolio as a
consequence.
Despite the climate of uncertainty that continues to
hover over the international scenario, BICBANCO believes
that the effects are mapped and will not prevent
a selective and cautious return of the volume of
operations, in pace with the market’s return.
TOTAL ASSETS
In 2011, total assets accounted for growth of 2.4%
compared to the previous fiscal year, totaling
BRL17,491.4 million at the close of 2010, when assets
totaled BRL17,086.4 million. The Bank prioritizes
the liquidity of its assets, which have stayed at vastly
higher levels than necessary to cope with the flow of
maturities and their liquidity.
BICBANCO believes in a selective and
cautious return of the volume of
operations, in pace with the market.
TOTAL ASSETS
(R$ millions)
12,007 11,400
2008 2009 2010
17,086 17,491
2011
CREDIT OPERATIONS GRI FS6 and DMA PS – Product Portfolio
Credit operations reached the BRL11,558.8 million
mark on December 31, 2011, down 12.7% in relation
to the end of the previous year, with an average ticket
of BRL1.88 million. New clients admitted in 2012 had
an average ticket of BRL1.23 million.
Volume and Average Ticket for New Clients December 2011
Volume of New Clients 2,176,519,876
Total Volume 13,116,708,464
Average Ticket for New Clients 1,226,899
Total Average Ticket 1,883,772

The client base stayed at the same level as the previous
year: 13.3 thousand active clients, 6.9 thousand
of which are credit borrowers. The number of clients
has remained steady; nevertheless, this drop was
due to a reduction in individual client credit limits.
BICBANCO’s credit lending policy is to pulverize risks
and prioritize the security of operations through guarantees.
With a diversified and pulverized business,
the company aims to diluting credit in geographical
regions, economic segments and products in addition
to avoiding any kind of concentration. At the end
of the fiscal year, guarantees on receivables (48.8%)
and financial investments (10.5%) – modalities considered
to be satisfactory and highly liquid – covered
the equivalent of 59.3% of corporate credits in BRL.
Economic Cenário Econômico Scenario and e Desempenho Performance
94.1%
of operations executed by
the Bank in 2011 resulted
from corporate credit.
In 2011, 5.9% of the total operation resulted from personal
consigned credit and individual lending deals. By
economic segment, corporate lending was distributed
as follows: 41.3% for industry; 33.9% for the services
sector; 12.4% for commerce; 6.1% for individuals;
3.3% for agriculture; 2.0% for the public sector;
and 1.0% earmarked for financial intermediaries. To
ensure appropriate levels of diversity, credit is distributed
among various activities within each segment, as
shown in the table (page 40) and in explanatory note
8 (“Credit operations for 2011 financial statements”).
39

40 Annual and Sustainability Report 2011
By Economic Segment By Type of Activity %
Industry Civil Construction – Contractors 8.8
Industry Sugar and Ethanol Plant 6.3
Services Medical and Dental Services 6.2
Individuals Individuals 6.1
Services Passenger and Cargo Transport 4.9
Services Technical and Professional Services 4.9
Industry Developers 3.8
Agribusiness Agribusiness 3.3
Services Companies – Holdings in General 3.0
Commerce Supermarkets and Wholesalers 2.9
Industry Metal and Mechanical Industry 2.5
Industry Meat Processing and Industry 2.5
Commerce
Vehicle Dealers
and Commerce
Industry Flour, Mix, Cake and Cookie Production 2.1
Services Public Utilities 2.1
Public Sector Government 2.0
Services Rental Services in General 2.0
Services Energy Distribution 1.8
Industry Production of Pipes and Iron Artifacts 1.6
Industry Chemical and Petrochemical Industry 1.6
Industry Pulp and Paper Production 1.4
Industry
Industry
Production of Compost,
Fertilizers and Insecticides
Production of Vehicles,
Chassis and Others
Industry Building Materials Industry 1.1
Services Primary, Secondary and Higher Education 1.1
Industry Drinks in general 1.2
Commerce Other chemical products 1.0
Commerce Medication 0.7
Commerce Oil derivatives 0.6
Industry Tobacco 0.5
Other Economic Segments Other Economic Segments 19.3
Total 100.0
Products that can cause damage to physical or psychological integrity 0.79
Fossil fuels whose burning contributes to climate changes 2.49
2.3
1.2
1.2
Diversification is also reflected in maintenance of appropriate
levels of risk, both for individuals and for
larger borrower groups. At the end of 2011, the largest
debtor accounted for just 1% of the total portfolio,
and the group of the hundred largest debtors
answered for 31.2%.
The Bank also actively participates in foreign trade. Financing
for exports and imports currently represents
around 20% of total credit operations.
The business portfolio has traditionally had a short
term profile: 72.2% of credit is due within 12
months. Of this total, 37.6% (or BRL4,342.6 million)
of credit operations were due within 90 days at the
close of 2011. The duration of the credit portfolio was
274 days. The bad debt loss provision was 29.2%
higher than in 2011, reaching BRL565 million. These
provisions support a coverage rate of 184.5% over
the total payments 15 days past due, which totaled
BRL306.2 million on December 31, 2011 (2.6% of
the total credit portfolio).
As in previous years, the Bank did not discontinue
any business or products. Throughout 2011, credit
operations were granted without recourse of the
bank, based on the accounting amount of credit operations,
which totaled BRL134.1 million. Based on
the accounting amount of credit operations, BRL17.8
million was granted to institutions that were not National
Financial System members.

CREDIT OPERATION
PIB x BICBANCO (%)
Cayman – 4%
1
13
16
CREDIT PORTFOLIO DISTRIBUTION BY OPERATIONAL MODALITY (in %)
WORKING CAPITAL
vvv
BICBANCO – Credit operations (%)
Economic Scenario and Performance
Source: IBGE 2008
Amounts indicated on the map correspond to portfolio makeup by region.
Working capital is the main product offered by the Bank and it is mostly
aimed at serving companies’ cash needs. This kind of lending generally
has term of under one year, ending the fiscal year with a balance of
BRL7,254.6 million (13.2% lower than at the end of 2010), a volume that
accounts for 62.8%. of the total credit portfolio.
22
44
62.8% Working capital
16.3% Trade finance
7.1% Guaranteed accounts
5.9% Personal/consigned credit
4.0% Commercial leasing
0.9% Agricultural financing
0.6% Corporate checking
2.4% Other credits
OVERDRAFT ACCOUNTS
Overdraft accounts are only available to corporate users.
They consist of a credit line connected to a bank
account, with immediate availability, aimed at serving
any working capital need. Accounting for 7.1% of the
total credit portfolio, this modality involved resources
of around BRL815.5 million at the close of 2011, an
amount 25.7% lower than in 2010.
TRADE FINANCE
Trade finance operations include Adiantamentos sobre
Contratos de Câmbio – ACC (Advances on Exchange
Contracts), bills receivable in foreign currency
and financing for imports and exports. This financing
is strategically important to the Bank because it
broadens its range of products, diversifies the credit
portfolio and builds client loyalty for clients operating
in the international market. At the end of the 2011
fiscal year, business in the trade finance segment
accounted for 16.3% of the total credit portfolio, accounting
for BRL1,886.9 million – 16.5% less than the
2010 portfolio.
RETAIL
Consigned credit, vehicle financing and personal
credit are all retail segment products. Together they
represent 5.9% of the Bank’s total credit portfolio, totaling
BRL686.3 million, including credit granted for
the FIDC, which accounted for growth of 51.5% in relation
to the previous year’s balance. Retail credit has
been concentrated at Sul Financeira (full subsidiary of
the Bank holding retail operations) on Bank financial
statements since June 2010.
COMMERCIAL LEASING
Up by 6.1% compared to the previous fiscal year result,
leasing operations totaled BRL463.2 million on
December 31, 2011. Business in this modality was responsible
for 4.0% of the credit portfolio.
AGRICULTURAL FINANCING
Agricultural financing was at BRL102.6 million, equal
to 0.9% of the portfolio. A substantial part of these
lines are directed lending.
41

42 Annual and Sustainability Report 2011
CORPORATE CHECKING
This product is a rotating credit line for corporate client
transactional accounts. With a fixed interest rate,
this pre-approved funding limit provides agility and
flexibility for lower volume financial operations. Corporate
checking reached BRL74.7 million, growing 23.6%
compared to the previous year. At the end of 4Q11, this
product accounted for 0.6% of the portfolio.
OTHER CREDIT
This is mostly made up of Resolution No. 2,770
modalities of compror and vendor. This credit totaled
BRL 275.0 million, down by 31.1% compared to 2010.
All other credit were equal to 2.4% of operations.
SECURITIES AND BONDS
The Bank had a total of BRL778.9 million in its securities
and bonds portfolio at the close of 2011, 9.5% less
than the previous year. In line with actions of a preventive
nature due to international turbulence and true to its
conservative profile, the BICBANCO treasury continued
its policy of investing most available resources in lowrisk
bonds, especially in government bonds and bonds
issued by large private companies in Brazil.
Free cash reached the BRL4,010.1
million mark at the end of 2011,
up 65% for the year.
ACCOMMODATIONS AND GUARANTEES
Accommodations and guarantees offered to Bank clients
– a modality not included in the credit portfolio
– reached BRL1,332.5 million at the close of 2011,
31.3% higher than in 2010.
FREE CASH
Aimed at ensuring the liquidity of its assets, the Bank
ended 2011 with net cash of BRL4,010.1 million. This
total is 65% more than in 2010. This result fits with
the Bank’s assessment of the international situation,
indicating the need to leave its assets unexposed to
greater risks, at least as long as the climate of uncertainty
concerning the foreign crisis continued.
DEFAULT AND PROVISION FOR LOSSES
Provisions made by the Bank in 2011 considered losses
that had already been incurred as well as estimated
losses – weighted based on the current crisis situation
the international market is experiencing. When
evaluating credit quality indicators, the so-called “14day
overdue payments” weigh upon the credit portfolio,
since the majority of these overdue payments
are less than 30 days overdue and tend to return to
the standard level after the process of renegotiating
conditions has been started with clients.
For the so-called NPL (“More than 60 days overdue”)
indicators, there was an annual growth of BRL138
million, with little likelihood of a reversal; this should
represent the peak of this type of default. Despite
growth, the provision is already at an unsatisfactory
level of 142.4% higher, as is the Bad Debt Loss Provision
on the total portfolio, which is 4.9%.

At the same time, the Bank has shown growth in recov-
ered portfolio volumes entered as losses. Altogether,
BRL73.8 million was recovered in 2011, compared to
BRL20.5 million in 2010. There was also a stabilization
in the amount of renegotiated credit, which went from
BRL168 million in 2010 to BRL155.8 million.
FUNDING
In 2011, Bank funding reached the BRL14,449.9 million
mark, a 4.9 increase in relation to the last fiscal
year. This funding met the funding strategy, which
was aimed at lengthening funding maturity terms,
both in local and foreign currency, and reducing costs.
As a result of this position, 52.5% of total funding
gained in 2011 reached maturity in over 12 months.
Economic Scenario and Performance
TOTAL FUNDING
(BRL millions)
8,829 8,661
13,773
2008 2009 2010
14,415
2011
69.2% Domestic market funding
15.9% Trade finance funding
14.9% International market funding
Total Funding (BRL millions) 4Q11 4Q11 4Q/4Q (%)
Funding in BRL 10,000.6 9,262.3 8.0
Deposits 8,804.5 8,532.6 3.2
- Time Deposits 7,776.4 7,106.8 9.4
- Other Deposits
(Interbank, Savings, Demand and Others)
1,028.1 1,425.8 (27.9)
Credit-Rights Investment Funds (FIDCs) 409.9 303.7 35.0
Bond Resources 104.8 99.4 5.5
Trade Acceptance Resources 2.2 5.5 (60.0)
Agribusiness Letters of Credit 415.8 0.1 N.A.
Local Onlending Obligations 15.0 98.5 (84.8)
Subordinated Debt 248.4 222.5 11.6
Funding for Trade Finance 2,291.7 2,352.7 (2.6)
Foreign Loan Obligations 1,641.1 1,747.6 (6.1)
Foreign Onlending Obligations 650.6 605.1 7.5
Funding in Foreign Currency 2,157.6 2,158.4 0.0
Foreign Securities Obligations 1,538.4 1,378.4 11.6
Subordinated Debt 618.9 698.8 (11.4)
Deposits (Time and Demand) 0.3 81.2 (99.6)
Total 14,449.9 13,773.4 4.9
N.A. – Not Applicable.
43

44 Annual and Sustainability Report 2011
Percentage of Time Deposits 4Q11 4Q10
Largest Depositor 1.8 2.4
10 Largest Depositors 13.1 11.7
20 Largest Depositors 20.3 19.0
50 Largest Depositors 32.7 33.2
100 Largest Depositors 44.6 45.8
DOMESTIC FUNDING
Time deposits
At the end of the 2011 fiscal year, the sum of time
deposits totaled BRL7,776.6 million, growing by 8.2%
in relation to 2010. Of this total, 27.1% of funds (or
BRL2,106.2 million) were connected with Depósito
a Prazo com Garantia Especial do Fundo Garantidor
de Crédito – DPGE (Special Guarantee of the Credit
Guarantor Fund), in compliance with Brazilian Central
Bank Resolution No. 3,692, dated March 26, 2009. The
volume of deposits guaranteed by DPGE is equal to
around 50% of the limit that the Bank has for issuing
this kind of modality in 2012.
CDB funding guaranteed by DPGE is aimed exclusively
at lengthening terms: the average maturity for
the “traditional” CDB portfolio is around 458 days,
with this average jumping to 918 days for the DPGE
modality. Right now, the supply of resources over
longer terms has been satisfactory for both new investments
and the renewal of operations. As proof of
this, 42.2% of the Bank funding in 2011 had a term of
between one and three years.

TIME DEPOSITS BY MATURITY (in %)
Economic Scenario and Performance
22.2% Up to 3 months
23.4% From 3 to 12 months
42.2% From 1 to 3 years
12.2% Over 3 years
Of the total in December 2011, 64.8% came from
the Bank’s corporate and individual client base:
53.8% of deposits came from corporations, 11.0%
from individuals, 34.6% from institutional investors
and 0.6% from financial institutions. BICBANCO is
constantly looking to expand its depositor base in
order to increase its funding and diversify its investor
base, an initiative that lowers risk.
TIME DEPOSITS BY TYPE OF DEPOSITOR (in %)
53.8% Corporations
34.6% Institutional investors
11.0% Individuals
0.6% Financial institutions
In 2011, of the total amount of term funding, 16.7%
(or BRL1,299.2 million) had some type of liquidity
clause – generally, on the anniversary of the investment.
The agreement signed between the Bank and
the client is registered with the Central de Custódia e
de Liquidação Financeira de Títulos – Cetip (Chamber
of Custody and Liquidation).
Other deposits
Demand, savings and interfinancial deposits totaled
BRL1,028.2 million on December 31, 2011. This
amount was 27.9% lower than the BRL1,425.8 million
on record at the end of the last fiscal year.
Bonds, FIDCs and Agribusiness Letters of Credit
Bonds and FIDCs, in conjunction with the newly
launched Agribusiness Letters of Credit, diversify and
supplement the Bank’s mix of term funding on the domestic
market. Together, they totaled BRL930.5 million
in 2011, accounting for 6.4% of total funding. Of this
total, BRL409.9 million came from subscription of senior
shares in FIDCs; BRL104.8 million from simple
bonds, not convertible into shares, maturing on April
2016, issued in 2010 by the BIC Arrendamento Mercantil
controlled company; and the remainder in Agribusiness
Letters of Credit.
In 2011, BICBANCO began issuing Agribusiness Letters
of Credit, an investment geared towards individuals
and tied 100% to credit operations for agribusiness
segment clients. Created with the aim of expanding
the client portfolio and creating new business opportunities,
Agribusiness Letters of Credit are similar
to a Certificado de Depósito Bancário – CDB (Bank
Certificate of Deposit), but they have a competitive
edge: they are exempt from Income Tax, a condition
that provides the client with more attractive yields.
Launched in the first quarter of this year, Agribusiness
Letters of Credit showed total funding of BRL415.8
million by the close of the fiscal year.
45

46 Annual and Sustainability Report 2011
FOREIGN FUNDING
BICBANCO had a funding balance of BRL2,157.6 million
(an amount similar to last year), mostly through issuance
of bonds, onlending and subordinated debt. These resources
are used for hedging operations, which neutralize
the risk of mismatched currencies and work as funding
for credit operations with longer maturities.
Funding reached BRL2,291.7 for the year in the trade
finance segment, falling 2.6% compared to 2010. This
funding allows the Bank to provide resources for active
foreign trade operations, carried out at international
banks and multilateral organizations.
The Bank’s funding structure has longer terms than
the credit portfolio. A comparison between credit and
funding operations, which both mature within 90 days,
shows that credit assets totaled BRL4,342.6 million
at the end of the year, while funding operations totaled
BRL3,166.7 million.
BICBANCO was the first Brazilian
institution to receive funds from
the pilot credit program launched
by the IADB for Latin American
banks, aimed at financing the
health and education sectors.
Foreign funding in 2012 – although this report
shows data and information for 2011, two funding operations
carried out in early 2012 deserve mention. In
January, the Bank raised funding of around US$208
million from the Inter-American Development Bank
(IADB), with the goal of providing loans to sectors
with high social impact. This operation consists of a
five-year term senior loan of US$ 50million (A Loan)
from the IADB itself, supplemented by a syndicated
loan (B Loan) on the international market, with terms
from two to three years, totaling US$158 million.
BICBANCO is the first financial institution in Brazil to
receive funds from the pilot credit program launched
by the IADB for Latin American banks, aimed at financing
the health and education sectors.
At the same time, in early February 2012, US$40 million
was raised for a ten-year term from Société de
Promotion et de Participation pour La Coopération
Economique S.A. (Proparco), from the Agence Française
de Développement (AFD) group.
The maturity timeline for foreign funding, considering
the two funding operations in 2012 is shown in the
chart below.
Maturity of
Foreign Funding Amount (MM)
2012 US$133 e €15
2013 US$437 e €20
2014 US$209 e €16
2015 US$445 e €1
2016 US$21 e €1
2017 US$45 e €1
2018 US$6
2019 US$6
2020 US$306
2021 US$6
Total US$1,612 €54

FINANCIAL INTERMEDIATION INCOME GRI EC1
Financial intermediation income before provision ex-
penses ended the year at BRL306.2 million, which
is 11.2% higher than in 2010. However, provision
expenses totaled BRL491.2 million. The balance of
financial intermediation for the year including the provision
was down by 12.2% and totaled BRL806.5,
lower than the BRL918.8 in the last fiscal year.
Economic Scenario and Performance
This performance is the result of a diminished credit
portfolio and the loading of high liquidity assets, which
were affected by the consecutive cuts made to the
basic interest rate (SELIC). Long-term credit recovery
for the year reached BRL73.8 million, surpassing the
2010 figure of BRL20.5.
Financial Intermediation Income (BRL millions) 2011 2010
1. Revenues 2,427,408 1,633,301
1.1 Financial Intermediation 2,973,529 1,914,977
1.2 Provision of Services 75,751 68,754
1.3 Bad Debt Loss Provision – Reversed/(Constitution) (491,717) (248,267)
1.4 Others (130,155) (102,163)
2. Financial Intermediation Expenses 1,675,345 747,881
3. Supplies Acquired from Third Parties 143,759 87,563
3.1 Materials, Energy and Others 37,405 31,697
3.2 Third-Party Services 78,034 66,577
3.3 Loss/(Recovery) of Assets 28,320 (10,701)
4. Gross Added Value (1-2-3) 608,304 797,657
5. Depreciation, Amortization and Depletion 22,072 22,686
6. Net Added Value Produced by the Organization (4-5) 586,232 775,171
7. Added Value Received in Transfer 58 51
7.1 Result of Equity Accounting - -
7.2 Others 58 51
8. Added Value to Distribute (6+7) 586,290 775,222
9. Distribution of Added Value 586,290 775,222
9.1 Personnel 191,642 148,107
9.1.1 Direct Remuneration 163,017 125,330
9.1.2. Benefits 19,228 14,383
9.1.3 Government Severance Indemnity Fund for Employees (FGTS) 10,397 9,394
9.2 Taxes and Contributions 141,249 263,845
9.2.1 Federal taxes 126,320 252,794
9.2.2 State taxes 837 481
9.2.3 Municipal taxes 14,092 10,570
9.3 Remuneration of Third-Party Capital 20,996 14,584
9.3.1 Rent 20,996 14,584
9.4 Remuneration of Shareholders’ Equity 232,403 348,686
9.4.1 Interest on Shareholders’ Equity 104,000 104,000
9.4.2 Dividends 5,000 31,000
9.4.3 Retained Earnings 123,403 213,686
The explanatory notes of the administration are an integral part of the financial statements.
47

48 Annual and Sustainability Report 2011
FINANCIAL MARGIN
In 2011, the net interest margin (NIM) was 7.9% lower
than the 8.6% in the last fiscal year. The drop in margin
was particularly influenced by a change in the composition
of the remunerated asset mix as a result of the
crisis abroad. Based on the reduced volume of credit
operations, these resources were used for assets with
more liquidity that provided less remuneration.
NET INCOME
The growth in the amount of provisions, the lower
volume of credit operations and the maintenance of a
large amount of resources in cash had a negative impact
on the bottom line for the fiscal year. Net income
for the period fell by 33.5% compared to income
gained the year before, totaling BRL232.4 million. Return
On Average Equity (ROAE) hit 11.8% for the year,
with Return On Average Assets (ROAA) at 1.3%.
NET EARNINGS
(BRL millions)
321 318
349
2008 2009 2010
232
2011
SHAREHOLDERS’ EQUITY
BICBANCO shareholder equity reached the mark of
BRL1,996.0 million at the end of the 2011 fiscal year.
This amount was 2.1% more than the BRL1,954.9 million
on the books at the end of the previous year and is
equal to a book value of BRL8.11 per share (5% higher
than the BRL7.73 in the last fiscal year per share).
SHAREHOLDERS’ EqUITY
(BRL millions)
1,685
1,766
1,955
2008 2009 2010
1,996
Based on the lower volume of credit
operations, resources were directed
to assets with greater liquidity
that provided less remuneration.
2011

CAPITAL ADEQUACY RATIO
Brazilian Central Bank standards require
that banks maintain reference equity
of equal to or greater than 11% of
the risk-weighted assets. BICBANCO’s
Capital Adequacy Ratio at the end of
2011 was 18.06%. The higher rate is
associated with a reduction in the volumes
of risk-weighted assets resulting
from a lower credit portfolio.
Economic Scenario and Performance
CAPITAL ADEqUACY RATIO
(in %)
17.17
5.57
11.6
15.63
4.41
11.22
16.05
4.36
11.69
17.54
5.34
12.2
18.06
5.49
12.57
4Q10 1Q11 2Q11 3Q11 4Q11
11%
TIER II
TIER I
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50 Annual and Sustainability Report 2011
Stakeholder Relations
GRI EC4 and DMA HR – Non-Discrimination

Stakeholder Relations
The Bank strives to establish lasting bonds with
its stakeholders based on trust, mutual respect
and ethics and that create value for all stakeholders.
In its relationships with its many stakeholders,
BICBANCO works in tandem with its principles by
using responsible corporate management, maintaining
operations within current standards, offering
quality products and services to its clients and giving
back some of the results that it has gained through
its efforts to society.
The Bank strives to establish lasting bonds with its
stakeholders based on trust, mutual respect and ethics
and that create value for all stakeholders. To do
this, it makes corporate information available in a
transparent manner and uses resources to constantly
improve and expand engagement with its interlocutors.
The Bank’s actions are based on the principles of
its Code of Ethics, available online at www.bicbanco.
com.br. Cases of complaints/questions/suggestions
can be submitted to the Ethics Committee at the following
e-mail: comite.etica@bicbanco.com.br.
The Bank focuses its efforts on informing, directing
and distributing its resources to society in an ordered
and balanced manner, with the purpose of fostering
consistent growth for these stakeholders and collaborating
to appropriately grow social, environmental,
financial and intellectual capital, which leads to sustainable
development.
In this context, the Bank has several interactive channels
available, described under the “Communication”
topic, in addition to a dedicated e-mail for sustainability
matters: movimentoazul@bicbanco.com.br. Issues
received through any of the communication channels
involving matters connected to social and environmental
risks and opportunities are sent to the Blue
Committee for treatment.
BICBANCO does not receive significant government
assistance, since the proportion of amounts received
through tax incentive laws (BRL2.9 million) and the
amounts of taxes paid (approximately BRL250 million)
is 1.2%.
ENGAGEMENT
GRI 3.5, 4.14, 4.15, 4.16, 4.17, 4.4 and FS5
Strengthening its relationship with stakeholders is
one of BICBANCO’s strategic objectives. To identify
and select stakeholders, meetings were held among
all Bank managers on the following topic: “What is
the social role of a financial institution?”. At the outset,
12 groups of stakeholders were listed: the market,
clients, regulatory authorities, internal public, shareholders,
unions, the community, the environment,
the media/press, market analysts, suppliers, the government
and society.
To foster this engagement, the Institution also provides
several channels of communication, it discloses
its sustainability management policies and it adopts
specific and regular initiatives that encourage adoption
of these guidelines.
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52 Annual and Sustainability Report 2011
TALKING TO PRIORITY STAKEHOLDERS
Clients
221.4 thousand clients
Ombudsman
BICBANCO Customer Service (SAC)
BICBANCO Website
Annual Report
46 Service Points
DDA (Authorized Direct Debit)
Community
45 projects supported
BICBANCO Website
Social and Cultural Initiatives
Educational Projects
Annual Report
Self-Regulation Committee
Shareholders and Investors
2,694 shareholders
IR Website
IR E-mail
IR Department
Press Releases
Annual Report
APIMEC Meetings
Internal Public
1041 employees
Leaflets
Internal Memos
Ethics Committee
Annual Report
Intranet
Health and Quality of
Life Programs
Every year, BICBANCO creates a materiality matrix aimed at prioritizing material aspects and topics (GRI guidelines,
version G3.1) for prioritization in its management and reporting in the sustainability report. The methodology
used in 2011 involved consulting stakeholders as follows:
E-mail consultation with external stakeholders –
the consultation was done through e-mails sent with
previously prepared topics, based on studies done
with recognized sustainability indices, including:
DJSI, ISE and GRI criteria. Among others, NGOs, clients
and investors were consulted.
E-mail consultation of the internal public – the
consultation was done with BICBANCO employees,
representing all departments. Participants ranked material
aspects/topics and took part in discussions on
sustainability, actively contributing to the content of
the BICBANCO 2011 sustainability report.

External Stakeholder
30
25
20
15
10
5
Information gleaned from consultations with external
stakeholders was tabulated and reported on the Y axis of
the Materiality Matrix. The results gleaned from the internal
public were consolidated and reported on the X axis of
the Materiality Matrix. After a statistical cut-off criterion,
the following topics were prioritized:
Stakeholder Relations
Economic performance/Risks and opportunity
Market presence
Indirect economic impacts
General/Environmental management system
Relations between workers and governance/Career management
Training and education
Non-discrimination
Community relations/Social programs
Anti-corruption practices
Product and service labeling
Interaction with companies on social and environmental issues
Access for people with disabilities
Development and sale of products and services
Analysis with individual voting
0
0 2 4 6 8 10 12 14 16
Internal Stakeholder
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54 Annual and Sustainability Report 2011
CLIENT RELATIONS QUALIFIED SERVICE
To provide qualified service, the Bank has certified professionals
who have intimate knowledge of the market
in which they work, of local economic profiles and of
the specific needs of clients in each region. These professionals
are prepared to propose products and services
that are suitable to the features of each company.
BICBANCO also invests in the constant enhancement
of its teams, which are advised to offer agile and efficient
solutions and strengthen relationships with
its clients, based on open and transparent dialogue,
which makes it possible to create an identity with
the Bank and consolidate the BICBANCO brand. In
training, employees are told to work collaboratively, a
strategy that encourages a culture of teamwork.
In the investment area, all professionals are given
specific training to ensure excellence in service. In
line with the organization’s code of self-regulation and
with Comissão de Valores Mobiliários – CVM (Brazilian
Securities and Exchange Commission) requirements,
standardized by Brazilian Central Bank Resolution
No. 3,158, these employees are certified by the
Associação Brasileira das Entidades dos Mercados
Financeiros e de Capitais – Anbima (Brazilian Association
of Financial Market and Capital Entities).

SERVICE POINTS GRI FS14
BICBANCO ended 2011 with 46 service points in
Brazil, located in 34 cities in 18 states and the Federal
District, plus a branch in Grand Cayman, aimed
at offering support for all international operations. The
Bank also relies on a collection network that carries
out the most varied collections transactions – with
transfer of securities to withdrawers, receivables and
notary public – nationwide.
Despite the circumstances on the international financial
market, BICBANCO has maintained its strategy
of serving the regions with the greatest economic
growth. BICBANCO inaugurated a new service point
in the city of Belém (Pará State) in 2011. With this,
it once again has a presence in the northern region
of Brazil and is operational in every region. The
new branch represents another step for the organic
growth of the Bank, which is focused on cities that
significantly contribute to Brazil’s economic growth
and that show effective possibilities for growth.
All service points are located in strategic commercial
centers and have trained professionals. These requirements
are fundamental for providing unique service
that adds value to the region and contributes to local
social and economic development.
Stakeholder Relations
Aimed at offering quality service, the Bank defends
fair and legitimate standards for dealing with direct
contacts with its publics. All workers are advised to
respect priority service for people with disabilities,
those over 60 years of age, pregnant women, new
mothers and people with small children.
To provide easier service for people with disabilities
or restricted mobility, all branches have access ramps,
adapted teller counters for preferential service, counters
with special measurements, tactile flooring, special
bathrooms, dedicated lines, demarcated parking
spots, elevators providing easy access, employees
trained in Brazilian Sign Language (Libras), a special
chair in the teller area, forms and systems adapted
according to the accessibility criteria established by
Standard 9050 of the Associação Brasileira de Normas
Técnicas - ABNT (Brazilian Association of Technical
Standards).
With the inauguration of
a new service point in the
city of Belém, the bank was
once again present in the
northern region and operating
in every region in Brazil.
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56 Annual and Sustainability Report 2011
COMMUNICATIONS GRI PR3, PR6, PR7, 4.4, DMA PR – Marketing
Communications and DMA PR – Product and Service Labeling
Maintaining relations with all of its interlocutors is a
BICBANCO guideline. In this sense, various communications
and relationship channels are available, such
as Customer Service (SAC) and the ombudsman, with
direct communication channels online through “Contact
Us” and “Contact IR.”
These channels are based on transparency, they are
translated into a clear, simple and objective language
at every level and they contain up to date and complete
information. Transparency is also present in contractual
instruments, which contain legal information
defined by regulatory authorities, such as the Brazilian
Central Bank and the Comissão de Valores Mobiliários
– CVM (Brazilian Securities and Exchange Commission)
as well as internal policies for each product, so
that clients and other partners are advised appropriately.
In both personal service and external communications
with several media channels, professionals
are advised to offer special service and facilitate access
to the highest governance bodies and to information
on Bank products and services.
With this position, the Institution intends to guarantee
efficient, agile, cordial and ethical service that is
compatible with regulations, requirements, recommendations
or legal standards established by the Brazilian
Central Bank (BACEN), the Federação Brasileira
de Bancos – Febraban (Brazilian Federation of Banks),
the Programa de Orientação e Proteção ao Consumidor
– Procon (Consumer Protection and Orientation
Program) and other sector regulatory agencies.
The Bank maintains good relations
with its stakeholders and periodically
discloses relevant information of
public interest on the Institution and its
financial operations.
The Bank believes that the banking system will evolve
if each bank surpasses the expectations of their consumers
and the strict indications of standards. This
is why BICBANCO has, in conjunction with Brazil’s
largest banks, created the Brazilian banking self-regulation
system, adding to the standards and control
mechanisms that already exist.
Its goal of maintaining open and transparent communication
also applies to press agencies. The Bank
maintains good relations with these interlocutors and,
through its press agent, it periodically discloses relevant
information of public interest on the Institution
and its financial operations.
To appropriately communicate with its stakeholders,
the Bank has created marketing initiatives that include
institutional events, advertisements and sponsorships
in various segments. All publicity activities
promoted by the Institution in 2011 were in line with
the standards defined by the Conselho Nacional de
Autorregulamentação Publicitária – Conar (National
Board of Advertising Self-Regulation). There were no
cases of non-compliance with regulations and codes
adopted. This compatibility is assessed each time a
new campaign, external communication project or
promotional piece is launched.
The BICBANCO website represents one of the main
communication channels for maintaining updated information
on the Institution that is open to all visitors.
Developed to offer a friendly interface that is easy to
navigate, is agile and has objective and clear content,
the website provides information on products and
services, branch bank locations, an institutional profile
and financial data, while highlighting the main initiatives
adopted by the Institution in addition to offering
access to Internet Banking. All Internet accesses are
protected by authentication systems, such as a virtual
keyboard and a security token for Direct Debit users.

CUSTOMER SERVICE GRI PR5 and PR8
Aimed at serving clients and the general public, including
those with hearing and speech disabilities,
Customer Service Center (SAC) has appropriately
trained teams that are ready to answer questions and
take suggestions, complaints and criticism.
Specialized service also represents an important
tool for strengthening relations with various publics,
identifying specific demands for certain niche clients,
understanding needs and expectations regarding
products and services, gaining more knowledge on
the features of clients using this service, and finding
Stakeholder Relations
56.5 thousand
Requests were answered by the Customer
Service Center in 2011
opportunities for improvement. In 2011, the Customer
Service Center answered 2,449 requests – 1,987 by
telephone and 462 by e-mail.
In parallel, the Institution has a specific Customer Ser-
vice Center for Consigned Credit Area and Sul Financeira
clients, which features a team of specialists in
these products. With agile and efficient service, this
Customer Service Center answered 54,066 requests
in 2011. There were no occurrences related to the loss
or violation of client data.
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58 Annual and Sustainability Report 2011
OMBUDSMAN GRI PR5
An independent agency, the ombudsman is a direct
line to upper management. Its duty is to receive, assess
and resolve issues that clients find they were
unable to resolve through traditional channels (Customer
Service). During 2011, the ombudsman was contacted
about 140 matters, 104 of which were effective
demands. All manifestations that reached this agency
were monitored and resolved in 2011, although the
Bank does not have a tool for identifying the degree
of client satisfaction.
Only one demand was answered outside of the regulatory
timeframe of 15 days established by Brazilian
Central Bank Resolution No. 3,849, article 2, item III.
CLIENT RELATIONS
GRI DMA PR – Customer Privacy
In-depth knowledge of the markets in which it operates,
especially the middle market segment, has
made it possible for the Bank to create and offer specialized
and customized products and services, to
serve the specific demands and needs of each client,
with agility, efficiency and quality.
The Institution seeks to provide service with excellence,
aimed at adding value to, attracting, retaining,
building the loyalty of and strengthening relations with
this public. All operations executed with the Bank are
carried out through contracts, ensuring that business
is trustworthy and has integrity, providing the correct

accountability and attesting to the sincerity of agreements
signed. For the security of its clients, the Bank
relies on internal controls, standards and security policies,
in addition to strict standards of employee behavior
and conduct, established in the Code of Ethics.
MARKET RELATIONS
GRI SO1, SO7, SO9, SO10 and DMA SO – Unfair competition
In compliance with Comissão de Valores Mobiliários
– CVM (Brazilian Securities and Exchange Commission)
determinations, BICBANCO relies on a Policy
on Information Disclosure to the Market for publishing
relevant information with transparency and equal
treatment. This policy is made feasible through internal
controls and information security standards,
in addition to the Code of Ethics, which standardizes
employee conduct. As a result of this position,
there were no legal actions brought against the Bank
in 2011 regarding unfair competition and trust and/or
monopoly practices. Because its credit operations,
the Institution’s main product accounts for around 1%
of the national total, BICBANCO does not have practices
and programs for assessing and managing the
impacts of operations on communities after based on
the opening or closing of branches.
INVESTOR RELATIONS
BICBANCO had 2,694 shareholders at the end of the
2011 fiscal year. Relations with this public are coordinated
by the Investor Relations (IR) area, which is
guided by responsibility in business management, by
equal treatment in availability of information and in
service for investors, and by the principles of ethics
and transparency in accountability.
Stakeholder Relations
Aimed at strengthening the relationship with these
stakeholders, the Bank has created specific publications;
it holds meetings aimed at investors, such as
meetings to present results to the Associação dos
Analistas e Profissionais de Investimento do Mercado
de Capitais – Apimec (Association of Capital Market
Investment Analysts and Professionals); and, among
other actions, it provides a website for investors that
is open to everyone (www.bicbanco.com.br/ri) with
up to date information on teleconferences (webcast),
results releases, corporate governance, sustainability
and technical assessments, in addition to complete
material on the Institution’s performance.
Related people have the duty to formally communicate
to the IR director, by e-mail at relacoes.investidores@bicbanco.com.br,
all relevant information that
they may become aware of prior to its public disclosure,
as well as communicating the material fact or
act and/or the aforementioned information that they
may be personally aware of to the CVM, in the event
that the IR director is remiss in his duty to disclose or
inform. The aforementioned connected persons are
also responsible for keeping relevant information to
which they may have privileged access until it is disclosed
to the market.
To strengthen relations, specialized
publications are created, meetings
with investors and meetings with
clients and market analysts are held,
among other initiatives.
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60 Annual and Sustainability Report 2011
RELATIONSHIP WITH SOCIETY
GRI SO1, DMA SO – Community, EC8 and EC1
BICBANCO seeks to strengthen its relations with
the communities where it operates and collaborate
to promote inclusion, citizenship, dissemination of
knowledge and culture, and improved quality of life.
Resources used for this purpose support social projects
that are aligned with this concept, contributing to
democratic access to various kinds of manifestations
in the arts, education and sports.
The investment strategy consists of registering projects
matching the Institution’s goals in this area and
making joint decisions on the amount and frequency
of the investment, prioritizing those investments that
have repercussions in the social, cultural and educational
areas. The management process includes analysis
of the applicant, suitability and registration and
tax references, in addition to on-site follow up and
monitoring of project results.
The Bank diversifies its social investments in order
to reach different publics and regions. In 2011, it supported
45 projects in different areas, investing around
BRL3.2 million. Of the total invested and earmarked
for projects sponsored through the use of tax incentive
laws, Rouanet Act investments were BRL2.0 million,
sports was BRL300 thousand, and donations to Child
and Teen Rights Council projects were BRL560 thousand.
This is in addition to investing company resources
of around BRL406.7 thousand, with (in thousands)
BRL 61 going to culture, BRL 228 to sports, BRL 68 to
education, BRL 42.5 to donations of a social nature,
and BRL 7.2 to maintaining an urban public space.
The following are descriptions of some of the projects
that received Bank support and were effectively carried
out in 2011:
Projeto Guri – working on fostering social and cultural
inclusion projects, BICBANCO was the chief sponsor, in
2011, of the Projeto Guri educational center, considered
to be the largest free musical education program in the
country, coordinated by the Associação Amigos do Projeto
Guri, an association of friends supporting the project,
in the Ribeirão Preto (SP) region. The project offers
musical training to over 300 kids and teens. With incentives
from the state government, Projeto Guri administers
introductory classes and theoretical classes on music,
choir, and string, brass, woodwind and percussion
instruments, at 374 centers across 320 cities in the State
of São Paulo. Altogether, the project includes more than
50 thousand kids and teens aged 7 to 18 who have good
school attendance records.
Casa Taiguara de Cultura – through the Fundo
Municipal dos Direitos da Criança e do Adolescente
– FUMCAD (Municipal Fund for Children and Teens),
sponsorship was given to the Casa Taiguara de Cultura
project, which maintains a program of extra-curricular
social inclusion for homeless and underprivileged kids
and teens from São Paulo neighborhoods (Bela Vista,
Bexiga, Sé, Glicério and Liberdade). In the project,
educators and volunteers give regular courses on
subjects such as web design, blogging, Office, audiovisual
production, percussion, DJ-ing, street dance
and capoeira. Casa Taiguara also offers recreational
and cultural activities, such as reading, story narration,
soirée, artistic performances and movie cycles.

Magic Wheels Team – since 2004, BICBANCO has
sponsored training and preparation for the Magic
Wheels youth wheelchair basketball team. Run by
the Associação Desportiva para Deficientes (AAD),
the project serves 21 athletes and their families, who
receive follow-up and guidance on nutrition and physical
and psychological fitness. In 2011, the team rose
to the first division in the Brazilian Wheelchair Basketball
Championship.
Stakeholder Relations
The School for Scandal – this classic play, written
in 1777 by Ireland’s Richard Sheridan and performed
in over 17 countries, came to Brazil in 2011 and was in
theaters in the cities of Rio de Janeiro and São Paulo.
Adapted and directed by Miguel Falabella, it was supported
by the Ministry of Culture and BICBANCO,
among other sponsors, fostering democratization of
culture in Brazil.
Activities in the social area are aimed at promoting inclusion,
citizenship, dissemination of knowledge and culture and improving
quality of life in neighboring communities.
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62 Annual and Sustainability Report 2011
Caetano Veloso and Maria Gadú – a Multishow
Awards winner for best album and best new MPB artist
in 2010, singer Maria Gadú performed alongside
one of the MPB’s biggest stars, Caetano Veloso, in
a series of shows on the “Caetano Veloso and Maria
Gadú” tour, sponsored by BICBANCO.
“Acoustic MPB” Series – seven shows were played
at the Fundação Maria Luisa e Oscar Americano Auditorium
in São Paulo, with renowned Música Popular
Brasileira – MPB (Brazilian Popular Music) musicians:
Marcos Valle, João Bosco, Carlos Lyra, Danilo Caymmi,
Roberto Menescal and Wanda Sá, Marina Lima,
and Ivan Lins.

Stakeholder Relations
Beauty and the Beast On Ice – BICBANCO sponsored
Great Britain’s Wild Rose company in its performance
of the “Beauty and the Beast On Ice” musical
in São Paulo. In total, 20 ice skaters from around
the world, including former Olympic athletes and
veterans of international competitions, brought the
characters of this classic story to life, with subtitles
for Brazilian audiences and acrobatics. Some tickets
were sold at affordable prices and were also donated
to philanthropic institutions for children, teens and
the elderly. At one of the sessions, BICBANCO gave
a special welcome to 24 wheelchair athletes from the
Associação Desportiva de Deficientes (ADD).
Orquestra Filarmônica Bachiana – BICBANCO was
one of the master sponsors, bringing the Orquestra
Filarmônica Bachiana, conducted by Maestro João Carlos
Martins, to the stage of the Teatro José de Alencar,
in Fortaleza. Two performances were given, with
the proceeds from one going to Fundação do Rim do
Estado do Ceará, a foundation supporting kidney care,
and another free to people with kidney disease and
their families. Music and solidarity mobilized society in
Ceará to benefit overcoming kidney disease.
Participation in entities
representing society allows the
Bank to contribute with its
experience, influencing decision
making and supporting initiatives.
INSTITUTIONAL PARTICIPATION
GRI 4.13, SO5 and DMA SO – Public Policies
Participation in entities representing society allowed
the Bank to contribute its experience, influence decision
making, support initiatives aligned with Institution
principles and spread its values.
The Bank participates in the Federação Brasileira de
Bancos – FEBRABAN (Brazilian Federation of Banks)
and the Associação Brasileira de Bancos – ABBC
(Brazilian Association of Banks) on boards, committees
and sub-committees. It attends periodical meetings
held by the Instituto Brasileiro de Governança
Corporativa – IBGC (Brazilian Institute of Corporate
Governance) and does effective work at trade associations
and institutes, such as the Instituto Brasileiro
de Executivos de Finanças – Ibef (Brazilian Institute of
Financial Executives). The Bank also has representatives
on a committee created by consumer defense
organizations – pursuant to guidelines in the Code of
Self-Regulation of these institutions – aimed at contributing
to creating and perfecting standards of service
and bank services, which makes it possible for
BICBANCO to closely monitor important indicators of
efficiency established by these respective entities.
UNION RELATIONS GRI HR5, LA4 and DMA HR – Freedom of Association
and Collective Bargaining
The Union Relations Policy faithfully upholds respect
of the rights of the BICBANCO internal public, ensuring
all employees the right to freely join unions and
accepting collective bargaining agreements, which
cover 100% of workers. This policy establishes that
union leaders must be given access to Bank premises
in order to communicate matters of employee interest
or deliver informational materials, brochures and
union newsletters. The Bank also allows union campaigns
to be held and, at these events, it provides appropriate
space, notifying its employees of the events
and enabling everyone to exercise their right to associate.
At the end of 2011, a total of 214 employees
were union members.
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64 Annual and Sustainability Report 2011
Intangible
Assets
GRI DMA LA – Employment

Intangible Assets
Internal control and risk management systems, brand
credibility and committed teams are some of the intangible
assets that contribute to sustainable business.
Aspects that reflect the Bank’s main intangible assets are
present in its branches in the largest cities of Brazil, in
know-how on the segment in which it operates, in customized
internal control and risk management systems, in
advanced banking technology, in the brand’s credibility on
the market and, especially, in its specialized teams that
are committed to the Institution’s strategic goals.
The Bank has always focused its activities on granting credit
to the productive sector. This position has allowed it to
acquire know-how in the credit area and accumulate tools
for perfecting the mechanisms involving this process over
the years. In the last two decades, by concentrating its
efforts on the middle market, the Bank has accumulated
experience in the industry and has improved products and
instruments to appropriately serve this public.
Aware of the importance of its employees’ intellectual assets
and intellectual capital, the Bank has created policies on
relations with the internal public that are aimed at documenting
processes, sharing knowledge and recognizing, retaining
and appreciating people’s commitment and dedication.
Additionally, BICBANCO has its own efficient technological
structure, the ability to originate credit operations,
risk management and a commitment to best practices in
corporate governance, factors which have helped the Institution
to achieve recognition, awards and prominence in
Brazil and abroad, upholding its reputation and strengthening
its branding.
The new headquarters represents a step forward for
BICBANCO in terms of infrastructure, internal environment
and technology, given the investments made in these areas.
BRAND AND IMAGE
BICBANCO seeks to associate features such as solidity, reliability,
security, dynamism, integrity and responsible corporate
management with its brand. The success of this association
depends on the Bank’s commitment to its clients, respect for
the conduct policies that guide initiatives and conduct based on
Institutional values, especially on transparency and ethics in relations
with all stakeholders.
Among other points, the brand’s good reputation is translated:
In the ability to raise investor resources, providing proof
of the Bank’s acceptance in both the markets in which it
operates and in new markets;
In its Code of Ethics, which covers all stakeholder relations;
In the consecutive awards and certification indicating the
brand’s adherence to best practices, such as the achievement
of AAA+ in sustainability and HR area certification,
validated by international organizations;
In the wide range of information disclosed in its financial
statements (especially in explanatory notes), confirming
its endeavor to be transparent;
In publicity campaigns aimed at its target audience, in
media contacts and in relationship activities, always complying
with the requirements of the Conselho Nacional
de Autorregulamentação Publicitária – Conar (National
Board of Advertising Self-Regulation) and the Brazilian
Association of Advertisers (ABA).
In 2011, in an effort to provide guidance on the correct use
of its logo and assign responsibilities for preserving the integrity
of its image, the Bank created a new addition of the
Brand Use manual and implemented an internal policy to
formalize the marketing and communication area’s responsibility
for managing conglomerate branding and regulating
its use and application considering tangible (form) and intangible
aspects (institutional image).
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66 Annual and Sustainability Report 2011
HUMAN RESOURCES
GRI DMA LA – Diversity and Equal Opportunity, DMA LA – Equal Remuneration
for Women and Men, DMA LA – Training and Education, DMA LA – Occupational
Health and Safety, DMA LA – Labor/Management Relations, DMA
HR – Non-Discrimination, HR4, LA1, LA2, LA5, LA14, EC5 and EC7
BICBANCO’s relationship with its internal public is
based on ethics, on offering equal opportunities, and
on respect for differences and individualities, aimed at
respecting diversity and preventing cases of discrimination
from occurring – using open, clear and objective
dialogue. To do this, various channels of communication
with the internal public are maintained, geared
towards keeping employees informed of decisions
and important information on the Institution that may
change daily employee activities or be of employee
interest. This is done at variable intervals, according
to the impacts forecast. The Bank discusses this topic
in the Code of Ethics and in 2011 it did not identify or
register cases of discrimination of any nature.
Human Resources Management has been structured
to stimulate participation, personal and professional
development, continued education and quality of life.
In turn, the Bank offers a payment model fitted to the
position and compatible with market salaries, seeking
to recognize, value and reward effort, talent, competency
and the commitment of individuals or teams.
Its strategy for managing intellectual capital is suppor-
ted on three points: quality of life at work, career opportunities
and fixed and variable pay. The strategy’s
guidelines comply with the Code of Ethics, which
sets forth principles and initiatives to be adopted to
avoid conflicts of interest.
To meet workers’ contractual needs at their business
units, located in 35 cities in 18 states and the Federal
District, the Bank uses selective processes at the
same locations where these opportunities are available,
always pursuant to ethical principles, such as
respect for all types of difference. This policy makes it
possible for most workers hired to live in the region,
which benefits local communities.
At the end of 2011, the staff at the BICBANCO conglomerate
was comprised of 1,041 employees with open-
-ended employment (CLT regime) contracts, up 2% for
the year, and 176 service providers, working outside
of the Institution’s core business. The work day for all
effective employees complies with Consolidação das
Leis de Trabalho – CLT (Consolidated Labor Laws), with
28 employees working six-hour days and remaining
employees working a fulltime day of eight hours.
INTERNATIONAL TOP EMPLOYERS CERTIFICATION
GRI DMA LA – Labor/Management Relations
In 2011, the Bank received the international certification
Top Employers from the Corporate Research
Foundation (CRF) Institute, an organization headquartered
in Amsterdam, Netherlands, which for 20 years
has recognized companies around the world for their
human resources practices.
BICBANCO was honored for its primary benefits, career
and corporate culture and was the only certified company
in Brazil out of all 13 companies that received recognition
– the other 12 are multinationals. The study determining
certification covers eight items: development,
recognition, working conditions, talent management,
performance management, communication, diversity
management and organizational strategy. In this analysis,
results are given in five categories: primary benefits,
secondary benefits and working conditions, education
and development, career and corporate culture.
The Bank is aware of the importance of the work environment
and interpersonal relations assessments
and has used CRF Institute studies, whose reports
have identified and mapped themes that need to be
prioritized and concepts coming from the internal public
to gain a better organizational climate.
Using harmony in organizational climate, the Bank
seeks to identify the points for improvement indicated
by its teams. To do this it uses Top Employers
tools for diagnosis and mapping the Institution’s organizational
climate.

DIVERSITY MAP GRI LA1, LA13 and DMA LA – Diversity and Equal Opportunity
Intangible Assets
The Bank’s staff includes employees of every race, at every hierarchical level. At the end of 2011, 41% of all
effective employees were women and 14%, or 142 employees, were Afro-Brazilian. Staff diversity indicators
show that the Bank makes no distinctions and is ready to offer opportunities for growth to all professionals
who are suitable for the intended job, in the same way that it tries to value and recognize the commitment and
competency of its workers.
GOVERNANCE BODY
AGE GROUP
ACADEMIC BACKGROUND
GENDER
0.00% 16 to 24
0.00% 25 to 35
27.78% 36 to 45
44.44% 46 to 55
27.78% 56 or older
0.00% Primary School Graduate
0.00% Secondary School Graduate
0.00% Some Post-Secondary Education
55.56% Post-Secondary School Graduate
44.44% Masters/Graduate Degree Holder
RACE
TIME SERVED
100% 0%
5.56% Asian
94.44% White Caucasian
0.00% Afro-Brazilian
22.22% 0 to 2
16.67% 3 to 5
27.78% 6 to 10
5.56% 11 to 15
27.78% 16 or older
67

68 Annual and Sustainability Report 2011
MANAGEMENT
AGE GROUP
TIME SERVED
ANALYSTS
AGE GROUP
TIME SERVED
0.00% 16 to 24
20.62% 25 to 35
32.99% 36 to 45
37.11% 46 to 55
9.28% 56 or older
38.14% 0 to 2
13.40% 3 to 5
8.25% 6 to 10
5.15% 11 to 15
35.05% 16 or older
16.00% 16 to 24
44.35% 25 to 35
25.22% 36 to 45
12.87% 46 to 55
1.57% 56 or older
57.39% 0 to 2
19.30% 3 to 5
4.35% 6 to 10
2.78% 11 to 15
16.17% 16 or older
RACE
RACE
GENDER
GENDER
3.09% Asian
89.69% White Caucasian
7.22% Afro-Brazilian
72.16%
2.26% Asian
78.43% White Caucasian
19.30% Afro-Brazilian
52.52%
ACADEMIC BACKGROUND
ACADEMIC BACKGROUND
0.00% Primary School Graduate
0.00% Secondary School Graduate
10.31% Some Post-Secondary
Education
54.64% Post-Secondary
School Graduate
35.05% Masters/Graduate
Degree Holder
27.84%
47.48%
0.35% Primary School Graduate
15.83% Secondary School Graduate
25.22% Some Post-Secondary
Education
50.09% Post-Secondary
School Graduate
8.52% Masters/Graduate
Degree Holder

COMMERCIAL
AGE GROUP
TIME SERVED
COORDINATORS
AGE GROUP
TIME SERVED
3.08% 16 to 24
18.46% 25 to 35
35.38% 36 to 45
37.31% 46 to 55
5.77% 56 or older
51.92% 0 to 2
21.92% 3 to 5
9.62% 6 to 10
4.23% 11 to 15
12.31% 16 or older
0.00% 16 to 24
16.48% 25 to 35
42.86% 36 to 45
40.66% 46 to 55
0.00% 56 or older
13.19% 0 to 2
27.47% 3 to 5
6.59% 6 to 10
6.59% 11 to 15
46.15% 16 or older
RACE
RACE
Intangible Assets
GENDER
GENDER
0.00% Asian
95.77% White Caucasian
4.23% Afro-Brazilian
61.92%
5.49% Asian
80.22% White Caucasian
14.29% Afro-Brazilian
71.43%
ACADEMIC BACKGROUND
ACADEMIC BACKGROUND
38.08%
69
0.00% Primary School Graduate
3.46% Secondary School Graduate
15.00% Some Post-Secondary
Education
59.62% Post-Secondary
School Graduate
21.92% Masters/Graduate
Degree Holder
0.00% Primary School Graduate
6.59% Secondary School Graduate
8.79% Some Post-Secondary
Education
60.44% Post-Secondary
School Graduate
24.18% Masters/Graduate
Degree Holder
28.57%

70 Annual and Sustainability Report 2011
OVERALL TOTAL, NOT INCLUDING GOVERNANCE BODIES
AGE GROUP
TIME SERVED
OVERALL TOTAL
AGE GROUP
TIME SERVED
9.78% 16 to 24
33.04% 25 to 35
30.11% 36 to 45
23.85% 46 to 55
3.23% 56 or older
50.24% 0 to 2
20.14% 3 to 5
6.26% 6 to 10
3.71% 11 to 15
19.65% 16 or older
9.61% 16 to 24
32.47% 25 to 35
30.07% 36 to 45
24.21% 46 to 55
3.65% 56 or older
49.76% 0 to 2
20.08% 3 to 5
6.63% 6 to 10
3.75% 11 to 15
19.79% 16 or older
RACE
RACE
GENDER
GENDER
2.05% Asian
84.07% White Caucasian
13.88% Afro-Brazilian
ACADEMIC BACKGROUND
58.46% 41.54%
2.11% Asian
84.25% White Caucasian
13.64% Afro-Brazilian
ACADEMIC BACKGROUND
59.17% 40.83%
0.20% Primary School Graduate
10.36% Secondary School Graduate
19.75% Some Post-Secondary
Education
53.86% Post-Secondary
School Graduate
15.84% Masters/Graduate
Degree Holder
0.19% Primary School Graduate
10.18% Secondary School Graduate
19.40% Some Post-Secondary
Education
53.89% Post-Secondary
School Graduate
16.33% Masters/Graduate
Degree Holder
Note: Unlike in previous years, elected board members were not considered as BICBANCO staff employees, since they are not
under Consolidação das Leis de Trabalho – CLT (Consolidated Labor Laws) contracts.

For its constant
investment in human
capital, BICBANCO was
the only Brazilian company
to receive Top Employers
international certification
in 2011, which recognizes
companies for excellence in
human resources practices.
EMPLOYEES BY
REGION
TOTAL: 1,041
10
50
87
718
Intangible Assets
176
INCLUSION OF PEOPLE WITH DISABILITIES
GRI DMA LA – Diversity and Equal Opportunity
The Bank is part of the FEBRABAN Professional Training
and Inclusion Program for People with Disabilities,
an initiative created to lessen bank difficulties in
hiring workers with disabilities; the Program has its
own rules for recruitment and filling positions, stipulated
in an agreement signed with the Public Ministry
of Labor. Its goal is to ensure equal work and income
opportunities for these professionals while supporting
qualified manpower for the banking industry,
in addition to providing a learning experience for all
employees, considering inclusion and coexistence. At
the close of 2011, BICBANCO had 37 workers on its
staff hired through the Program.
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72 Annual and Sustainability Report 2011
REMUNERATION GRI LA14, DMA LA – Equal Remuneration for Women
and Men and EC5
Bank Remuneration Practices consider salary brackets
that make no distinction between men and women
who perform the same job and that are among
the best averages in the banking sector. At the end
of 2011, the lowest salary on the staff of those working
six hour a day was BRL1,400.00 per month, an
amount that is 2.6 times the national minimum wage
of BRL622.00 per month. The lowest salary for those
working eight hour a day is BRL2,100.00, an amount
equal to 3.9 times the minimum wage.
TURNOVER – TERMINATIONS
Gender
Total
Employees
Terminations Proportion Hires Proportion
Female 425 61 14.4% 91 21.4%
Male 616 114 18.5% 119 19.3%
Total 1,041 175 16.8% 210 20.2%
Age Group
Total
Employees
Terminations Proportion Hires Proportion
16 to 24 100 16 16.0% 36 36.0%
25 to 35 338 67 19.8% 95 28.1%
36 to 45 313 49 15.7% 43 13.7%
46 to 55 252 35 13.9% 34 13.5%
56 + 38 8 21.1% 2 5.3%
Total 1,041 175 16.8% 210 20.2%
By Region
Total
Employees
TURNOVER GRI LA2
The Bank’s turnover rate in 2011 was 16.8%. Throughout
the fiscal year, 175 employees were terminated
and 210 were hired. Hirings took place in every region
of the country. The table below provides details on
turnover.
BICBANCO has a policy of paying terminated employ-
ees two additional types of severance pays as well as
legal obligations, unless they are terminated for just
cause. The first is “Professional Requalification Assistance”,
whose funds are aimed at expanding opportunities
for the worker to find new employment in the market;
the second is an additional indemnity provided with
severance pay, paid according to time served criteria.
Terminations Proportion Hires Proportion
North 10 0 0.0% 10 100,0%
Central West 50 12 24.0% 4 8.0%
Southeast 718 106 14.8% 151 21.0%
Northeast 176 37 21.0% 30 17.0%
South 87 20 23.0% 15 17.2%
Total 1,041 175 16.8% 210 20.2%

TRAINING AND DEVELOPMENT
GRI DMA LA – Training and Education, LA10 and LA11
Training and Education Practices are geared towards
enhancing competencies, finding talent, discussing
corporate matters and providing effective opportunities
for professional growth within the Institution. The
class curriculum offered to all employees includes
training, lectures and workshops, split into two
groups: the first is required training upon hiring and
includes classes in areas that are directly related to
the Bank’s activities, Prevention of Money Laundering
and the Code of Ethics; the second discusses topics
related to management and raising the awareness of
all workers, including on sustainability, information security,
information technology, and others.
The Bank also offers preparatory courses for certification
exams, such as specialized certifications, whether
required or not. In areas serving clients who are qualified
investors, 100% of professionals responsible for
their service hold Financial Market Certification, pursuant
to the self-regulations of the Associação Brasileira
Intangible Assets
das Entidades dos Mercados Financeiros e de Capitais
– Anbima (Brazilian Association of Financial Market and
Capital Entities).
The Bank also supports academic education, creating an
Educational Incentive Program for its workers which pays
for 50% to 80% of course fees. This Program is aimed at
increasing the chances for employees to develop professionally
and personally, while also making it possible for
the Bank to increase the number of workers with postsecondary
education and/or specialized degrees, through
graduate, MBA, masters and English language classes.
At the end of the 2011 fiscal year, 73% of the staff were
college graduates or had some college education and
16% held graduate, masters or doctoral degrees.
In 2011, 160 employees took part in the scholarship
program. BRL1,052 thousand was invested in the entire
training and development course program and in
academic scholarships.
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74 Annual and Sustainability Report 2011
PERFORMANCE ASSESSMENT
GRI LA12 and DMA LA – Training and Education
The individual performance assessment is formalized
for eligible management and upper management
positions, wherein employees are assessed
every six months by their leaders, who are in turn
assessed by their directors. This assessment looks
at fulfillment of targets and competencies, such as
leadership, organizational climate management and
corporate governance.
For professionals working in the commercial area, assessments
are quarterly and are based on quantitati-
In the open space concept,
department layouts have
larger and more expansive
spaces that foster interaction,
coexistence and the
strengthening of activities
developed by teams.
ve performance, which considers business volume,
costs, and productivity grained in the period. For new
employees, specific assessments are given following
a probationary period, with interim assessments are
given for certain positions. These assessments are
conducted by managers, who consider aspects such
as personal, disciplinary, potential and productivity
criteria. During the year, 40% of the employees received
assessments, of which 30% were men and 70%
were women. All new hires also underwent assessment
following their probationary period, regardless
of position or hierarchical level.

BENEFITS GRI DMA LA –Diversity and Equal Opportunity, DMA LA – Oc-
cupational Health and Safety, LA3 and LA8
Aimed at attracting, motivating and retaining its employees,
a range of benefits were developed that are
offered on an equal basis to full time and part time
employees. This complete benefits program not only
includes those rights guaranteed by law, but also
optional health and dental plans (available for dependents,
including those in stable homosexual relationships),
meal vouchers, basic food staples vouchers,
bonus (13th ) basic food staples voucher, night
transportation vouchers, assistance for children with
physical and mental disabilities, funeral assistance,
supplementary social security illness assistance
and illness assistance, financial assistance, housing
stipend, financing for real estate, group life insurance,
higher life and disability insurance than usual for
tellers (based on the nature of this activity, as a guarantee
in the event of death or disability as the result
of a robbery), executive life insurance, educational insurance,
bonus pay, funeral assistance plan, discounts
at pharmaceutical chains (discounted from payroll),
and partnership agreements with language schools,
restaurants, gyms and others. For employees who
work the night shift, the Bank also provides transport
assistance aimed at ensuring employee safety. To retain
employees who use maternity leave, the Bank
offers a six month extension on maternity leave, two
additional half hour breaks or one additional one hour
break for breastfeeding until the child is six months
old, as well as daycare or nanny assistance.
PROFIT SHARING
The Profit Sharing Program implemented by BICBANCO
establishes conditions that go beyond the laws established
in the Convenção Coletiva de Trabalho – CCT
(Collective Labor Convention). This unique and wide-
-ranging Program seeks to recognize employee dedication
and commitment to reaching the strategic goals
and the targets set by the Bank.
Ativos Intangíveis
QUALITY OF LIFE AT WORK
GRI LA8, LA15 and DMA LA – Occupational Health and Safety
To provide a better quality of life at work and keep a
high level of worker satisfaction, it is a principle of the
Bank to offer its workers a peaceful, balanced and healthy
working environment, among other advantages.
In this sense, the move to the new administrative headquarters
in early 2012 represents a qualitative leap. The
new facilities have more ergonomic furnishings and
equipment, designed to offer more comfort and convenience.
Based on the open space concept, department
layouts have larger and more expansive spaces that
foster interaction, coexistence and the strengthening
of activities developed by teams.
Institutional standards prohibit excessive work shifts,
combat all kinds of harassment, guarantee vacation
time, respect the productive capacity of Bank workers
by establishing previously negotiated targets,
and support workers on leave.
In 2011, 27 workers took maternity or paternity leave.
Out of the 11 female workers on leave, 6 returned to
work that same year (55%) and all 16 men on paternity
leave returned as well.
In addition, BICBANCO offers a range of benefits, provides
resources for professional development and training
of its team, and carries out permanent campaigns on
advising, health prevention and improved quality of life.
During the year, activities carried out within this scope
involved the practice of Occupational Exercises and
Musculoskeletal Disorders (MSDs) as well as double
dose vaccination campaigns, including an influenza
antivirus, pre-natal health care campaigns, and campaigns
on preventing occupational illnesses, especially
Repetitive Strain Injuries (RSIs), even though no
Bank employees are involved in occupational activities
with a high rate or risk of specific illnesses.
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76 Annual and Sustainability Report 2011
HEALTH AND SAFETY COMMISSION GRI LA6, LA9, LA8
and DMA LA – Occupational Health and Safety
The Bank’s Comissão Interna de Prevenção de Acidentes
– Cipa (Internal Accident Prevention Commission)
is in charge of the annual Semana Interna de Prevenção
de Acidentes do Trabalho - Sipat (Internal Occupational
Accident Prevention Week) and for coordination
of countless campaigns with support from the human
resources area on raising awareness and encouraging
the adoption of healthy and quality of life practices.
All Bank employees were formally represented by the
CIPA before the Bank in 2011 – a commission present at
every institutional unit. As a practice, BICBANCO works
in line with agreements signed in the collective bargaining
agreement for financial institution workers, which
sets forth standards for issues in the occupational health
and safety area, both regarding rules defined for the
CIPA and in relation to Aids, extension of medical care
plans to terminated employees, a professional rehabilitation
program or parity commissions for discussing the
topic of “Bank Security and Equal Opportunities”.
In 2011, the following campaigns stood out among
these initiatives: “Dr. Spine” distributed manuals with
simple tips on how to maintain spinal health in daily
activities; “Fight Against Tobacco Addiction” included
talks and workshops as well as materials, tips, dependency
tests and information on the topic; “Diet,
Health & Well-Being” was aimed at giving employees
The Bank has programs geared
towards inclusion of young people
in the job market and towards
integration of higher learning
students, to add to their learning
through professional experience.
useful information for their day to day using weekly
publication of articles and reports; and awareness
raised with the “World Aids Day” featured news and
statistics on this illness. Women’s and Men’s Weeks
were also held, with the goal of raising awareness
among women and men regarding health and personal
care issues.
TEEN APPRENTICE PROGRAM
The goal of the Teen Apprentice Program, managed
by the HR area, is to promote inclusion of young
people aged 14 to 24 in the job market, with Instituto
Oboé carrying out the theoretical part through the
Centro de Integração Empresa-Escola (CIEE) and the
Sociedade de Ensino Social Profissionalizante (ES-
PRO). With a weekly hour load of six hours of theoretical
training and 24 hours of practical education at the
facilities of the Bank, this project is two years old and
in 2011 it served a total of 16 young people, assigned
to the Bank’s headquarters and to 9 branches in the
largest states of Brazil.
INTERNSHIP PROGRAM
The Internship Program is geared towards integrating
young students currently enrolled in higher education
programs. This Program recruits and selects students
at universities across Brazil, aimed at adding to their
learning with professional practice, in line with compatibility
with the context of the on-going course and
the local work unit. Furthermore, it prepares young
people for their first job, considering their participation
in real work situations under the responsibility
and coordination of a professional in the area where
the intern is assigned. In 2011, 19 young people who
were graduating took part in the internship program
and 15 (80%) of them were hired.

The new BICBANCO headquarters were
created to suitably accommodate the
Bank’s current structure and allow for
future expansions.
NEW HEADQUARTERS AND TECHNOLOGY
GRI 2.4, EN5, EN7 and EN18
The new BICBANCO headquarters is located in the
Edifício Faria Lima, 4440, a new building that holds
Leadership in Energy and Environmental Design
(LEED) certification, following modern trends in civil
construction, Triple A standard, and uses the latest
technology, with highly efficient consumption of electricity
and water. BICBANCO independently occupies
the first five floors of the 15 story building. The total
area available for BICBANCO is one and a half times
larger than its former facilities on Av. Paulista.
Furnishings used are also new, and tables follow the
concept of continuity, with undivided large tables, which
makes the environment more dynamic and interactive for
teams, in addition to ensuring ergonomics and comfort.
Ativos Intangíveis
The Bank has focused its investments on technology
to advance its infrastructure, with investments
of around BRL7 million, especially for building a new
data center. The project considered the best technologies
in civil construction, electricity and temperature
control, which optimize energy consumption and
were aimed at obtaining Germany’s TÜV Rheinland
certification in 2012, at the Tier III level of excellence.
This certification aligns BICBANCO with the highest
international data center standards. Infrastructure
availability rose to an annual 99.98%. In-Row technology
used for data center racks and the on-going
virtualization of servers and work stations allow for
savings in space, weight and energy. Optimization of
the temperature control system has enabled the Bank
77

78 Annual and Sustainability Report 2011
to set a target to reduce energy consumption at the
data center by 60%. The Bank does not have quantitative
data on energy savings for 2011.
One important move forward also took place when
new unified communications technologies were implemented
and IP telephony was adopted, eliminating
the entire telephone wire infrastructure by unifying
data and voice.
Regarding security, a modern system of monitoring
and preventing fires was installed with clean agent
and environmental particle laser detection technologies,
therefore increasing efficiency in combating fires
or other damage.

In the telecommunications and networks segment,
new corporate IP telephony solutions, a wireless
network and high speed circuits were acquired, which
makes these systems faster.
In addition to investments in the move, the Bank hired
an outside consultant to carry out invasion testing and
has done monthly assessments since then to certify
the integrity of its systems and maintain the standard
of information security adopted by the Bank.
The IT infrastructure update process will continue in
2012 to finalize some stages of verticalization, implement
the new model at Sul Financeira and create
business support tools, such as the new registration
management system and process centralization.
The technological infrastructure available includes
the network convergence program, which allows for
interconnection between all branches with the Main
Data Processing Center and the Contingency Processing
Center.
Ativos Intangíveis
INFORMATION TECHNOLOGY (IT) GOVERNANCE
Because of its strategic importance, the IT area is advised
by a specific multidisciplinary committee comprised
of the IT area executives and director and by employees
from the technology production and development
areas. The Information Technology Steering Committee
is responsible for supporting the current modernization
process and for monitoring and validating all area processes
– from issues connected to service quality to
security, production and strategic planning.
The Committee has total freedom to assess projects,
establish needs, demand results and provide incentives
to teams and interfaces with other areas. To do
this, it has developed a proprietary interaction model,
especially in the business areas, based on joint analysis
of needs and demands, aimed at contributing to
constant improvement of processes.
The Bank established targets and strategic IT planning
for the next four years, involving technological
updating, processes and infrastructure up to executive
succession. It seeks to ensure investments in
technology to maintain an agile and efficient infrastructure
that is compatible with the Institution’s needs
and the growth of business.
Strategic IT planning
for the next four years involves
technological updating,
processes and infrastructure
up to executive succession.
79

80 Annual and Sustainability Report 2011
Sustainability
GRI 1.2, FS1, 4.12, EN26, 4.8 and 4.9

Sustainability
In evolving its governance practices,
the Bank has been promoting constant advances
in adopting sustainable initiatives.
GRI PS1, 4.12, EN26, 4.8 and 4.9
As a financial agent in the economy, BICBANCO is
aware that its commitment surpasses the very responsibilities
of fostering new standards of business
and leveraging sustainable development. When making
decisions, whether in internal management or in
engagement with its interlocutors, the Bank focuses
balancing economic, social and environmental aspects
to guarantee the sustainability of its activities.
In light of these values, since 2006, BICBANCO has
had a Blue Committee, an advisory and instructive
body created by the Board of Directors whose aim
is to stimulate and create mechanisms for integrating
sustainability into the Institution’s management
process and promoting it through incentives for other
stakeholders. To fulfill this objective, the Committee
manages strategies for policies, standards, investments,
training and sustainability programs.
To evolve its governance practices, the Bank has
promoted constant advances in adopting sustainable
initiatives (aligned with the international financial
community’s growing attention to the environment),
accounting to its stakeholders through the Annual
Report and information on its website, notices and
meetings with groups of shareholders.
In line with its commitment to sustainable management
and within the targets it established in 2011, the
Bank has complied with what was defined regarding
the Sustainability Education program and the Ecoefficiency
Program. Moreover, it carried out a Vulnerability
Study of its credit portfolio and an analysis of risks and
opportunities arising from climate changes in order to
continue to enhance its strategy when dealing with
this topic. The Bank maintains these goals, seeking to
extend their scope and internalize their concepts.
In 2011, BICBANCO become a signatory to the principles
of the United Nations Environment Programme
– Finance Initiative (UNEP-FI), a partnership between
the international financial industry and the United
Nations Environment Programme (UNEP). This is a
platform developed for financial institutions geared
towards facilitating identification, promotion and
adoption of the best environmental and sustainability
practices at every operational level.
In 2009, the Bank also became a signatory to the
Green Protocol, drafted by the Federação Brasileira de
Bancos – FEBRABAN (Brazilian Federation of Banks),
an initiative that aims to connect credit given to companies
with a commitment to the principles of social and
environmental responsibility.
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82 Annual and Sustainability Report 2011
In parallel, the Bank is responsible for distributing
lines of credit aimed at companies that work in line
with social and environmental principles, coming
from multilateral agencies, such as the Inter-American
Development Bank (IADB), the International Finance
Corporation (IFC), and the Inter-American Investments
Corporation (IIC), as well as other international
banks. In 2011, this financing totaled BRL749 million
and went to benefit medium and large companies,
equally distributed among various economic sectors.
Social and environmental risk management and policies
are based on Institution values and principles, following
the Bank’s pillars of risk management, which are further
explained in this report in the “Risk management” chapter
under “Social and environmental risks.”
AAA+ RATING IN SUSTAINABILITY
In 2011, BICBANCO was given the highest grade in
sustainability, AAA+, its best performance since the
evaluations began three years ago; it is now part of the
new M&E Latin Finance Sustainability Stars Index (Brazil).
Both are based on studies done by Management &
Excellence. Methodology used for validating its initiatives
aimed at sustainable development consider 553
compliance criteria in 4 aspects (sustainability, strategy,
risk management and quantifiable performance)
and the Company’s ability to balance economic, social
and environmental aspects.
The Bank was given the highest grade
in sustainability (AAA+) by the
Management & Excellence consulting firm.
PREVENTION OF MONEY LAUNDERING,
CORRUPTION AND FINANCING OF TERRORISM
GRI SO2, SO3, SO4, HR3 AND DMA SO – CORRUPTION
Based on current law, the Bank has established clear
and objective policies to minimize the risks for its
products and services to be used in illegal acts, such
as corruption, money laundering and financing of terrorism.
Two Money Laundering and Illegality Prevention
Committees monitor application of these policies;
the first is geared towards operations in Brazil
and the second is dedicated to business at the Cayman
branch.
BICBANCO professionals undergo specific training so
that they have more knowledge with the legal requirements
and role of each person in preventing illegal
practices and respecting human rights, through on-site
courses (lectures and debates) and distance learning
(information via Intranet, videos, self-instructive leaflets
and print material) or external classes (events promoted
by the Bank or by Financial System agencies).
All 183 workers hired by the Bank in 2011 underwent
this training right after going through admissions.
In addition to this training, the Money Laundering and
Illegality Prevention team took part in a total of 225
hours of on-site congresses and courses. In 2011,
the manager of the money laundering prevention
area received “Asociado en Anti Lavado de Dinero”
(AML/CA) certification from the Florida International
Bankers Association (FIBA) institute, at Florida International
University (FIU), which reinforces the Bank’s
engagement and alignment with good international
practices on this subject.
At the year’s end, 100% of employees had been giv-
en training and undergone evaluations to identify the
need for refresher courses. No cases of corruption
were found.

ECOEFFICIENCY PROGRAM
GRI EN11, FS4, FS5, HR1, HR2, EN1, EN2, EN3, EN4, EN7, EN22, EN8, EN12,
EN21, DMA EN – MATERIAIS, DMA EN – ENERGIA, DMA EN – ÁGUA, DMA EN
– BIODIvERSIDADE E DMA EN – EMISSõES, EFLUENTES E GERAçãO DE LIxO
With the goal of enhancing its processes, practices and
policies every year, BICBANCO implemented the Ecoefficiency
Program, which defines procedures to be adopted
to manage the direct and indirect impacts of its activities,
whether in internal administration or in the value chain.
Pursuant to good market practices, the Program is based
on the 3 Rs principle: Recycle, Reduce and Reuse.
The Program’s goal is to optimize resources and to promote
conscious consumption through initiatives that
enable: savings of water, energy and materials; appropriate
disposal and discarding of solid waste (printer
cartridges, fluorescent light bulbs, IT equipment, etc.);
and reduction of transportation in Institution services.
To cut energy consumption, measures were adopted
such as: acquiring LCD monitors, installing sensors/
timers and a collective cleaning routine, optimizing
light use on only those floors that are being cleaned.
Sustainability
The Program also provides for sustainable procurement
which, among other actions, requires selection
of socially and environmentally responsible suppliers,
prioritization of local suppliers and strict analysis of
material orders to prevent unnecessary inventory.
The internal policy for contracting service providers
establishes guidelines for all Bank areas and subsidiaries,
including the need to fill out a Declaration of
Sustainability, available at the BICBANCO website:
www.bicbanco.com.br. There are also policies for
payments, duties and obligations with sustainability
clauses and ethical commitments in contracting and
administrative services. In 2011, 184 suppliers, 58%
of contractors, underwent social and environmental
assessments which included requirements related
to human rights; no cases of non-compliance were
found. Contracting of significant suppliers does not
pose a risk of violating human rights.
As a premise, the Bank uses FSC certified paper; 97.7% of total paper used comes from recycled sources.
In 2011, 48.2 tons of paper were used for printing; of this total, 25% was recycled.
Consumption
of printing
paper:
47.1
tons
Reciclato
(100% recycled)
A4 Sulphite Paper
1.1
tons
White
A4 Sulphite Paper
83

84 Annual and Sustainability Report 2011
Best use in water consumption is also considered
through installation of equipment that provides savings.
The entire network of bank branches and the
central administration capture and dispose of water
using local basic sanitation companies.
Another Bank action seeks to conserve biodiversity.
Although it does not produce direct impacts or have
operational units inside of protected areas, the Institution
has property in the city of Campos do Jordão (São
Paulo State) and at Boraceia (São Paulo State) beach
where regular control of original plant conservation is
done. Indirect impacts on biodiversity are managed
through assessments and compliance with specific criteria
in selecting suppliers, as described in this chapter.
GREENHOUSE GAS (GHG) EMISSIONS GRI EN16, EN17, EN18, EN19, EN3, EN4, EN7 AND DMA EN – EMISSIONS, EFFLUENTS AND WASTE
For the financial industry, global warming is embedded with challenges, such as strict control of risks, as well as with
opportunities related to new products and niches of operation (financing for clean energy products, for instance).
The Bank measures its Greenhouse Gas (GHG) emissions coming directly and indirectly from energy and fuel consumption,
according to Brazilian GHG Protocol Program methodology.
DISTINCT EMISSIONS DATA FOR ALL GHG
In Metric Tons In Metric Tons of CO 2 – Equivalent (tCO 2 e)
GHG Scope 1 Scope 2 Scope 3 Scope 1 Scope 2 Scope 3
CO 2 718.39 96.49 622.27 718.39 96.49 622.27
CH 4 0.01 0.00 0.27 0.11 0.00 5.76
N 2 O 0.02 0.00 0.04 6.36 0.00 11.63
Total 724.86 96.49 639.67
For the financial industry, global warming is embedded with
challenges, such as strict control of risks, as well as with
opportunities related to new products and niches of operation

At BICBANCO, the following sources are considered,
by scope:
Scope 1
- Direct emissions from mobile sources
- Direct emissions from stationary sources
- Fugitive emissions from cooling and air conditioning
equipment
Scope 2
- Indirect emissions from the purchase of electricity
Scope 3
- Indirect emissions from mobile sources
- Air travel
- Highway and air transport of cargo
Sustainability
Calculations considered consumption of 321 thousand
liters of fuel by the Bank’s own plane and 150
thousand liters of gas used by employees’ cars from
their homes to the company, which accounts for a total
of 14,073 GJ of energy coming from non-renewable
sources and 794 GJ from renewable sources,
considering the ethanol mix in Brazilian gasoline.
BICBANCO has adopted the practice of holding videoconference
meetings among its offices and branches.
This initiative contributes to cutting back on air travel
and, as a result, reduces greenhouse gas emissions.
In 2011, 714 trips, corresponding to 105.5 metric tons
of CO e were avoided.
2
85

86 Annual and Sustainability Report 2011
The air conditioning system in the BICBANCO offices
and branches was conceptualized to meet the technical
comfort requirements of the people occupying the
facilities and includes climate control devices, which
operate on conventional R22 cycles, with typical
10 TR capacities, consuming 130 kg of coolant in 2011.
Because of this, BICBANCO does not emit significant
amounts of substances that destroy the ozone layer
in the development of its activities.
It is not possible to precisely determine the origin of
indirect electrical energy used by BICBANCO in 2011,
since the energy distribution system in Brazil is interconnected.
However, based on energy generation
information supplied by the Operador Nacional do
Sistema Elétrico – ONS (National Electrical System
Operator), it is possible to estimate that 11,898 GJ of
energy was consumed, of which 10,893 GJ came from
renewable sources and 1,003 GJ came from non-renewable
sources, based on country standards.
EDUCATION FOR SUSTAINABILITY GRI FS4 and FS5
In parallel with the Ecoefficiency Program, the Education
for Sustainability Program was launched to raise
awareness among employees and other stakeholders
on the importance of integrating sustainability principles
into personnel and Institution routines. To do
this, the Program seeks to develop know-how and
competencies that foster sustainable development
through campaigns or awareness raising activities on
the topic, training on the concepts of sustainability
and principles for its management for all employees.
This Program is supported by the following initiatives:
1. Monthly initiatives or campaigns raising awareness
on the topic;
2. Training on sustainability concepts and principles
for its management geared towards all employees,
on integration;
3. Specific annual training for strategic areas and/or
jobs that directly impact the Bank’s sustainable development;
4. Regular educational activities aimed at external
stakeholders.
SOCIAL AND ENVIRONMENTAL ASSESSMENT
GRI HR1, HR2, HR5, HR6, HR7, HR9, HR10, SO9, SO10, FS1, FS2, FS3, FS12, FS10,
EC9, DMA HR – Assessment, EN26, DMA HR – Investment and Procurement Practices,
DMA HR – Child Labor, DMA HR – Forced and Compulsory Labor, DMA HR –
Indigenous Rights, DMA EN – Products and Services and DMA HR – Remediation
In conceptualizing and managing products and services,
BICBANCO assesses social and environmental
variables using proprietary tools and methodologies
that are frequently updated and improved.
The Management System for Sustainable Development,
through its Procedures Manuals, defines practices
for daily execution and annual monitoring of social
and environmental risks and contains a restrictive
list for operating in certain industries or branches of
activities. The Blue Committee, which is the same as
a Sustainability Committee, is in charge of special assessment
of operations within these dominions. The
manuals also cover bases for conducting the assessment
and classification of the social and environmental
risks of clients and suppliers.

This system is also responsible for covering client values
and practices insofar as sustainability is concerned and,
to do this, all clients are asked to fill out the Declaration
of Sustainability (www.bicbanco.com.br/ir > Sustainability
> Declaration of Sustainability). This document
discusses topics on the environment, society, corporate
ethics and sustainable initiatives, in addition to specific
issues for industries with relevant potential for social
and environmental impact, due to the nature of their
activities, such as: sugar and ethanol, agribusiness, construction
and engineering, generation and distribution
of electricity, foodstuffs, metalworks, meat processing,
health, commercial services and transport/logistics.
BICBANCO classifies its clients based on social and environmental
risks, giving them a social and environmental
rating based on social and environmental compliance
reports drafted by an independent company. The compliance
reports include a scan of various government
agencies to find any likely actions, inconsistencies or environmental
fines and/or fines related to human rights.
This tool provides regular monitoring of clients and
operations with which the Bank is involved and has
become an important instrument in interactions with
clients regarding social and environmental matters,
while also serving to back credit decision making,
since it provides important qualitative and quantitative
details on management of performance indicators
and compliance with legal and regulatory provisions.
There are three classifications in the rating:
Risk A – clients likely to present significant and irreversible
social and environmental impacts;
Risk B – clients with potential for causing social and
environmental impacts;
Risk C – clients likely to present minimal or no social
and environmental impact.
Sustainability
In December 2011, of the 5,226 (corporate) clients in
the Bank’s active portfolio, 59% were already registered
in internal systems with a social and environmental
rating. The target for 2012 is to continue to
identify the social and environmental ratings of the
clients in this portfolio and classify all clients with a
risk greater than BRL1 MM by the end of 2012.
In processes for granting credit amounts of over BRL18
million, social and environmental responsibility reports
are created using questionnaires that discuss the social
and environmental awareness at the companies as
well as topics such as social and environmental management
and policy, legal compliance, relations with
society, human rights, employment and labor practices,
supplier relations and statements (annual report,
social balance sheet and added value statement).
The Management System for Sustainable Development
also features parameter controls to minimize
this risk that are able to identify, automatically generate
a warning and prevent relationships from beginning
or continuing with clients or suppliers involved
in social and environmental crimes and with child
or forced and compulsory labor. These controls also
monitor all existing registrations as well as renewals,
business proposals, applications or investments and
the supplier portfolio. In 2011, 14 cases of business
with involvement on the list of Child and Forced and
Compulsory Labor (TEI, its acronym in Portuguese),
published by the Ministry of Labor and Employment
were analyzed and 2 relationships were ended.
The Bank is not at risk of using child or forced and
compulsory labor on its staff of employees and subcontractors
and it maintains a policy of not granting
credit to companies or maintain relationships with
suppliers who are evidently involved with practicing
environmental crimes or with the use of child or
forced and compulsory labor. One-hundred percent
of Bank contracts include social and environmental
clauses that ensure compliance with these principles.
87

88 Annual and Sustainability Report 2011
These parameters allow for determination of any
warnings, restrictions or impediments for clients.
Cases found to be of high risk are submitted to the
Blue Committee and to the Governance Committee
for deliberation regarding the condition and/or continuity
of the relationship. The Blue Committee looked at
22 processes during the year and decided to approve
100% of the cases – some under special monitoring.
Classification of controls related to frequency and tools is in accordance with the following criteria:
Identification Method Frequency
Child or forced and
compulsory labor
Social and
environmental
irregularity
Sings of social
and environmental
crimes in the media
Client statement
of sustainability
Major social and
environmental
impacts for clients
whose credit
operations are
over BRL18 MM
Scan the client base
according to the basis
of exclusion
Scan using the
compliance report
Upon opening the
account and monthly
Upon opening the
account and at each
registration renewal
Scan media At any time
Social and
environmental
questionnaire
Social Responsibility
Report and
Environmental
Responsibility Report
Upon opening the
account and at each
registration renewal
At any time
In the social and environmental management process,
no cases were found to violate indigenous rights. Also
the Bank carried out social and environmental analyses
of 100% of clients who use resources from multilateral
agencies. There is no specific voting policy for
social or environmental issues; however, guidelines
for these decisions are based on the Code of Ethics,
sustainability policies and prevention of illegal acts.
Duration of Restriction
on Operations
Upon opening:
total prohibition
Upon sweeping:
as long as the
relationship lasts
“A” ratings are restricted
to those with international
funding – indefinitely
For other cases, until
clarifications are made
Until clarifications
are found
Depends on the decision
of the Blue Committee
and the Governance
Committee
Depends on the decision
of the Blue Committee
and the Governance
Committee
Procedure for Active
Client Cases Identified
Submit to the Blue
Committee and
Governance Committee
for cases where there is
already a relationship
Submit to the Blue
Committee and
Governance Committee
for cases where there is
already a relationship
Submit to the Blue
Committee and
Governance Committee
for cases where there is
already a relationship
Submit to the Blue
Committee and
Governance Committee
for cases where there is
already a relationship
Submit to the Blue
Committee and
Governance Committee
for cases where there is
already a relationship

RESPONSIBLE CREDIT
GRI FS4, FS5, FS7, EC9 E DMA PS – PRODUCT PORTFOLIO
In performing its duties as a financial agent,
BICBANCO has products geared towards the sustainable
growth of Brazil, such as the Programa de
Subsídio à Habitação de Interesse Social – PSH
(Social Housing Program) and the Programa Minha
Casa, Minha Vida – PMCMV (My House, My Life
Program), created by the Ministry of Urban Development.
These products consist of credit lines
aimed at subsidizing acquisition of housing for lowincome
citizens, with the goal of serving social programs
to fight the housing deficit.
With Ministry accreditation, the Bank takes part in
these initiatives through annual calls for bid and is responsible
for managing disbursement of funds for the
My House, My Life Program to companies contracted
by the beneficiaries. In total, BRL10,319,909.48 was
disbursed in 2011 to responsible PSH agents, with
another BRL34,388,561.54 disbursed to companies
connected with PMCMV; these amounts respectively
Sustainability
account for 23% and 77% of the total disbursement
portfolio through the Secretary of Housing at the Ministry
of Urban Development.
The Bank also maintains another special line of credit
called the Mútuo SUS (Unified Healthcare System
Mutual Fund). The program provides direct collaboration
to strengthen citizenship and increase initiatives
in the area of health through credit operations
pegged to receivables for service providers in the
Sistema Única de Saúde - SUS (Unified Healthcare
System). With this, hospitals as well as in-patient and
out-patient clinics can benefit from an advance on
their revenues to manage their budgets and offer better
service to the populace. With the consignment of
monthly disbursement to the Ministry of Health and
the Sistema Única de Saúde - SUS (Unified Healthcare
System), transactions for this line of credit were at
BRL214,719.19 in 2011, an amount that corresponds
to 1.15% of the Bank’s mutual operations portfolio.
Note: For the months of January to March 2011, calculations considered the average for the remaining months of the year.
89

90 Annual and Sustainability Report 2011
IBASE + NBCT 15
1 – Basis of calculation 2011 – Test – BRL thousands 2010 – BRL thousands
Net Revenue (NR) 806,467 918,829
Operating Income (OI) 271,688 513,729
Gross Payroll (GP) 195,892 158,161
Total Added Value (TAV) 586,290
2 – Internal social indicators % over GP
% over
NR
% over
TAV
BRL
thousands
Meals 10,065 5.14 1.25 1.72 7,978 5.04 0.87
Compulsory social charges 41,951 21.42 5.20 7.16 35,300 22.32 3.84
Private pension - - - - 0 0.00 0.00
Health 5,646 2.88 0.70 0.96 4,618 2.92 0.50
Occupational health and safety - - - - 0 0.00 0.00
Education 540 0.28 0.07 0.09 247 0.16 0.03
Culture - - - - 0 0.00 0.00
Professional training and development 512 0.26 0.06 0.09 539 0.34 0.06
Daycare or daycare assistance 443 0.23 0.05 0.08 339 0.21 0.04
Sports - - - -
Profit sharing 42,094 21.49 5.22 7.18 28,770 18.19 3.13
Transport 617 0.31 0.08 0.11
Others 399 0.20 0.05 0.07 833 0.53 0.09
Total – Internal social indicators 102,267 52.21 12.68 17.44 78,624 49.71 8.56
3 – External social indicators % over OI % over NR % over TAV
BRL
thousands
% over
GP
% over
NR
% over
TAV
% over OI % over NR % over TAV
Education 68 0.03 0.01 0.01 285 0.06 0.03
Culture 2,066 0.76 0.26 0.35 3,554 0.69 0.39
Health and sanitation 0 0.00 0.00 0.00 0 0.00 0.00
Sports 528 0.19 0.07 0.09 805 0.16 0.09
Combat against hunger and food security 0 0.00 0.00 0.00 0 0.00 0.00
Industry indicator 0 0.00 0.00 0.00
Others 602 0.22 0.07 0.10 715 0.14 0.08
Total contributions to society 3,264 1.20 0.40 0.56 5,359 0.14 0.08
Taxes (excluding social charges) 137,114 50.47 17.0 0 23.39
Total – External social indicators 140,378 51.67 17.41 23.94 5,359 1.04 0.58

Sustainability
4 – Environmental indicators % over OI % over NR % over TAV
4.1 – Investments related to production/operation of the company
Expropriation of land 0 0.00 0.00 0.00
Environmental contingencies and liabilities 0 0.00 0.00 0.00
Technological and industrial development program 0 0.00 0.00 0.00
Energy conservation 0 0.00 0.00 0.00
Environmental education 0 0.00 0.00 0.00
Industry indicator 0 0.00 0.00 0.00
Others 0 0.00 0.00 0.00
Distribution of investments in the environment % over total
Total investments in environmental prevention initiatives 0
Total investments in environmental maintenance initiatives 0
Total investments in environmental off-set initiatives 0
Number of environmental, administrative and judicial processes
filed against the organization:
Worth of fines and indemnities related to environmental
matters determined administratively and/or judicially:
Regarding establishment of annual targets for minimizing
waste, general consumption in production/operation and
increased efficacy in using natural resources, the company:
in BRL
thousands
0 0
0 0
(x) has no targets ( ) meets 0% to 50%
( ) meets 51% to 75%
( ) meets 76% to 100%
BRL
thousands
% over OI % over NR % over TAV
Total investments related to production/operation of the company 0 0.00 0.00 0.00 0 0.00 0.00
4.2 – Investments in external projects and/or programs
Environmental education projects in the community 0 0.00 0.00 0.00
Preservation and/or recovery of degraded environments 0 0.00 0.00 0.00
Others 0 0.00 0.00 0.00
Total investments in external projects and/or programs 0 0.00 0.00 0.00 7 0.00 0.00
Total investments in the environment (4.1 + 4.2) 0 0.00 0.00 0.00 7 0.00 0.00
% over total
(x) has no targets ( ) meets 0% to 50%
( ) meets 51% to 75%
( ) meets 76% to 100%
91

92 Annual and Sustainability Report 2011
5 – Workforce Indicators 2010 IN UNITS
Number of employees at the end of the period 1,041 1,018
Number of admissions during the period 210 389
Number of terminations during the period 175 164
Number of third-party employees 176 154
Number of interns 19 25
Number of employees over 45 years of age 314 282
Number of employees by age group:
Under 18 1
From 18 to 35 437
From 36 to 45 313
From 46 to 60 271
Over 60 19
Number of employees by educational level: -
Illiterate 0
Primary school 2
Secondary/technical school 308
Higher learning 561
Graduate studies 170
Number of women working at the company 425 395
% of supervisory positions occupied by women 28 27
Number of men working at the company 616 623
% of supervisory positions occupied by men 72 73
Number of Afro-Brazilian people working at the company 142 123
% of supervisory positions
occupied by Afro-Brazilian people
6 9
Number of disabled or special needs people 37 27
Gross pay segregated by: -
Employees 124,353,087
Administrators 9,877,822
Difference between the lowest salary paid by the company and
the minimum wage (national or regional)
2.6%
Source RM LABORE
6 – Relevant Information regarding the exercise of
corporate citizenship
2011 2010
Ratio between the highest and lowest pay at the company 14.65 15.05
Total number of occupational accidents 1 1
Social and environmental projects developed
( ) directors (x) directors and managers
( ) directors (x) directors and managers
by the company were defined by:
( ) all employees
( ) all employees
Safety and health standards in the workplace were defined by:
Regarding freedom to join a union, the right to collective
bargaining and internal representation of workers, the company:
Private pension covers:
Profit sharing includes:
In selecting suppliers, the same standards of ethics and social
and environmental responsibility adopted by the company:
Regarding employee participation in volunteer work programs,
the company:
( ) directors and managers ( ) all employees
(x) all + CIPA
( ) does not get involved ( ) follows ILO standards
(x) encourages and follows ILO
( ) directors (x) directors and managers
( ) all employees
( ) directors ( ) directors and managers
(x) all employees
( ) are not considered ( ) are suggested
(x) are required
( ) does not get involved (x) is supportive
( ) organizes and encourages
(x) directors and managers
( ) all employees ( ) all + CIPA
( ) does not get involved (x) follows ILO standards
( ) encourages and follows ILO
( ) directors ( ) directors and managers
( ) all employees
( ) directors ( ) directors and managers
(x) all employees
( ) are not considered ( ) are suggested
(x) are required
( ) does not get involved (x) is supportive
( ) organizes and encourages

7 – Relevant Information regarding the
exercise of corporate citizenship
Total number of complaints and criticisms from consumers:
Total number of complaints and criticisms from consumers:
Amount of fines and indemnities paid to customers, stipulated
by consumer defense and protection agencies or by the Courts:
Actions undertaken by the organization to resolve or minimize
causes of complaints:
Number of labor lawsuits:
Filed against the organization 46
8 – Other information
With the
company
Sustainability
With Procon –
consumer defense
agency
2011 2010
Internal record of annual
complaints/criticisms = 104
With the
company
With Procon
– consumer
defense agency
In the Courts In the Courts 426
With the
company
With Procon –
consumer defense
agency
Record of service/solution/
complaints/criticisms = 100%
With the
company
With Procon
– consumer
defense agency
In the Courts In the Courts 13
With Procon –
consumer defense
agency
BRL14,609.21
With Procon
– consumer
defense agency
Brazilian Corporate Taxpayer ID (CNPJ) – 07.450.604/0001-89 ECONOMIC SECTOR – Bank State – São Paulo
“This company does not use child or forced and compulsory labor, it is not involved with prostitution or sexual exploitation of children or teens and it is not
involved in corruption”;
“Our company values and respects internal and external diversity”.
Ratio between the highest and lowest pay: the absolute result from dividing the highest pay by the lowest.
Total number of occupational accidents: all occupational accidents on record for the year.
Standards: pursuant to Conventions nos. 87, 98, 135 and 154 of the International Labour Organisation (ILO) and items in the Social Accountability 8000 (SA 8000) standard.
As of 2011, BICBANCO reports the Ibase in conjunction with the NBCT15; because of this, the table was revised to include new fields to comply with
these two guidelines.
83
133
100
73
BRL0.00
In the Courts BRL11,243,020.50 In the Courts BRL10,612,645.89
Upheld 42 23
Denied 32 10
Total amount of indemnities and fines
paid by Court order:
Total added value to be distributed
(in thousands of BRL):
BRL3,044,519.59
2010
586,290 775,222
Distribution of Added Value in thousands of BRL % over total in thousands of BRL % over total
Number of employees at the end of the period 141,249 24 263,576 34
Number of admissions during the period 191,642 33 147,292 19
Number of terminations during the period 109,000 19 131,788 17
Number of third-party employees 20,996 4 15,504 2
Number of interns 123,403 21 217,062 28
93

94 Annual and Sustainability Report 2011
Statement
GRI Applicaion Level Check
GRI hereby states that Banco Industrial e Comercial S.A. (BICBANCO) has presented its report “2011
Annual and Sustainability Report” to GRI’s Report Services which have concluded that the report fulills
the requirement of Applicaion Level B+.
GRI Applicaion Levels communicate the extent to which the content of the G3.1 Guidelines has been
used in the submited sustainability reporing. The Check conirms that the required set and number of
disclosures for that Applicaion Level have been addressed in the reporing and that the GRI
Content Index demonstrates a valid representaion of the required disclosures, as described in the GRI
G3.1 Guidelines.
Applicaion Levels do not provide an opinion on the sustainability performance of the reporter nor the
quality of the informaion in the report.
Amsterdam, 27 June 2012
Nelmara Arbex
Deputy Chief Execuive
Global Reporing Iniiaive
The “+” has been added to this Applicaion Level because Banco Industrial e Comercial S.A. (BICBANCO)
has submited (part of) this report for external assurance. GRI accepts the reporter’s own criteria for
choosing the relevant assurance provider.
The Global Reporing Iniiaive (GRI) is a network-based organizaion that has pioneered the development of the world’s most widely used
sustainability reporing framework and is commited to its coninuous improvement and applicaion worldwide. The GRI Guidelines set out
the principles and indicators that organizaions can use to measure and report their economic, environmental, and social performance.
www.globalreporing.org
Disclaimer: Where the relevant sustainability reporing includes external links, including to audio visual material, this statement only concerns
material submited to GRI at the ime of the Check on 19 June 2012. GRI explicitly excludes the statement being applied to any later
changes to such material.

GRI Index
Sustainability
Themes and Indicators Chapter Status Page
Profile
Strategy and Analysis
1.1
Statement of the holder of the most decision-making
power at the organization (such as the CEO,
chairman of the Board of Directors or equal position)
regarding the relevance of sustainability to the
organization and its strategy
1.2 Description of key impacts, risks and opportunities
Organizational Profile
Letter from the CEO Fully 10 and 11
Risk Management Chapter – Social
and Environmental Risk item
Sustainability Chapter
Fully
34, 35
and 80-89
2.1 Name of organization Profile Chapter Fully 6
2.2 Main brands, products and/or services Introduction Chapter Fully 2
2.3
Operational structure of the organization, including
main divisions, operational units, subsidiaries,
and joint ventures
2.4 Location of organization’s headquarters
2.5
Number of countries in which the organization
operates and name of countries where its main
operations are located or are especially relevant to
the issues of sustainability covered by the report
Profile and Corporate
Governance Chapters
Profile Chapter
Intangible Assets Chapter – New
Headquarters and Technology item
Fully 6 and 12-23
Fully 6 and 77-79
Profile Chapter Fully 6
2.6 Legal type and nature of property Profile Chapter Fully 6
2.7
Markets served (including details on geography, sectors
served, and types of customers/beneficiaries)
Profile Chapter Fully 6
2.8 Size of organization Profile Chapter Fully 6
2.9
THIS REPORT USES APPLICATION LEVEL B+
Report Content
GRI 3.12
Level of Report Application
G3 Profile
Information on the
G3 Management
Approach
G3 Performance
Indicators for
the Industry
Supplement
Respond to items:
1.1;
2.1 to 2.10;
3.1 to 3.8, 3.10 to 3.12;
4.1 to 4.4, 4.14 to 4.15.
Not Required.
Main changes during the period covered by the report
regarding the size, structure, or stockowner shares
Result
Result
Result
C C + B B + A A +
Respond to at least 10 Performance
Indicators, including at least one of
each of the following areas: Social,
Economic and Environmental.
Introduction Chapter Fully 2
2.10 Awards received in the period covered by the report Highlights Fully 4 and 5
With External Verification
Respond to all of the criteria
listed for Level C plus:
1.2;
3.9 and 3.13;
4.5 to 4.13, 4.16 to 4.17.
Information on the Management
Approach for each Indicator
Category.
Respond to at least 20 Performance
Indicators, including at least one of
each of the following areas: Economic,
Environmental, Human Rights,
Labor Practices, Society and Product
Responsibility.
With Report External Externally Verification Assure d
The same required for Level B.
Management Approach reported
for each Indicator Category.
Respond to each essential
G3 Indicator and the Industry
Supplement* with due consideration
of the Principle of Materiality in one of
the following forms:
(a) responding to the Indicator, or
(b) explaining the reason for omission.
With Report External Externally Verification Assure d
*Latest version of the Sector Supplement.
95

96 Annual and Sustainability Report 2011
Report Parameters
Report Profile
3.1
Period covered by the report (such as fiscal/civil year)
for information provided
Introduction Chapter Fully 2
3.2 Date of the most recent last report (if applicable) Introduction Chapter Fully 2
3.3 Issuance cycle of reports (annual, bi-annual, etc.) Introduction Chapter Fully 2
3.4
Contact data for asking questions about
the report or its content
Credits Fully 112
Themes and Indicators Chapter Status Page
Profile
Report Scope and Limits
3.5
3.6
3.7
3.8
3.9
3.10
3.11
Process for defining the content of the report, including:
a) determining materiality;
b) prioritizing topics within this report;
c) identifying which stakeholders the organization
expects to use the report.
Limit of report (such as countries, divisions, subsidiaries,
leased facilities, joint ventures, suppliers)
Statement on any specific limitations regarding
the scope or limit of the report
Basis for drafting the report regarding joint ventures,
subsidiaries, leased facilities, third-party operations,
and other organizations that may significantly affect
the period to period or organization to organization
comparison
Techniques for measuring data and bases for calculations,
including hypotheses and techniques which support
estimates applied to compiling indicators and other
information in the report
Explanation of the consequences of any reformulation of
information provided in previous reports and the reasons
for this reformulation (such as mergers or acquisitions,
change in the baseline period or year, change in the nature
of the business and change in measurement methods)
Significant changes compared to previous
years regarding scope, limit, or methods of
measurement applied in the report
BICBANCO published this report
for the stakeholders mentioned in
indicators 4.14 and 4.15 and prioritized
the topics mentioned by more than one
stakeholder.
Stakeholders’ Relations Chapter –
Service Posts item
Introduction and Corporate
Governance Chapter
Fully 51-53
Fully
2 and
12-23
Introduction Chapter Fully 2
Introduction Chapter Fully 2
Introduction Chapter Fully 2
Introduction Chapter Fully 2
Introduction Chapter Fully 2
3.12 Table identifying location of information in the report GRI Index 95-109
3.13
Policy and current practice regarding looking
for outside verification of this report
Introduction Chapter Fully 2

Sustainability
Governance, Commitments and Engagement Chapter Status Page
Governance
4.1
4.2
4.3
4.4
4.5
4.6
4.7
4.8
4.9
4.10
Organization’s governance structure, including
committees under the highest governance body
responsible for specific tasks, such as establishing
strategy or supervising the organization
Indication if the head of the highest governance body
is also an executive officer (and, if this is the case,
this person’s duties within the administration of the
organization and the reasons for this situation)
For organizations with a unitary administration
structure, statement of the number of
independent or non-executive members
of the highest governance body
Mechanisms for shareholders and employees
to make recommendations or provide advice
to the highest governance body
Ratio between the remuneration for the members
of the highest governance body, executive board,
and other executives (including severance packages)
and organization performance (including social and
environmental performance)
Effective processes within the highest governance
body to ensure avoidance of conflicts of interest
Process for determining qualifications and information
on members of the highest governance body to
define the organization’s strategy on issues related to
economic, environmental and social topics
Statements of mission and values, codes of conduct,
and internal principles relevant to economic,
environmental and social performance, as
well as their stage of implementation
Procedures used by the highest governance body
to supervise identification and management by the
organization of economic, environmental and social
performance, including relevant risks and opportunities
as well as adhesion and compliance with internationally
agreed to standards, codes of conduct and principles
Processes for self-assessment of performance of
the highest governance body, especially regarding
economic, environmental and social performance
Corporate Governance
Chapter – Organizational Structure
of Committees item
Corporate Governance Chapter –
Governance and Board of Directors item
Corporate Governance Chapter –
Governance and Board of Directors item
Opening Corporate Governance Chapter
and Shareholder Meetings item
Stakeholders Relations Chapter –
Communication item
Opening Corporate Governance Chapter
– Administrative Remuneration item
Corporate Governance Chapter –
Commitment to Best Practices item
Corporate Governance Chapter –
Board of Directors item
Corporate Governance Chapter –
Commitment to Best Practices item
Profile – Mission, Vision
and Values Chapter
Risk Management Chapter
Sustainability Chapter
Fully 15-16
Fully 14
Fully 14
Fully
Fully
12, 23,
51-53
and 56-59
12 and 22
Fully 12-14
Fully 12-14
Fully
Governance and Sustainability Chapters Fully
Corporate Governance Chapter –
Board of Directors item
7, 13-14,
24-35,
and 80-82
12-23
and 80-89
Fully 14
97

98 Annual and Sustainability Report 2011
Themes and Indicators Chapter Status Page
Commitment to External Initiatives
4.11
4.12
4.13
Explanation of how the organization applies the
precautionary principle
Letters, principles or other initiatives developed externally
that are of an economic, environmental and social nature
and which the organization undersign or endorses
Participation in associations (such as industrial
federations) and/or national/international defense
bodies on which the organization:
a) has a seat in groups responsible for corporate
governance;
b) is part of projects and committees;
c) contributes to with major resources exceeding
the basic fee as a member organization;
d) considers strategic to its action as a member.
Stakeholders’ Engagement
4.14 List of stakeholder groups engaged by the organization
4.15
4.16
4.17
DMA EC
Basis for identifying and selecting stakeholders with
whom to engage
Approaches to stakeholder engagement, including
frequency of engagement by type and by stakeholder
group
Main themes and concerns that were raised through
engagement of stakeholders and measures that the
organization has adopted to deal with them
Economic Performance
Market Presence
Indirect Economic Impacts
Risk Management Chapter –
Business Continuity Plan item
Fully 29-30
Opening Sustainability Chapter Fully 80-82
Stakeholder Relations Chapter –
Institutional Participations item
Stakeholder Relations Chapter –
Engagement item
Stakeholder Relations Chapter –
Engagement item
Stakeholder Relations Chapter –
Engagement item
Stakeholder Relations Chapter –
Engagement item
Profile
Corporate Governance Chapter
Economic Scenario and Performance
Chapter
Profile
Corporate Governance Chapter –
Holdings and Controlled
Companies items
Risk Management Chapter –
Social and Environmental Risk item
Fully 63
Fully 51-53
Fully 51-53
Fully 51-53
Fully 51-53
Chapter Status Page
Fully
6, 12-23
and 36-49
Fully 6 and18-20
Fully 34-35

Sustainability
DMA EN Capitulo Status Página
Materials
Energy
Water
Biodiversity
Emissions, Effluents and Waste
Products and Services
Compliance
Transport
Overall
Sustainability Chapter –
Ecoeficiency Program item
Sustainability Chapter –
Ecoeficiency Program item
Sustainability Chapter –
Ecoeficiency Program item
Sustainability Chapter –
Ecoeficiency Program item
Sustainability Chapter – Ecoeficiency
Program and GHG Emissions items
Sustainability Chapter – Social and
Environmental Assessment item
Immaterial. The Bank does
not manage this aspect.
Immaterial. The Bank does
not manage this aspect.
Immaterial. The Bank does
not manage this aspect.
Fully 83-84
Fully 83-84
Partial 83-84
Partial 83-84
Fully 83-86
Fully 86-88
DMA LA Chapter Status Page
Employment Intangible Assets Chapter Fully 64-76
Labor/Management Relations
Occupational Health and Safety
Training and Education
Diversity and Equal Opportunity
Equal Remuneration for Women and Men
Intangible Assets Chapter – Human Resources
and International Certification items
Intangible Assets Chapter – Human Resources,
Quality of Life at Work and Health and Safety
Commission items
Intangible Assets – Human Resources,
Training and Development and
Performance Evaluation items
Intangible Assets Chapter – Human Resources,
Inclusion of People with Disabilities, Diversity
Map and Benefits items
Intangible Assets Chapter – Human
Resources and Remuneration items
Fully
Fully
Fully
Fully 66
Fully
Fully
Fully
Fully
66, 75
and 76
66, 73
and 74
66-71
and 75
66
and 72
99

100 Annual and Sustainability Report 2011
DMA HR Chapter Status Page
Investment and Procurement Practices
Non-Discrimination
Freedom of Association and Collective Bargaining
Child Labor
Forced and Compulsory Labor
Indigenous Rights
Assessment
Remediation
Risk Management Chapter – Social and
Environmental Risk item
Sustainability Chapter – Social and
Environmental item
Stakeholder Relations Chapter
Intangible Assets Chapter – Human Resources item
Risk Management Chapter – Social
and Environmental Risk item
Stakeholder Relations Chapter – Union Relations item
Risk Management Chapter – Social and
Environmental Risk item
Sustainability Chapter – Social and
Environmental item
Risk Management Chapter – Social
and Environmental Risk item
Sustainability Chapter – Social and Environmental item
Risk Management Chapter – Social
and Environmental Risk item
Sustainability Chapter – Social and Environmental item
Sustainability Chapter – Social and
Environmental Assessment item
Sustainability Chapter – Social and
Environmental Assessment item
Fully
Fully
Fully
Fully
Fully
Fully
34, 35 and
86-88
50-63
and 66
34, 35
and 63
34, 35 and
86-88
34, 35 and
86-88
34, 35 and
86-88
Fully 86-88
Fully 86-88
DMA SO Capitulo Status Página
Local Communities
Corruption
Public Policies
Anti-Competitive Behavior
Stakeholder Relations Chapter –
Relationship with Society item
Sustainability Chapter – Prevention of Money
Laundering, Corruption and Financing of Terrorism item
Stakeholder Relations Chapter –
Institutional Participations item
Stakeholder Relations Chapter –
Relationship with the Market item
Fully 60-63
Fully 82
Fully 63
Partial 59
Compliance Risk Management Chapter – Market Risk item Partial 30-34
DMA PR Chapter Status Page
Product and Service Labeling
Marketing Communications
Customer Privacy
Stakeholders Relations Chapter –
Communication item
Stakeholders Relations Chapter –
Communication item
Stakeholder Relations Chapter –
Relationship with the Client item
Fully 56
Fully 56
Fully 58 and 59

Sustainability
DMA PS Chapter Status Page
Product Portfolio
Economic Chapter Status Page
Economic Performance
EC1
Economic value directly generated and distributed,
including revenue, operational costs, employee
remuneration, donations and other community
investments, accumulated profits, and payments
to capital providers and governments
Economic Scenario and Performance
Chapter – Result of Financial
Intermediation item
Stakeholder Relations Chapter –
Relationship with Society item
Fully
47 and
60-63
EC4 Significant financial aid received from the government Opening Stakeholder Relations Chapter Fully 50 and 51
Market Presence
EC5
EC7
Variation of the proportion between the lowest salary and
the local minimum wage at important operational units
Procedures for local hiring and proportion of senior
management hired from the local community at significant
locations of operation
Indirect Economic Impacts
EC8
EC9
Environment
Materials
Development and impact of infrastructure investments
and services provided primarily for public benefit through
commercial, in-kind, or pro bono engagement
Understanding and describing significant indirect
economic impacts, including the extent of impacts
EN1 Materials used by weight or volume
EN2
Percentage of materials used that are
recycled input materials
Economic Scenario and Performance
Chapter – Credit Operations item
Sustainability Chapter – Responsible Credit item
BICBANCO products and services do
not have environmental additionality.
Intangible Assets Chapter – Human
Resources and Remuneration items
Intangible Assets Chapter –
Human Resources item
Stakeholder Relations Chapter –
Relationship with Society item
Sustainability Chapter – Social and
Environmental Assessment and
Responsible Credit items
Sustainability Chapter –
Ecoeficiency Program item
Sustainability Chapter –
Ecoeficiency Program item
Fully
38-41
and 89
Fully 66 and 72
Partial 66
Fully 60-63
Fully 86-89
Fully 83 and 84
Fully 83 and 84
101

102 Annual and Sustainability Report 2011
Environment Chapter Status Page
Energy
EN3
EN4
EN5
EN7
Consumption of direct energy,
listed by primary energy source
Consumption of indirect energy,
listed by primary energy source
Energy saved due to improvements
in conservation and efficiency
Initiatives for reducing indirect energy
consumption and reductions gained
EN8 Total water used, by source
Biodiversity
EN11
EN12
EN16
EN17
EN18
Location and size of land owned, leased, managed
in, or adjacent to, protected areas and areas of high
biodiversity value outside protected areas
Description of significant impacts of activities, products,
and services on biodiversity in protected areas and areas
of high biodiversity value outside protected areas
Total direct and indirect emissions
of greenhouse gasses, by weight
Other relevant indirect greenhouse
gas emissions by weight
Initiatives to reduce greenhouse
gas emissions and reductions gained
EN19 Emissions of ozone-depleting substances by weight
EN21 Total disposal of water, by quality and destination
Sustainability Chapter – Ecoeficiency
Program and GHG Emissions items
Sustainability Chapter – Ecoeficiency
Program and GHG Emissions items
Intangible Assets Chapter – New
Headquarters and Technology item
Intangible Assets Chapter – New
Headquarters and Technology item
Sustainability Chapter – Ecoeficiency
Program and GHG Emissions items
Sustainability Chapter –
Ecoeficiency Program item
Sustainability Chapter –
Ecoeficiency Program item
Sustainability Chapter –
Ecoeficiency Program item
Sustainability Chapter –
GHG Emissions item
Sustainability Chapter –
GHG Emissions item
Intangible Assets Chapter – New
Headquarters and Technology item
Sustainability Chapter –
GHG Emissions item
Sustainability Chapter –
GHG Emissions item
Sustainability Chapter –
Ecoeficiency Program item
Fully 83-86
Fully 83-86
Fully 77-79
Partial
77-79
and 83-86
Partial 83 and 84
Fully 83 and 84
Fully 83 and 84
Fully 84-86
Fully 84-86
Fully
77-79 and
84-86
Fully 84-86
Partial 83 and 84

Sustainability
Themes and indicators Chapter Status Page
Emissions, Effluents and Waste
EN22 Total weight of waste, by type and method of disposal
EN23 Total number and volume of significant spills
Products and Services
EN26
EN27
EN28
Initiatives to mitigate environmental impacts of products and
services and extension of the reduction of these impacts
Percentage of products sold and their packaging
materials that are reclaimed by category
Monetary value of significant fines and total number of
non-monetary sanctions resulting from incompliance with
environmental laws and regulations
Sustainability Chapter –
Ecoeficiency Program item
Not applicable based on the activities
developed by BICBANCO.
Opening Sustainability Chapter
Sustainability Chapter – Social and
Environmental Assessment item
Not applicable based on the activities
developed by BICBANCO.
BICBANCO did not have any fines of this
nature during 2011.
Partial 83 and 84
Fully
Fully
Fully
Fully
80-82
and 86-88
Themes and indicators Chapter Status Page
Labor Practices and Decent Work
Employment
LA1 Total workers, by type of job, work contract and region
LA2
LA3
Total number and rate of employee turnover
by age group, gender and region
Benefits offered to full time employees that are not
offered to temporary or part time employees, listed by
main operations
Relation between Employees and Governance
LA4
LA5
Percentage of employees covered by collective bargaining
agreements
Minimum notice period(s) regarding significant operational
changes, including whether it is specified in collective
agreements
Intangible Assets Chapter – Human
Resources and Diversity Map items
Intangible Assets Chapter – Human
Resources and Turnover items
Intangible Assets Chapter –
Benefits Item
Stakeholder Relations Chapter –
Relationship with the Unions item
Intangible Assets Chapter –
Human Resources item
Fully 66-71
Partial 66 and 72
Fully 75
Fully 63
Fully 66
103

104 Annual and Sustainability Report 2011
Themes and Indicators Chapter Status Page
Labor Practices and Decent Work
Occupational Health and Safety
LA6
LA8
LA9
Training and Education
LA10
LA11
LA12
Percentage of employees represented on formal health
and safety committees, made up of managers and
workers, which help to monitor and provide advice on
occupational health and safety programs
Education, training, counseling, prevention, and
risk-control programs in place to assist workforce
members, their families, or community members
regarding serious diseases
Health and safety topics covered in formal
agreements with trade unions
Average training hours per year, per worker, listed by job
category
Competency management and continuing education
programs that support continuity of employability of
employees and for end of career management
Percentage of employees that regularly receive
performance and career development assessments
Diversity and Equal Opportunity
LA13
LA14
LA15
Composition of groups responsible for corporate
governance and a list of employees by category, according
to gender, age group, minority status, and other indicators
of diversity
Ratio of basic salary and remuneration of women to men
by employee category, by significant locations of operation
Return to work and retention of employees following
maternity and paternity leave
Intangible Assets Chapter – Health and
Safety Commission item
Intangible Assets – Quality of Life
at Work and Health and Safety
Commission items
Intangible Assets – Health and Safety
Commission item
Intangible Assets Chapter –
Training and Development item
Intangible Assets Chapter –
Training and Development item
Intangible Assets Chapter –
Assessment of Performance item
Intangible Assets Chapter –
Diversity Map item
Intangible Assets Chapter – Human
Resources and Remuneration items
Intangible Assets Chapter –
Quality of Life at Work item
Fully 76
Fully 75 and 76
Fully 76
Partial 73
Fully 73
Fully 74
Fully 67-71
Partial 66 and 72
Fully 75 and 76

Sustainability
Themes and Indicators Chapter Status Page
Human Rights
Investment and Procurement Process Practices
HR1
HR2
HR3
Non-Discrimination
HR4
Percentage and total number of significant investment
contracts that include clauses regarding human rights or
that underwent assessment regarding human rights
Percentage of companies contracted and critical suppliers
who underwent assessments regarding human rights and
measures taken
Total training time for employees on policies and
procedures related to aspects of human rights that are
relevant to operations, including percentage of employees
who received training
Total number of cases of discrimination
and measures taken
Freedom of Association and Collective Bargaining
HR5
Child Labor
HR6
Operations identified in which the right to exercise
freedom of association and collective bargaining may be at
significant risk, and actions taken to support these rights
Operations identified as having a significant risk for
child labor to occur and measures taken to contribute to
abolishing child labor
Sustainability Chapter – Ecoeficiency
Program and Social and Environmental
Assessment items
Note: Because this is a standard
procedure, all contracts have clauses
regarding human rights, making
the absolute number of contracts
immaterial in reporting.
Sustainability Chapter – Ecoeficiency
Program and Social and Environmental
Assessment items
Sustainability Chapter – Prevention
of Money Laundering, Corruption and
Financing of Terrorism item
Intangible Assets Chapter – Human
Resources item
Stakeholder Relations Chapter –
Relationship with the Unions item
Sustainability Chapter – Social and
Environmental Assessment item
Sustainability Chapter – Social and
Environmental Assessment item
Fully
Fully
83, 84 and
86-88
83-84 and
86-88
Fully 82
Fully 66
Fully
63 and
86-88
Fully 86-88
105

106 Annual and Sustainability Report 2011
Themes and Indicators Chapter Status Page
Forced or Compulsory Labor
HR7
HR9
HR10
HR11
Society
Community
SO1
Corruption
SO2
SO3
Operations identified as having a significant risk of
forced or compulsory labor occurring and measures
taken to eradicate forced or compulsory labor
Total number of incidents of violations involving rights
of indigenous people and actions taken
Percentage and total number of operations that have
been subject to human rights reviews and/or impact
assessments
Number of grievances related to human rights
filed, addressed and resolved through formal
grievance mechanisms
Nature, scope, and effectiveness of any programs
and practices that assess and manage the impacts
of operations on communities, including entering,
operating, and exiting
Percentage and total number of business units
analyzed for risks related to corruption
Percentage of employees trained in organization's
anti-corruption policies and procedures
SO4 Measures taken to respond to cases of corruption
Sustainability Chapter – Social and
Environmental Assessment item
Sustainability Chapter – Social and
Environmental Risk item
Sustainability Chapter – Social and
Environmental Assessment item
Sustainability Chapter – Social and
Environmental Assessment item
There was no record of any
grievances related to human rights or
violation of privacy of client data and
loss of client data.
Stakeholder Relations Chapter –
Relationship with the Market and
Relationship with Society items
Sustainability Chapter – Prevention of
Money Laundering, Corruption and
Financing of Terrorism item
Sustainability Chapter – Prevention of
Money Laundering, Corruption and
Financing of Terrorism item
Sustainability Chapter – Prevention of
Money Laundering, Corruption and
Financing of Terrorism item
Fully 86-88
Fully
34, 35
and 86-88
Fully 86-88
Fully
Fully
59 and
60-63
Fully 82
Fully 82
Fully 82

Sustainability
Themes and Indicators Chapter Status Page
Public Policies
SO5
SO6
Public policy positions and participation in public policy
development and lobbying
Total value of financial and in-kind contributions to political
parties, politicians, and related institutions by country
Anti-Competitive Behavior
SO7
SO9
SO10
Total number of legal actions for anti-competitive behavior,
anti-trust, and monopoly practices and their outcomes
Operations with significant potential or actual
negative impacts on local communities
Prevention and mitigation measures implemented in
operations with significant potential or actual negative
impacts on local communities
Product Responsibility – Management Approach
Customer Health and Safety
PR1
Phases of the lifecycle of products and services where
impacts to health and safety are assessed in order to
gain improvement, and the percentage of products and
services subject to these procedures
Product and Service Labeling
PR3
PR5
Type of information on products and services required by
labeling procedures and the percentage of products and
services subject to these requirements
Practices related to customer satisfaction, including results
of surveys that measure this satisfaction
Stakeholders’ Relations Chapter –
Institutional Participations item
In 2011, there were no financial
contributions made to political
parties or politicians
Stakeholders’ Relations Chapter –
Relationship with the Market item
Stakeholders’ Relations Chapter –
Relationship with the Market item
Sustainability Chapter – Social and
Environmental Assessment item
Stakeholders’ Relations Chapter –
Relationship with the Market item
Sustainability Chapter – Social and
Environmental Assessment item
Not applicable. BICBANCO
does not offer products and services
that impact health and safety.
Stakeholders’ Relations Chapter –
Communication item
Stakeholders’ Relations
Chapter – Customer Service
and Ombudsman items
Fully 63
Fully
Fully 59
Fully
Fully
Fully
59 and
86-88
59 and
86-88
Fully 56
Fully 57 and 58
107

108 Annual and Sustainability Report 2011
Themes and Indicators Chapter Status Page
Marketing Communications
PR6
PR7
Customer Privacy
PR8
Programs to comply with laws, standards, and
voluntary codes related to marketing communications,
including publicity, promotion, and sponsorship
Total number of cases of incompliance with
voluntary codes and regulations regarding marketing
communications, including publicity, promotion, and
sponsorship, listed by type of result
Total number of substantiated complaints
regarding breaches of customer privacy
and losses of customer data
Financial Services Sector Supplement
Product Portfolio
FS1 Social and environmental policies
FS2 Assessing environmental and social risks
FS3 Social and environmental client monitoring
FS4 Training on social and environmental policies
FS5
Interactions regarding environmental
and social risks and opportunities
FS6 Percentage of the portfolio for business lines
FS7 Products and services for social benefit
Stakeholders’ Relations Chapter –
Communication item
Stakeholders’ Relations Chapter –
Communication item
Stakeholders’ Relations Chapter –
Customer Service Item
Risk Management Chapter – Social and
Environmental Risk item
Opening Sustainability Chapter
Sustainability Chapter – Social and
Environmental Assessment item
Risk Management Chapter – Social and
Environmental Risk item
Sustainability Chapter – Social and
Environmental Assessment item
Sustainability Chapter – Social and
Environmental Assessment item
Risk Management Chapter – Social and
Environmental Risk item
Sustainability Chapter – Ecoeficiency
Program, Education for Sustainability and
Responsible Credit items
Stakeholders’ Relations Chapter –
Engagement item
Sustainability Chapter – Ecoeficiency
Program, Education for Sustainability and
Responsible Credit items
Economic Scenario and Performance
Chapter – Credit Operation item
Sustainability Chapter –
Responsible Credit item
Fully 56
Fully 56
Fully 57
Fully
Fully
34, 35,
80-87 and
86-88
34, 35 and
86-88
Fully 86-88
Fully
Fully
34-35,
83-84,
86 and 89
51-53,
83-84,
86 and 89
Fully 38-41
Fully 89

Sustainability
Themes and Indicators Chapter Status Page
Active Ownership
FS10
FS11
FS12
Community
FS13
Interaction with companies on
social and environmental issues
Assets subject to positive and negative
environmental or social screening
Voting policy(ies) applied to environmental
or social issues
Access points in economically
disadvantaged areas
FS14 Access for disadvantaged people
Product and Service Labeling
FS15 Development and sale of products and services
Sustainability Chapter – Social and
Environmental Assessment item
Not applicable. Bank asset management
operations are immaterial in relation to
other operations
Sustainability Chapter – Social and
Environmental Assessment item
Not applicable because the Bank’s
business is concentrated in offering
unique products and services, geared
towards corporate credit, which are
mostly aimed at serving middle market
company demands – with annual
revenue between BRL50 million and
BRL500 million.
Stakeholders’ Relations Chapter –
Service Points item
Risk Management Chapter –
Credit Risk item
Partial 86-88
Fully
Fully 86-88
Fully
Fully 55
Fully 25 and 26
109

110 Annual and Sustainability Report 2011
Independent Auditors’ Report on Limited Assurance
To the
Board of Directors, Shareholders, Administrators and other
stakeholders of Banco Industrial e Comercial S.A.
São Paulo – SP
INTRODUCTION
We were hired with the goal of applying limited assurance procedures to the sustainability information reported in the Banco Industrial
e Comercial S.A. (“BICBANCO”) Annual and Sustainability Report, regarding the fiscal year ending on December 31, 2011,
drafted under the responsibility of said Company’s Administration. We are responsible for issuing a Limited Assurance Report on
this sustainability information.
APPLIED PROCEDURES
Limited assurance procedures were carried out pursuant to NBC TO 3000 – Assurance Work Different from Auditing and Reviewing,
issued by Brazil’s Federal Accounting Board (Conselho Federal de Contabilidade – CFC) and to ISAE 3000 – International Standard
on Assurance Engagements, issued by the International Auditing and Assurance Standards Board – IAASB, both for assurance
work that is neither auditing nor reviewing of historical financial information.
Limited assurance procedures include: (a) planning of work, considering the relevance, coherence, volume of quantitative information
and operational and internal control systems that served as the basis for drafting the BICBANCO Annual and Sustainability
Report; (b) understanding of the methodology for calculations and consolidation of indicators through interviews with the managers
responsible for drafting information; (c) cross-checking, based on samples, of quantitative information with information reported
in the Annual and Sustainability Report; (d) cross-checking of indicators of a financial nature with accounting statements and/or
accounting records; (e) analysis of adherence to Global Reporting Initiative (GRI G3.1) guidelines for verification of the level of application
stated by BICBANCO.
CRITERIA FOR DRAFTING INFORMATION
Sustainability information reported in the BICBANCO Annual and Sustainability Report were drafted according to the Global Reporting
Initiative (GRI G3.1) guidelines for sustainability reports, with the “Financial Services Sector Supplement – RG Version 3.0/FSSS
Final Version,” with the Instituto Brasileiro de Análises Sociais e Econômicas – Ibase (Brazilian Institute of Social and Economic
Analyses) social balance sheet model and with Brazilian Accounting Standard (Norma Brasileira de Contabilidade) NBC T 15 – Social
and Environmental Information.
SCOPE AND LIMITATIONS
Our work was aimed at applying limited assurance procedures to the sustainability information reported in the BICBANCO Annual
and Sustainability Report, not including the appropriate assessment of its policies, practices, and performance in sustainability.
Procedures applied do not represent an examination according to Brazilian and international standards of auditing. Additionally, our
report does not provide limited assurance on the scope of future information (such as: targets, expectations and projections) and
descriptive information that is subject to subjective assessment.

APPLICATION LEVEL GRI G3.1
Sustainability
According to orientation from GRI G3.1 guidelines, BICBANCO states that it uses Application Level B+ in its Annual and Sustainability
Report, regarding sustainability information for the fiscal year ending on December 31, 2011.
BICBANCO reported the Profile items, essential performance indicators and management approaches for each category of indicator,
in addition to performance and management approach indicators for the Financial Services Sector Supplement – Version 3.0.
FSSS Final Version, in addition to further indicators considered to be of import to its stakeholders. Corresponding justifications were
presented for indicators not reported that met GRI orientations. Thus, the procedures applied were found to be sufficient for us to
certify that the application level stated by BICBANCO is in compliance with the orientations of GRI G3.1 guidelines.
CONCLUSION
Based on the procedures carried out, we are unaware of any relevant modification that should be made to the sustainability information
reported in the Banco Industrial e Comercial S.A. Annual and Sustainability Report, in relation to the fiscal year ending
on December 31, 2011, so that this information is prepared pursuant to the guidelines defined by the Global Reporting Initiative –
GRI G3.1, Financial Services Sector Supplement – Version 3.0. FSSS Final Version, and to the records and files that served as the
basis for its preparation.
São Paulo, June 1, 2012
KPMG Risk Advisory Services
Brazilian Regional Accounting Board (CRC) 2SP023233/O-4
Eduardo V. Cipullo
São Paulo Regional Accounting Board (CRC SP) Accountant – 135597/O-6
111

112 Annual and Sustainability Report 2011
Credits
COORDINATION AND EDITING
BICBANCO Marketing and Communication
RESEARCH AND CONTENT COORDINATION
BICBANCO Corporate Governance
COLLABORATION – BICBANCO DEPARTMENTS
Controller’s Department
Credit
Infrastructure
Products and Services
Human Resources
Investor Relations
Information Technology
CREATION AND PRODUCTION
TheMediaGroup
TEXT
Lucy Cardia
BICBANCO Marketing and Communication
BICBANCO Corporate Governance
REVIEW
TheMediaGroup
PHOTOGRAPHS
Fernando Favoretto
AUDIT
KPMG Risk Advisory Services Ltda.
ELECTRONIC VERSION
TheMediaGroup
www.bicbanco.com.br
GRI 3.4
For any questions regarding the content of this report, please contact
us via e-mail at: bicbanco@bicbanco.com.br.