Sustainability - bicbanco

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.