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1Q11 Institutional Presentation
- 2. History and Profile PINE at a Glance Summary History Organizational Structure Business Strategy Competitive Landscape Diversity of Products Corporate Credit Sales Desk PINE Investimentos Distribution The Current Scenario and Future Prospects Highlights and Results Corporate Governance and Shares Corporate Governance Main Committees Shareholders’ Structure Shareholders Profile Dividends Other Highlights DEG and PINE Partnership 1Q11 Events and Highlights Social Responsibility Appendix Investor Relations | 1Q11 | 2/38
- 4. PINE at a Glance PINE specializes in providing financial solutions for mid and large companies Credit Portfolio by Clients’ Annual Revenues Focused on establishing long-term relationships with companies Up to R$150 million 12% As of March 31, 2011 PINE thoroughly understands the needs and strategies of its clients, offering a broad range of financial instruments in local and foreign currencies S l i hi d i i h li Over R$1 billion 51% R$150 million to R$500 million Strong relationship and penetration with clients: more than 80% of our clients are served by more than one of our financial products Business is structured along four primary business lines: R$500 million to R$1 billion 15% 22% g p y • Corporate Credit: credit and financing products • Sales Desk: Instruments for hedging and risk management • Distribution: investment solutions for foreign and local investors Solid Credit Ratings • PINE Investimentos: vehicle for Investment Banking products and Asset Management A1.br Brazil national scale Ba2 Long term foreign and local-currency deposit gy Strategy based on: Br A- Brazil national scale • Product diversity • Qualified human capital • Efficient risk management • Agility BB- Long term foreign and local-currency deposit A(bra) Brazil national scale BB Long term foreign and local BB- local-currency deposit Investor Relations | 1Q11 | 4/38
- 5. History Founded in 1997, PINE has shown a track record of continued development 1939 1975 1997 2005 2007 Foundation of Banco PINE Noberto Pinheiro becomes Banco PINE’s sole shareholder Foundation of Banco Central do Nordeste by the Pinheiro Family Noberto Pinheiro becomes one of BMC’s controlling shareholders …. Consolidation of PINE’s corporate banking strategy IPO 1939 – Pinheiro Family founds its first bank in Brazil – Banco Central do Nordeste 1975 - Noberto Pinheiro becomes one of the controlling shareholders of Banco BMC 1997 - Noberto and Nelson Pinheiro sell their stake at BMC and found Banco PINE 2005 - Noberto Pinheiro becomes Banco PINE’s sole shareholder 2007 – IPO Investor Relations | 1Q11 | 5/38
- 6. Organizational Structure Non-bureaucratic structure and flat hierarchy, streamlining the decision making process Board of Directors Internal Auditors Tikara Yoneya External Auditors PwC Noberto Pinheiro Chairman Noberto N. Pinheiro Jr. Vice-Chairman Maurizio Mauro Independent Member Fernando Albino External Member Mailson da Nóbrega Independent Member Antonio Hermann* Independent Member Fiscal Council O ti l Ri k Sidney Veneziani Sérgio Machado Alcindo Itikawa CEO Noberto N. Pinheiro Jr. Operational Risk & Compliance PINE Investimentos Gustavo Junqueira Planning and Control Susana Waldeck Sales & Trading Norberto Zaiet Jr. Origination Clive Botelho Credit Risk & Analysis Gabriela Chiste Operations Ulisses Alcantarilla q Corporate • 14 origination platforms • São Paulo • Campinas • Ribeirão Preto Corporate Credit • Analysis and granting of credit • Credit risk monitoring and analysis by sector Market and liquidity Risks Human Resources Accounting Controlling Investment Banking • Capital Markets • Corporate Finance • Distressed and Special Situations Investment Corporate Processing and Formalization Legal Trading Sales Desk • Fixed Income • Currencies • Commodities Local Distribution • São José do Rio Preto • Rio de Janeiro • Curitiba • Porto Alegre • Belo Horizonte • Recife • Fortaleza Management Asset Management International Distribution Macro and Commodities Research Products Investor Relations * Pending approval from the Brazilian Central Bank Investor Relations | 1Q11 | 6/38
- 8. Brazilian Competitive Landscape Financial sector consolidation reduced options to our target segment Focus on the upper middle and low corporate segments Large Multiple banks Consolidation in the banking sector caused reduction in the supply of credit lines and Corporate sector mid-sized banks Opportunity to expand operations IB and PINE f d l i f financial instruments to the bank’s segment Unique approach: offering diversity of products to PINE: focused on complete service for companies, offering tailor-made products. Foreign Banks a market segment poorly serviced by the banking industry Competitive Advantages: Fast response Dedicated team of specialists with deep knowledge of the clients business, balance Mid-sized banks sheet and market positioning Tailor-made solutions based on a diverse product base Investor Relations | 1Q11 | 8/38
- 9. Diversity of Products A diversity of financial instruments for the diverse needs of our clients Corporate Credit Credit products in local and foreign currency Sales Desk Derivative products for mitigating markets’ mismatches risks for clients PINE Investimentos Investment Banking C it l k t Working Capital Overdraft accounts BNDES onlending Bank Guarantees Fixed Income Currencies Commodities Capital markets Corporate finance Distressed & Special Situations Investment Management Compror/Vendor ACC/ACE Export Finance Finimp Letters of Credit g Asset Management Wealth Management 2,770 onlending Syndicated Loans Structured Loans Distribution Investment products in local and foreign currency CD – Certificate of Deposit Eurobonds Subordinated notes 2,770 onlending Local deposits Double index CDB LCA /LCI Senior and subordinated local notes Multilateral lines Debt Capital Markets (CCBs, Debentures, FIDCs, CRIs, CRAs, CDCAs, among others) Time Deposits Investor Relations | 1Q11 | 9/38
- 10. Corporate Credit Constantly searching for diversification and expansion of our credit exposure Actions Personalized, agile service, working closely with clients and keeping a low ratio of companies per officer: each account manager covers only 14 economic groups on Credit Portfolio by Product 2770 Resolution As of March 31, 2011 average. More than 70 officers focused on specific geographic areas. It provides the bank with local and highly updated credit intelligence. Working Capital 54.7% Trade finance 10.3% 0.2% Relationship with more than 600 different economic groups Origination network is comprised of 10 branches divided into 14 b siness platforms in different Bra ilian economic Bank Guarantees 19.5% business Brazilian centers More than 30 credit analysts that guarantee intelligent analysis in each sector BNDES Onlendings 15.2% Efficient loan and collaterals process, documentation and controls, which results in historically low NPL ratios Credit Approval: Electronic Process Origination Officers Credit Analysts Credit origination Credit analysis, visit to clients, data updates, interaction with internal Regional Heads of Origination and Credit Analysis Discussion around sizing, collateral, structure etc Chief Credit Officer and Credit Analysts Presentation to the Credit Committee CREDIT COMMITTEE (6 Members) Centralized and unanimous decision making process research team Investor Relations | 1Q11 | 10/38
- 11. Sales Desk Expertise qualifies the Bank to quickly respond to market conditions and clients demands Breakdown of Derivative Portfolio Notional Business Fixed Income 31% DERIVATIVE SEGMENTS Fixed Income: Fixed Floating Inflation Libor As of March 31st, 2011 Fixed, Floating, Inflation, Currencies: Dollar, Euro, Yen, Pound, Canadian Dollar, Australian Dollar, Spot Commodities 13% Currencies 56% Commodities: Sugar, Soybean (Grain, Meal and Oil), Corn, Cotton, Metals, Energy Purpose To bring predictability the clients’ balance sheet TRENDS Increased participation of Commodities hedging in the Notional: R$3.4 billion to clients Executed with clients that have an ongoing credit relationship with PINE, rated between AA and C 8 professionals assigned to the Desk, dedicated to serve total portfolio Short-term portfolio (average maturity of transactions of 188 days) p g , clients on their daily needs According to Cetip ranking, PINE is number 13 in overall derivatives and top 2 in commodities hedging to clients Increased usage of risk mitigation tools such as initial margin and threshold. Investor Relations | 1Q11 | 11/38
- 12. PINE Investimentos Creating new values for clients and optimizing the use of the Bank’s Capital PINE Investimentos offers unique solutions for its clients in Investment Banking and Investment Management. With a highly qualified team with deep knowledge of the market, this area operates as an advisor and not as counterparty, serving the interests and needs of companies and their shareholders, in a customized manner and with diversity of products. Capital Markets Investment Banking Investment Management St t i d Pl t fS iti Asset Management Fixed Income Funds Structuring and Placement of Securities Intermediation Structured Transactions Corporate Finance Credit Funds Exclusive Mandates Wealth Management M&A P tf li M t Private Placements Strategic and Financial Advisory Restructuring Corporate Governance Portfolio Management Distressed & Special Situations Advisory on Workouts Negotiation of NPLs Advisory on Acquisitions of Stressed Assets Investor Relations | 1Q11 | 12/38
- 13. Distribution Investment alternatives in local and foreign currency to domestic and foreign investors PINE’s Distribution Desk is responsible for serving investors, offering traditional investments and also alternatives tied to the credit origination platform, capital market, asset management and other structured transactions. The objective is to provide the clients with a diversified portfolio of investments in line with market development, that adjust to investors’ risk profiles. The Distribution Desk counts on PINE’s expertise in structuring and intermediation of fixed income transactions. Our Distribution Desk is segmented by type of investor to provide a personalized approach. Investors Products Family Offices Individuals Local Currency Traditional investments (local deposits such as CDB/RDB/CDI, LCA/LCI) Senior and subordinated local notes Corporates Asset Managers Debt Capital Markets (CCBs, Debentures, FIDCs, CRIs, CRAs, CDCAs, among others) Derivatives Financial Institutions F i C Pension Funds Foreign Investors Foreign Currency Time Deposits and CD – Certificate of Deposit Senior and Subordinated bonds issued by PINE Debt Capital Markets (CCB, Credit Fund, Bonds) – through Credit Linked Notes Derivatives Investor Relations | 1Q11 | 13/38
- 14. The Current Scenario and Future Prospects PINE has the key resources to continue developing its strategy: adequate capitalization, efficient funding and strong management team Adequate capital structure Efficient funding structure US$125 million subordinated debt, approved by the Brazilian Central Bank as Tier II capital in June 2010 Regulatory Capital: R$ 1.1 billion (Mar/11) Lengthening of average maturities: 551 days (Mar/11) Greater diversification of funding sources Capital Adequacy Ratio (BIS) of 17.1% (Mar/11) DEG and PINE partnership (Feb/11) USD 106 million A/B Loan (Jan/11) R$ 300 million FIDC (Apr/11) Corporate clients Strong and motivated team Meritocracy Incentives Customized service Deep knowledge of clients needs Product diversity Qualification Around 80% of the client base is served by more than one product Investor Relations | 1Q11 | 14/38
- 16. 1Q11 Highlights All main indicators showed improvement in the period... Corporate Credit Portfolio* (R$ Million) 29.8% Total Funding (R$ Million) 17.5% Operating Income (R$ Milllion) 0.6% 4 462 5,792 4,634 5,447 4,462 47.9 48.2 Mar-10 Mar-11 (*) Includes Debentures Mar-10 Mar-11 1Q10 1Q11 Net Income (R$ Million) ROAE NIM before Provision 4.3% -10 bps 30.1 31.5 15.3% 15.2% 6.4% 6.4% 1Q10 1Q11 1Q10 1Q11 1Q10 1Q11 Investor Relations | 1Q11 | 16/38
- 17. 1Q11 Highlights - Corporate ... with highlight for the Corporate business earnings. Corporate business consistent performance Close relationship with companies in various sectors sectors, such as sugar and alcohol, infrastructure, renewable energy and construction, among others Positive contribution of all business lines: Corporate Credit, Sales Desk and PINE Investimentos Net Income of R$35.4 million ROAE of 17.2% Corporate Income Breakdown 1Q10 1Q11 Corporate PINE Investimentos PINE Investimentos 0.5% 2.3% Corporate Credit 69.0% Treasury 3.4% Credit 77.7% Treasury 6.9% Sales Desk 13.1% Sales Desk 27.1% Investor Relations | 1Q11 | 17/38
- 18. Credit Portfolio Positive credit portfolio development... 5,747 5,792 13 71 Corporate Credit Mix (R$ Million) 10 5,265 543 827 520 591 1,022 4,794 688 1,117 21 4,462 19 18 15 * 4,118 Private Securities Corporate credit portfolio grew 29.8% 242 455 629 833 871 176 in 12 months. 350 511 634 842 688 708 663 707 745 44 36 32 Resolution 2770 Trade finance 2,842 3,068 3,416 1,767 1,964 2,284 2,703 2,822 2,792 3,251 3,358 3,132 72 68 87 272 292 Bank Guarantees BNDES Onlending W ki C it l Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Working Capital (*) Includes Debentures Total Credit Portfolio (R$ Million) 8 7 016 022 Increase of the corporate loan portfolio, which represents 98% of the total credit portfolio. 3,873 3,922 4,113 4,753 4,960 5,208 5,61 6,0 6,0 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 (**) Includes corporate credit, debentures, remaining payroll-deductible loans and credit acquired from financial institutions Investor Relations | 1Q11 | 18/38
- 19. Credit Portfolio Profile - Corporate ... growing in a diversified manner, both in sectors and products. Credit Portfolio by Sector Credit Portfolio by Product Electric and Renewable Energy 9% Construction 8% Transportation and Logistics 7% Financial Institutions 4% Meat packing 4% Foreign Trade Trade finance 2770 Resolution 0.2% Agriculture 9% 4% Telecom 3% Specialized Services Working Capital 54.7% B k 10.3% Sugar and Infrastructure 10% 3% Vehicles and Parts 3% Pharmaceutical and Cosmetic 2% BNDES Onlendings Bank Guarantees 19.5% Geographic Distribution Ethanol 17% Metal and Mining 2% Construction Materials 2% Other 13% 15.2% Local Presence T t l 70%* Mid-West 14% North 2% Pernambuco 2% Total: Ceará 2% Minas Gerais 9% Southeast Northeast 6% South 69% 10 Branches 14 Business Platforms Rio de Janeiro 11% São Paulo 33% Paraná 6% 9% Rio Grande do Sul 7% (*) Share in the Brazilian GDP Investor Relations | 1Q11 | 19/38
- 20. Efficient Risk Management Constant monitoring of the credit portfolio and balance sheet. As of March 31, 2011 Credit Portfolio Quality Non Performing Loans (15 days overdue) B 25.6% Receivables 36% Collaterals Overdue Contracts Overdue Installments C 5.8% Property Pledge 18% 1.5% AA-A 65.1% D-E 1.4% F-H 2.1% Products Pledge 42% Investments 4% 1.2% 1.0% 0.7% 0.3% 0.7% Mar-10 Dec-10 Mar-11 Average Value a Total Credit Coverage Cash Position x Time Deposits t Risk (R$ Thousand) 1,439 1,908 625 34% 43% 42% 1.74% 2.45% 2.66% Mar-10 Dec-10 Mar-11 Mar-10 Dec-10 Mar-11 1Q10 4Q10 1Q11 Investor Relations | 1Q11 | 20/38
- 21. Payroll-Deductible Loans Portfolio Reduced impact coming from the retail business expected for 2011, due to the retail credit portfolio run-off. Payroll-Deductible Loans Portfolio (R$ Million) 890 730 594 475 378 286 225 177 148 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Payroll Deductible Loan Run-off Forecast - Retail (R$ Million) * 126 74 31 11 3 Mar-11 Dec-11 Dec-12 Dec-13 Dec-14 *Portfolio assigned with recourse Investor Relations | 1Q11 | 21/38
- 22. Funding Funding is growing with quality and... 222 Funding Mix (R$ Million) 160 200 326 282 194 194 201 217 230 Other Foreign Funding Capital Market 5,375 4,871 3 4 634 5,589 5,447 361 192 152 350 385 176 242 270 362 125 453 626 829 472 867 393 225 230 239 227 141 116 108 75 276 203 175 138 127 130 142 206 Multilateral Lines Trade Finance 4,531 4,634 3,852 3,621 3,674 Tot 1,123 1,064 1,124 1,463 1,559 1,114 247 283 473 89 91 85 175 198 214 218 148 245 298 238 312 797 650 529 419 330 249 72 68 87 601 536 BNDES Loan Assignments Interbank and D d D i tal Deposits + LCA 753 1,570 1,566 1,646 1,654 1,564 1,720 1,225 807 840 85 88 218 162 Demand Deposits Individuals Corporate Clients A* 497 861 , Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Institutional Foreign Funding – Multilateral Agencies A/B Loan (January, 2011) US$106.0 Million (*) LCA - Agribusiness Letters of Credit Investor Relations | 1Q11 | 22/38
- 23. Funding and Credit Portfolio Maturities ... posting an 80 days positive gap between credit and funding. R$ million Credit Funding 1,985 1,855 1,880 85 99 1,737 - 398 98 42 1,18 1,2 780 404 No Maturity Up to 3 From 3 to 12 From 1 to 3 From 3 to 5 More than 5 (*) Does not consider Shareholders' equity y p months (includes Cash) months years years years Average Maturity Credit: 471 days Funding: 551 days Investor Relations | 1Q11 | 23/38
- 24. Capital Adequacy Ratio (BIS) BIS ratio remained at a comfortable level. Public Offering BIS Ratio Tier II Tier I 18 6% 19 3% 11% - Minimum Regulatoty Capital US$125 Million Subordinated Notes 0.8% 0.6% 0.5% 0.5% 0.5% 3.9% 3.6% 3.6% 3.7% 18,6% 19,3% 17,2% 15,6% 14,9% 18,5% 18,4% 17,4% g y p 17,1% 17.8% 18.7% 16.7% 15.1% 14.4% 14.6% 14.8% 13.8% 13.4% February/2010 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 R$ Thousand BIS Ratio (%) 866,124 238 492 Tier I 13.4% Tier II 3 7% 3.7% 238,492 1,104,616 Total 17.1% Investor Relations | 1Q11 | 24/38
- 25. Corporate Governance and Shares
- 26. Corporate Governance PINE adopts the best corporate governance practices. Two independent members and one external member on the Board of Directors Mailson Ferreira da Nóbrega: Brazil’s Finance Minister from 1988 to 1990 Maurizio Mauro: Former CEO of Booz Allen Hamilton and Grupo Abril Fernando Albino de Oliveira: Former Director of CVM’s and a partner of Albino Advogados Associados Antonio Hermann*: Former CEO of Banco Itamaraty, Director at FEBRABAN and elected Director of Brazilian Banking Association São Paulo Stock Exchange (BM&FBovespa) Level 1 of Corporate Governance Fiscal Council 100% tag along rights for all shareholders, including non-voting shares Arbitration procedures for fast settlement of litigation cases * Pending approval from the Brazilian Central Bank Investor Relations | 1Q11 | 26/38
- 27. Main Committees PINE believes that the use of the best corporate governance practices substantially enhances its business outcome. Main decisions are taken by committees: Board of Directors and a structure of specific committees Non-stop exchange of knowledge and information Transparency Board of Directors Fiscal Council Audit Support Committee Executive Committee Treasury Committee (ALCO) National and Foreign Funding Products Credit Committee Retail Committee Compliance and Basel Risk Committee Corporate Finance Committee Committee Delinquency Committee Performance Evaluation Committee Ethics Committee IT Committee Human Resources Committee Investor Relations | 1Q11 | 27/38
- 28. Shareholders’ Structure On December 29th, free floating adequacy reached through the sale of a portion from shares in treasury. March 31, 2011 Common Preferred Total % Controlling Shareholder g 45,443,872 14,370,556 5 9,814,428 70.0% Management - 2,737,946 2,737,946 3.2% Free Float - 21,481,892 21,481,892 25.2% Individuals - 4,506,453 4,506,453 5.3% Institutionals - 6,584,407 6,584,407 7.7% Foreign - 10,391,032 10,391,032 12.2% Subtotal 45,443,872 38,590,394 84,034,266 Treasury - 1,374,839 1,374,839 1.6% Total 45,443,872 39,965,233 85,409,105 100.0% Investor Relations | 1Q11 | 28/38
- 29. Shareholders’ Profile Shareholders' profile evolution 2007 IPO Foreign Investors 78.4% 45.7% 48.4% Foreign Investors Institutional Investors 12.9% 38.4% 38.7% 39.7% 39.3% 39.4% 40.3% 40.3% 39.9% 39.0% 36.1% 36.2% 33.4% 30 7% 36.4% 36.1% 36.0% 35.9% 35.2% 35.5% 35.8% 36.9% 38.2% 42.4% 42.4% 25.2% 25.2% 24 3% 24.8% 25.4% 24 1% 23 8% Institutional Investors 30.7% Individuals Individuals 8.7% 24.3% 24.1% 23.8% 23.2% 22.8% 21.5% 21.4% 20.9% 21.0% Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Investor Relations | 1Q11 | 29/38
- 30. Dividends Since 2008, Banco PINE has paid dividends/interest on own capital on a quarterly-basis. Dividends and Interest on Own Capital R$ million R$ Gross Amount Total Amount Amount per share Interest on own capital 12.7 0.15 Dividends 2.3 0.03 Total paid in 1Q11 15.0 0.18 Dividends and Interest on Own Capital (R$ Million) 45 40 16 25 25 33 30 35 15 1S07 2S07 1S08 2S08 1S09 2S09 1S10 2S10 1Q11 Investor Relations | 1Q11 | 30/38
- 31. Other Highlights
- 32. DEG and PINE Partnership Subscription agreement with DEG – a leading German bank – for an equity investment in PINE. Highlights Member of KfW Bankengruppe, one of the five largest banks in Germany DEG’s investment in PINE will be their first equity investment in a Brazilian financial institution DEG will subscribe new preferred shares issued by the Bank by the lower value between R$43.7 million and €20 million DEG will acquire approximately 2,422,480 shares (with capital increase) If the investment had occurred in December 2010, the book value per share would have gone from R$10,33 to R$10,54 by the end of 2010 Investor Relations | 1Q11 | 32/38
- 33. 1Q11 Events and Highlights Market Recognition. PINE is ranked the 13th largest bank in Cetip’s overall derivatives ranking and the 2nd largest in commodities hedge for clients On April 6th, PINE’s corporate credit FIDC transaction was successfully completed. The amount of the transaction was R$ 300 million, with a AA+ rating attributed by S&P PINE was considered, for the second consecutive year, the best commercial bank in Brazil in the World Finance Banking Awards. The award was created by British magazine World Finance. Some of the most important criteria were: solutions for clients and optimization of relationships, innovation and flexibility, and staying ahead of the competition Investor Relations | 1Q11 | 33/38
- 34. Social Responsibility Banco PINE supports and promotes Brazilian culture Social Casa Hope Instituto Alfabetização Solidária Culture Diário de Navegação: addresses the first years of the occupation of the Brazilian coast by the Portuguese colonizers Instituto Casa da Providência Hospital Pequeno Príncipe GRAACC - Grupo de Apoio ao Adolescente e à Criança com Câncer Colégio Mão Amiga Paulo von Poser: exhibit of the painter Paulo von Poser, who is one of the main figures in Brazilian art Teatro Cultura Artística: it is one of the sponsors of the project for the renovation of the Cultura Artística Theater Sports Minas Tênis Clube: training program for thl t Quebrando o Tabu: documentary based on the analysis from the former President of Brazil, Fernando Henrique Cardoso, on the fight against drugs athletes Além da Estrada: motion picture picture, which Tênis Sobre Rodas: projeto executado pelo Instituto Brilho Brasileiro fundado pela tenista Vanessa Menga, que beneficia 80 portadores de deficiência física received the award for best director in the 2010 Rio Festival Responsible Credit Green Building “Lists of Exceptions”: the Bank does not finance – with multilateral organizations lines - projects or those organizations that damage the environment, are involved in illegal labor practices or produce, sell or use products, substances or activities considered prejudicial to society. System of environmental monitoring, financed by the IADB and coordinated by FGV, and internally-d d produced t i bilit sustainability t reports f for t corporate loans. Investor Relations | 1Q11 | 34/38
- 35. Appendix
- 36. Ratings Moody’s Standard & Fitch Ratings Riskbank LF Rating Austin Poor's nd Foreign rrency Long Term Ba2 BB- BB- - - - Short Term B B - - - Local an Cur Long Term Ba2 BB- BB- - - - Short Term B B - - - Brazil National Scale Long Term A1.br brA- A(bra) 10.47 Low Risk for the Medium Term (-) A+ A Short Term Br-1 F1(bra) Investor Relations | 1Q11 | 36/38
- 37. Key Performance Indicators 1Q11 4Q11 1Q10 Quarter (%) Year (%) Earnings and Returns Net Income (R$ thousand) 3 1,450 14,898 30,148 111.1 4.3 Annualized ROAE 15.2% 7.0% 15.3% 820 bps -10 bps Annualized ROAAw 1 2.3% 1.1% 2.5% 120 bps -20 bps Annualized financial margin before provision 6.4% 8.5% 6.4% -210 bps 0 bps Annualized financial mergin after provision 5.5% 4.9% 6.3% 60 bps -90 bps Balance Sheet (R$ thousand) Total credit portfolio 2 6,022,018 6,015,846 4,959,557 0.1 21.4 Corporate credit and private securities risk 3 5,792,235 5,746,649 4,461,581 0.8 29.8 Risk weighted assets 5,650,198 5,473,250 4,942,817 3.2 14.3 Total deposits 4 3,364,504 3,698,360 3,012,901 -9.0 11.7 Total funding 5,446,978 5,588,883 4,634,379 -2.5 17.5 Shareholders' equity 878,549 867,132 839,027 1.3 4.7 Credit portfolio quality Non performing loans - 15 days 0.7% 0.3% 0.7% 40 bps 0 bps Non performing Loans - 60 days 0.4% 0.1% 0.6% 20 bps -20 bps Non performing loans - 90 days 0.3% 0.1% 0.5% 10 bps -30 bps Credit coverage 2.7% 2.4% 1.7% 20 bps 90 bps Performance BIS ratio 17.1% 17.4% 14.9% -30 bps 220 bps Efficiency ratio 38.9% 33.8% 39.5% 520 bps -60 bps Earnings per share (R$) 0.37 0.18 0.36 1 05.6 2 .8 Book value per share (R$) 10.45 10.33 10.07 1 .2 3.8 (1) Risk weighted assets. (2) Includes bank guarantees and debentures. (guarantees 3) Includes bank guarantees. (4) Includes Agribusiness Letter o f Credit. Investor Relations | 1Q11 | 37/38
- 38. Investor Relations Norberto Zaiet Junior CFO Nira Bessler Head of Investor Relations Alexandre Cavalcanti Investor Relations Manager Alejandra Hidalgo Investor Relations Analyst Phone: +55-11-3372-5553 www.bancopine.com.br/ir ir@bancopine.com.br This presentation contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Banco Pine. These are merely projections and, as such, are based exclusively on the expectations of Banco Pine’s management concerning the future of the business and its continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in Banco Pine’s filed disclosure documents and are, therefore, subject to change without prior notice. Investor Relations | 1Q11 | 38/38