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March, 2001. 1. Highlights. Financial Performance. Strategies. Highlights. Financial Highlights Evolution. R$ Billion (*). Itaú Consolidated. 12.31.00. 12.31.99. Var. (%). Total Assets Stockholders’ Equity Deposits Loans Assets under Management Mutual Funds - PowerPoint PPT Presentation
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1
March, 2001
2
HighlightsFinancial Performance
Strategies
3
Highlights
4
12.31.00
69.6
6.6
27.9
27.3
42.0
36.4
5.6
Var. (%)
34.1%
11.9%
20.3%
36.2%
31.3%
41.1%
-9.7%
12.31.99
51.9
5.9
23.2
20.0
32.0
25.8
6.2
Total Assets
Stockholders’ Equity
Deposits
Loans
Assets under Management
Mutual Funds
Portfolio under Management
Itaú Consolidated
Financial Highlights Evolution
R$ Billion (*)
(*) Balances at the end of period
5
3.6%2.9%
0.7%
31.6%25.7%
5.9%
21.0%
58.0%
-27.8%-6.9%
-114.3%
-12.3%12.5%
-120.3%
-31.4%
1.5%
12.31.00
2.6%2,7%
-0,1%
27.7%28.9%
-1.2%
14.4%(*)
59.5%
Var. (%)12.31.99
ROA (%) Recurring
Extraordinary
ROE (%) Recurring
Extraordinary
BIS Ratio (%)
Efficiency Ratio (%)
Itaú Consolidated
%
Excellent Performance
(*) The BIS ratio on December 31, 2000 reached 15.7%, based on the operational conglomerate, and 14.4% based on the financial conglomerate.
6
6,642
5,907
470
3,337
2,311
1,841
1,869
143
343427
0
1.000
2.000
3.000
4.000
5.000
6.000
7.000
81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00
0
200
400
600
800
1.000
1.200
1.400
1.600
1.800
2.000
Stockholders Equity
Net Income
R$ Million(*)
95 211 65 416 1,783 480 2,708 15 9 8 2 20 10 Annual Inflation (%)
(*) In currency of constant power purchasing as of December, 1995 until then, after wich in Corporation Law.(1) Increase of Capital by cash payment.
Evolution of Stockholders’ Equity, Net Income and Annual Inflation
December, 2000Stockholders’ Equity R$ 6,642 MillionMarket Capitalization R$ 21,297 MillionNet Income R$ 1,841 Million
Jan/81 to Dec/00Dividends:
R$ 3.2 BillionIncrease of Capital(1):
R$ 0.1 Billion
7
143
-309
535
165 179 191
403
202275
590
226
333437
522365
435 498620
-41-107-218
-77 -36-68-15
62
Evolution of Consolidated Net IncomeQuarterly Review
R$ Million
Quartersof 1997
Quartersof 1999
Quartersof 1998
1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st
Quarters of 2000
2nd 3rd
185
187207 205
281
761
360415
579
RecurringExtraordinary
462
4th
8
HighlightsFinancial Performance
9Risk - Based Capital Ratio (BIS Ratio)
If taken into consideration all tax credits from Banestado, the asset market value or, instead of it, the future, cash
flows net present value, and the amount of exceed provision to the minimum required besides tax credits not
accounted, this ratio would be 19%.
If taken into consideration all tax credits from Banestado, the asset market value or, instead of it, the future, cash
flows net present value, and the amount of exceed provision to the minimum required besides tax credits not
accounted, this ratio would be 19%.
Itaú Consolidated
Ratio in September 30, 2000Quarter resultInternet on capital amountingIncrease in exchange exposureTreasury sharesIncrease in the weight of tax creditsIncrease in weighted assets
Ratio calculated in accordance with criteria in place
Dec.31, 2000
18.3%1.8%
-0.5%-0.3%-1.2%-0.5%-3.2%
14.4%
10
-6.4%
Var.%
-12.1%
0.0%
-7.3%
2,251
2000
603
746
902
2,405
1999
686
746
973
R$ Million
Total
Itaú Consolidated
Excess Provision for Loan Losses
Excess Provision for Securities
Other Unrealized Gains
Fair Market Value
11
Total
Itaú Consolidated
91.5
Dec 00
32.4%
Var %
20.3%
31.3%30.4%0.0%
108.9%
69.1
Dec 99
R$ Billion
Deposits
Mutual Funds and Portfolio under
Management
Borrowings and on-Lendings
Acceptances and Debentures
Money Market Repurchase
Commitments and Interbank Deposits
Funding
27.9
42.06.93.0
11.7
23.2
32.05.33.0
5.6
12
23,674
16,890
12,325
8,022
3,958 5,531
11,572
6,328
27,253
19,596
14,127
9,057
4,6345,846
11,798
6,366
82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00
R$ Million
Credit Operations
Credit Operations and Guarantees
Credit Operations
Market ShareNovember 30, 2000
Itaú 8.6%Banerj 0.2%Bemge 0.1%Banestado 0.8%Total 9.7%
Market ShareNovember 30, 2000
Itaú 8.6%Banerj 0.2%Bemge 0.1%Banestado 0.8%Total 9.7%
LoansLeasingO.ReceivablesAECSub-totalGuaranteesTotal
20,874955661
1,18423,6743,579
27,253
15,220534187
1,35817,2992,706
20,005
37.178.6
253.5-12.836.932.336.2
Dec.00 Dec.99 Var%
13
Total
Credit Operations by Segment
R$ Million
Credit Card
Real Estate
Individuals
Small and Medium-Sized Companies
Corporate
Non-Accrual Loans + Other Receivables
Credit Operations by Segment
(-) Real Estate
27,253
Dec 00
2,130
3,305
4,486
2,115
14,768
449
3,305
23,948
36.2%
Var %
49.7%
12.8%
76.5%
117.4%
25.9%
9.8%
12.8%
40.2%Total Excluding Real Estate
20,005
Dec 99
1,423
2,930
2,541
973
11,729
409
2,930
17,075
14Provision for Loan Losses
R$ Million
Provision for Loan Losses
2,345
3,579
Risk
AAABCDEFGH
Sub-Total
Guarantees
Total 27,253
--
32245344411130592
618
Abnormal Course
December 31, 2000
% Provision
0.0%0.5%1.0%3.0%
10.0%30.0%50.0%70.0%
100.0%
6,4075,5276,6371,2821,003
16312010189
Normal Course
Total Provision
Specific --3
144433
15364
618
Generic -296638
10049607089
Total -
286952
14582
212135707
21,329 929 501 1,430
15Provision for Loan Losses
R$ Million
Provision for Loan Losses
2,345
3,579
Risk
AAABCDEFGH
Sub-Total
Guarantees
Total 27,253
--
32245344411130592
618
Abnormal Course
December 31, 2000
% Provision
0.0%0.5%1.0%3.0%
10.0%30.0%50.0%70.0%
100.0%
6,4075,5276,6371,2821,003
16312010189
Normal Course
Total Provision
Specific --3
144433
15364
618
Generic -296638
10049607089
Total -
286952
14582
212135707
21,329 929 501 1,430
83% of Total Portfolio Until Risk B (1%)
Excess Provision:R$ 603 million
Total Provision:R$ 2,033 million
16
Excluding Banestado
6,3164,8396,7121,4071,216
235317176471
Total with Banestado
21,690
6,4075,5276,9591,7361,447
275425192707
Provision for Loan Losses
Provision for Loan LossesDecember 31, 2000
Risk
AAABCDEFGH
Total
Provision for Loan Losses
-286952
14582
212135707
1,430
Itaú Consol. (A)
- 42
10 23 12 53 12 236
352
Banestado (B)
- 246742
122 70
159 123 471
1,078
Itaú excluding Banestado (A-B)
23,674
Credit Operations
R$ Million
17Ratio of Default (%)
Obs: Banestado IncludedObs: Banestado Included
Percentage of credits that are 11 to 30 days overdue in relation credits that are 11 to 30 days, and in December/00 using credits that are 15 to 30 days overdue (accordance with Resolution 2,682)Percentage of credits that are 31 to 60 days overdue in relation credits that are 31 to 60 daysPercentage of credits that are 61 to 90 days overdue in relation credits that are 61 to 90 days
2.4
0.13
3.1
2.03
2.6
2.5
0.840.890.830.89
0.63
0.50.690.460.59
0
0.5
1
1.5
2
2.5
3
3.5
Dec/99 Mar-00 Jun-00 Sep/00 Dec/00
11 a 30
31 a 60
61 a 90
18
Itaú Consolidated
Income Statement
R$ Million
Net Interest Margin
Provision for Loan Losses
Banking Service Fees
Salaries, Employee Benefits and
Other Adm. Expenses
Recurring Net Income
Net Income
EPS (per thousand shares)
Recurring ROE
Recurring ROA
2000
5,072
(764)
3,465
(5,173)
1,918
1,841
15.85
28.9%
2.8%
4,629
(814)
3,159
(4,610)
1,518
1,869
15.99
25.7%
2.9%
1999 Var %
9.6%
-6.1%
9.7%
12.2%
26.4%
-1.5%
-0.9%
12.5%
-3.4%
19
Itaú Consolidated
Income StatementR$ Million
Interest IncomeInterest ExpensesNet Interest IncomeProvision for Loan LossesNet Income after PLLOper. Income/(Expenses)Operating IncomeNon Operating IncomeIncome TaxExtraordinary ResultsMinority InterestNet Income
Banking
7,836(3,721)
4,115(496)3,619
(1,966)1,653
(37)(422)
-(84)
1,110
432(4)
427(243)
184196379
1(129)
-(7)
244
CreditCards
Insurance(1)
295-
295(1)
294(32)26214
(94)-
(7)175
-----
271271
-(92)
-(12)167
AssetManag.
Corporat.
-----
(24)(24)(9)
312(77)(57)144
Consolid.
8,563(3,725)
4,838(741)4,097
(1,556)2,541
(31)(426)(77)
(166)1,841
(1) Insurance, capitalization and pension plans
20Net Interest Margin
11%8% 10% 11% 10%
21%25%
20%17% 15%
3Q97 3Q98 3Q99 3Q00 4Q00
Financial Margin Interbank Rate CDI
Annual Average Rates
21
Total
Itaú Consolidated
3,465
2000
9.7
Var %
-8.0
0.0
4.0
-10.8
16.4
17.5
31.2
30.6
831
216
593
124
156
201
866
478
3,159
1999
903
216
570
139
134
171
660
366
R$ Million
Mutual Funds Management Fees
Collection Fees
Current and Savings Accounts Service Fees
Collection Fees Agreement with Public Co.
Interbank Tariff
Credit Operations
Credit Cards
Other Services
Banking Service Fees
22
HighlightsFinancial Performance
Strategies
23
• Cost Reduction Program• Cost Reduction Program
Strategies
24
0
2.000
4.000
6.000
8.000
10.000
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00
0
10
20
30
40
50
60
70
80
90
100
Thousand of EmployeesTransactions
per Employee9,484
47.5
1,523
88.9
Transactions per Employee
Number of Employees
Investments in AutomationIn 2000 – US$ 179 million
Accumulated in the last 6 years: US$ 793 million
25
• Cost Reduction Program• Cost Reduction Program
Strategies
• Internet• Internet
26
Itaú – PC & Internet BankingDec.99: 1.1 millionDec.00: 1.4 million
InternetGrowth in number of customers:
+27%
Itaú – AOLANov. 2000: 4.3 thousandFeb. 18, 2001: 57.3 thousand
“Continuous improvement of the websites, in order to strengthen the relationship with the customers; strategic alliances that aggregate value and maintain our focus
on providing financial services.”
B2B• Partnership in study;
• Offer complete solutions for companies through the Internet.
• Acquisition of one of the most complete investment portals in Brazil, the only one with Select Funds, recommended by S&P;
• Increase in the number of products and services offered.
+1,233%
27
• Cost Reduction Program• Cost Reduction Program
Strategies
• Internet• Internet• Customer Basis Expansion • Customer Basis Expansion
28
7.57.0
5.25.7
6.46.7 6.8 6.9 7.0
5.85.75.3
4.94.94.74.64.1
3.83.73.63.4
2.0
3.0
4.0
5.0
6.0
7.0
Itaú Consolidated + BanestadoItaú ConsolidatedItaú
Customers Basis Expansion
December 31, 2000Banco Itaú: 5.8 MillionBanerj: 0.8 MillionBemge: 0.3 MillionBanestado: 0.5 MillionItaú Buen Ayre: 0.1 Million
Million
29Network DistributionParticipation in the Brazilian Financial System
São Paulo
Rio de Janeiro
Minas Gerais
Rio Grande do Sul
Paraná
States
Total
11%
19%
27%
5%
32%
Branches
16%
14%
22%
18%
5%
32%
CSBs
17%
35.5%
11.0%
9.8%
7.7%
6.2%
% of GDP(2)
70.2%
Itaú Consolidated
1
2
3
4
5
Rank (1)
(1) States ranked by their share in total Brazilian GDP.(2) Source: IBGE (95-98) – Brazilian Institute of Geography and Statistics.
30
• Cost Reduction Program• Cost Reduction Program
Strategies
• Internet• Internet• Customer Basis Expansion • Customer Basis Expansion • Strong Expansion in Personnalité Segment• Strong Expansion in Personnalité Segment
31Strong Expansion in Personnalité Segment
Branches
Customers (in thousand)
Year 1998
32
31.7
1999
33
36.4
2000
35
42.8
2001
55
63.0
2002
57
100.0
32
• Cost Reduction Program• Cost Reduction Program
Strategies
• Internet• Internet• Customer Basis Expansion • Customer Basis Expansion • Strong Expansion in Personnalité Segment• Strong Expansion in Personnalité Segment• Emphasis on Credit Cards• Emphasis on Credit Cards
33Emphasis on Credit Cards
1,870 1,875 2,039 2,279 2,407 2,5562,811
3,1438.4% 8.4%9.1% 9.7% 10.0% 10.3% 10.7% 11.2%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
Mar-99 Jun-99 Sep-99 Dec-99 Mar-00 Jun-00 Sep-00 Dec-00
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
Number of Credit Cards (Thousand)Market Share (%)
Number of Credit Cards x Market Share
34Emphasis on Credit Cards
ItaucardBanerjcardBemgecardPersonnalitéTotal without BanestadoBanestadoTotal
1,90221725
-2,144
542,198
787573842
925124
1,049
75---
75-
75
2,7642746342
3,143178
3,321
Mastercard Visa Diners Total
Thousand
Average Invoice per Account: R$ 391 (Dec.00)+24.5% over Sep.00
Quantities
35
• Cost Reduction Program• Cost Reduction Program
Strategies
• Internet• Internet• Customer Basis Expansion • Customer Basis Expansion • Strong Expansion in Personnalité Segment• Strong Expansion in Personnalité Segment• Emphasis on Credit Cards• Emphasis on Credit Cards• Growth in Loans (mainly consumers)• Growth in Loans (mainly consumers)
36Growth in Loans(mainly consumers)
Goods AcquisitionOverdraftPersonal FinancingLeasingOthers *
357 866
1,630 795 838
Portfolio RiskR$ Million
Sub-total 4,486
HousingCredit Cards
2,9792,130
Total 9,595
* Sureties included
37
• Cost Reduction Program• Cost Reduction Program
Strategies
• Internet• Internet• Customer Basis Expansion • Customer Basis Expansion • Strong Expansion in Personnalité Segment• Strong Expansion in Personnalité Segment• Emphasis on Credit Cards• Emphasis on Credit Cards• Growth in Loans (mainly consumers)• Growth in Loans (mainly consumers)• Segmentation of Specific Channel for Small Companies• Segmentation of Specific Channel for Small Companies
38Segmentation of Specific Channel for Small Companies
Business market segmentation of Itaú
New Focus in Small Companies
Specialized Structure in development
39,000 small companies
Potential credit portfolio of R$ 1.3 billion
(annual sales)
CorporateOver R$ 50 MM
Middle MarketR$ 4 MM to 50 MM
Small CompaniesR$ 500 thousand to 4 MM
Segment with high spreads
39
• Cost Reduction Program• Cost Reduction Program
Strategies
• Internet• Internet• Customer Basis Expansion • Customer Basis Expansion • Strong Expansion in Personnalité Segment• Strong Expansion in Personnalité Segment• Emphasis on Credit Cards• Emphasis on Credit Cards• Growth in Loans (mainly consumers)• Growth in Loans (mainly consumers)• Segmentation of Specific Channel for Small Companies• Segmentation of Specific Channel for Small Companies• Corporate Banking• Corporate Banking
40Corporate Banking
QuantitiesVolume
Coordination of Operations in theLocal Capital MarketCoordination of Operations in theLocal Capital Market
Fixed IncomeFixed Income
Variable IncomeVariable Income
R$ 925 million(Of a total of R$ 6.5 billion)R$ 925 million(Of a total of R$ 6.5 billion)
R$ 806 million(Of a total of R$ 9.2 billion)R$ 806 million(Of a total of R$ 9.2 billion)
24 operations24 operations
6 operations6 operations
Distribution of Fixed Rate Securitiesin the International MarketDistribution of Fixed Rate Securitiesin the International Market
US$ 1 billionUS$ 1 billion 600 operations600 operations
Itaú Corretora (Brokerage House)Itaú Corretora (Brokerage House)R$ 18 billion(Volume Negotiatedin the Bovespa Exchange)
R$ 18 billion(Volume Negotiatedin the Bovespa Exchange)
5.5 million(Contracts Negotiated in the BM&F Exchange)
5.5 million(Contracts Negotiated in the BM&F Exchange)
Services for the Capital MarketServices for the Capital MarketR$ 310 billion(Custody / Management of Financing Assets)
R$ 310 billion(Custody / Management of Financing Assets)
873 contracts873 contracts
BNDESBNDESOn-LendingOn-Lending
EximExim
R$ 1.2 billion(Disbursement)R$ 1.2 billion(Disbursement)
US$ 395 million(Disbursement)US$ 395 million(Disbursement)
1,063 releases1,063 releases
96 releases96 releases
41
• Cost Reduction Program• Cost Reduction Program
Strategies
• Internet• Internet• Customer Basis Expansion • Customer Basis Expansion • Strong Expansion in Personnalité Segment• Strong Expansion in Personnalité Segment• Emphasis on Credit Cards• Emphasis on Credit Cards• Growth in Loans (mainly consumers)• Growth in Loans (mainly consumers)• Segmentation of Specific Channel for Small Companies• Segmentation of Specific Channel for Small Companies• Corporate Banking• Corporate Banking• Strategic Cooperation Itaú - la Caixa • Strategic Cooperation Itaú - la Caixa
42
Caja de Ahorros y Pensiones de Barcelona - “la Caixa”
Banco Itaú S.A.
1 member in the International Advisory Committee
1 Managing Director
3%
Spain is the second largest foreign investor in Brazil
“For Itaú, the strengthening of the alliance with
"la Caixa" means an important
advance in its strategic global positioning in a
context of international
diversification, thus enlarging its
opportunities for new business.”
“For Itaú, the strengthening of the alliance with
"la Caixa" means an important
advance in its strategic global positioning in a
context of international
diversification, thus enlarging its
opportunities for new business.”
Strategic Cooperation Itaú - la Caixa
1 Member of the Board of Directors
43
• Cost Reduction Program• Cost Reduction Program
Strategies
• Internet• Internet• Customer Basis Expansion • Customer Basis Expansion • Strong Expansion in Personnalité Segment• Strong Expansion in Personnalité Segment• Emphasis on Credit Cards• Emphasis on Credit Cards• Growth in Loans (mainly consumers)• Growth in Loans (mainly consumers)• Segmentation of Specific Channel for Small Companies• Segmentation of Specific Channel for Small Companies• Corporate Banking• Corporate Banking• Strategic Cooperation Itaú - la Caixa • Strategic Cooperation Itaú - la Caixa • US Broker Dealer• US Broker Dealer
44
• Cost Reduction Program• Cost Reduction Program
Strategies
• Internet• Internet• Customer Basis Expansion • Customer Basis Expansion • Strong Expansion in Personnalité Segment• Strong Expansion in Personnalité Segment• Emphasis on Credit Cards• Emphasis on Credit Cards• Growth in Loans (mainly consumers)• Growth in Loans (mainly consumers)• Segmentation of Specific Channel for Small Companies• Segmentation of Specific Channel for Small Companies• Corporate Banking• Corporate Banking• Strategic Cooperation Itaú - la Caixa • Strategic Cooperation Itaú - la Caixa • US Broker Dealer• US Broker Dealer• ADR Level II• ADR Level II
45
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
90 91 92 93 94 95 96 97 98 99 00
Banco Itaú *
Bovespa
Real Plan
Russian Crisis
Real Devaluation
Annual Appreciation. 10 years (average) 53.58%. 5 years (average) 33.19%. 2000 12.43%
US$
Mexican Crisis
Asian Crisis
* (without reinvestment of dividends)
Preferred Shares - Appreciation *Evolution of US$ 100 Invested in December 1990
7,328
1,913
46
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
90 91 92 93 94 95 96 97 98 99 00
Banco Itaú *
Bovespa
Real Plan
Russian Crisis
Real Devaluation
Annual Appreciation. 10 years (average) 53.58%. 5 years (average) 33.19%. 2000 12.43%
US$
Mexican Crisis
Asian Crisis
* (without reinvestment of dividends)
Preferred Shares - Appreciation *Evolution of US$ 100 Invested in December 1990
7,328
1,913
“Largest Market Capitalization among all Latin American Banks”
47
March, 2001