conference call third quarter of 2000 conference call third quarter of 2000 october 25, 2000 11:00...
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CONFERENCE CALLCONFERENCE CALLTHIRD QUARTER OF 2000THIRD QUARTER OF 2000
October 25, 2000
11:00 a.m.
Balance Sheets - ConsolidatedBalance Sheets - Consolidated
Jun/00Sep/00
R$ Million
Cash and Cash Equivalents
Money Market
Securities
Interbank Deposits
Credit Operations (*)
Other Assets
Permanent Assets
Provision forLoan Losses
Interbank Funds Applied
Deposits
Borrowing and On-lending Borrowings
Other Liabilities
Minority Interest
Interbank Accounts
Stockholders’ Equity
Liabilities
Total Liabilities
Assets
Total Assets
(*) Not Included Advances on Exchange Contracts.
Var %
Acceptances andDebentures
Money Market Repurchase Commitments
21,888
3,152
5,191
9,912
445
6,353
2,916
4,672
Sep/00 Var %
1,557
14,188
5,613
2,991
Jun/00
54,529 54,529
3,867
2,740
16,833
(1,443)
8,183
1,414 (9.2)
16,224
6,636
(1,516)
2,987
57,233
14.4
18.2
22,106
6,919
2,711
2,426
5,385
10,567
441
6,678
57,233
(0.1)
5.0 5.0
1.0
48.1
(7.0)
(23.0)
3.8
6.6
(0.9)
5.1
17,826 5.9
2,932
2,541
8,189
(24.2)
(7.3)
(5.0)
0.0
2
Income StatementIncome StatementR$ Million
Net Income
Itaú Consolidated
Net Income from Financial Operations Provision for Loan Losses Banking Service FeesSalaries, Employee Benefits and Other Adm. ExpensesEquity Share in Income of Subsidiaries and AffiliatesOther Operating and Non Operating IncomeIncome before taxesExtraordinary ResultsIncome Tax and Social ContributionProfit SharingMinority Interest
1,169(163)
871(1,234)
90(68)666
0 (174)
(40)(16)
3Q00 2Q00 Var (%)
6.2 435
1,268(159)
835(1,251)
96(110)
679(36)
(153)(31)
4
8.5 2.4
(4.2)(1.4)
6.7(59.4)
1.9-
(12.1)(22.5)
(125.0)
462
3
Market Capitalization, Stockholders’ Equity Market Capitalization, Stockholders’ Equity and and Consolidated Net IncomeConsolidated Net Income (1)(1)
18,006
5,563 5,801 5,907 6,125 6,353 6,678
9,91411,109
17,83416,566
17,395
462435365
415360
333
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
2Q99 3Q99 4Q99 1Q00 2Q00 3Q00
0
100
200
300
400
500
600
700
800Consolidated Stockholders' Equity
Market Capitalization
Consolidated Net Income
R$ Million
1) Net Income of Quarter; Stockholders’ Equity and Market Capitalization as of period ended.
4
3.03.1 2.9 2.9 2.8 2.714.5 15.5 17.1 17.4 18.7 19.6
Jun.99 Sep.99 Dec.99 Mar.00 Jun.00 Sep.00
Mortgage Others
HIGHLIGHTS HIGHLIGHTS R$ Billion(*)
(*) Balance at the end of period
(1) Including Matrix Funds
56.3 54.3 51.9 54.1 54.5 57.2
0
20
40
60
80
Jun.99 Sep.99 Dec.99 Mar.00 Jun.00 Sep.00
TOTAL ASSETS LOANS
21.420.1
23.222.1 21.8 22.1
0
5
10
15
20
25
Jun.99 Sep.99 Dec.99 Mar.00 Jun.00 Sep.00
DEPOSITS
27,2 28,0 32,0 34,1 37,3 39,7
0
10
20
30
40
Jun.99 Sep.99 Dec.99 Mar.00 Jun.00 Sep.00
ASSET MANAGEMENT (1)
17.6 18.5 20.0 20.2 21.6 22.2
5
226 333 437 522365 435 498
535
(77) (107) (36)
(200)
(100)
0
100
200
300
400
500
600
700
800
900
1st Q 99 2nd Q 99 3rd Q 99 4th Q 99 1st Q 00 2nd Q 00 3rd Q 00
Net Recurring Income Extraordinary Results
Statements of IncomeStatements of Income
761
360415 462
Net Income(Million)
6
6,46
2,82 3,06 3,52 3,10 3,70 3,92
0
1
2
3
4
5
6
7
8
9
10
1stQ 99 2ndQ 99 3rdQ 99 4thQ 99 1stQ 00 2ndQ 00 3rdQ 00
Consolidated Net Incomeper Thousand Shares
R$
Excellent PerformanceExcellent Performance
(*) Annualized
2,9%
ROE
-5.2% -7.0%-2.2%
40.3%26.1% 33.3%26.2% 33.8% 30.3%
-10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
2Q99 3Q99 4Q99 1Q00 2Q00 3Q00
Extraordinary Recurring
ROA
-0.6% -0.9%-0.3%
2.4% 3.5%2.7%4.1%
3.2%3.3%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
2Q99 3Q99 4Q99 1Q00 2Q00 3Q00
Extraordinary Recurring
26.2%27.3%
31.2%
26.1% 30.3%2.4% 2.7%
3.2%2.7% 3.2%30.7% 3.3%
7
Net Interest MarginNet Interest MarginR$ Million
Itaú Consolidated
Loans and Leases Securities Portfolio Trade Finance and Foreign Exchange Portfolio Compulsory DepositsIncome from Financial OperationsExpenses from Financial OperationsFinancial Margin
Average Loans Average Earning Assets Average Funding Resources
Annual Average Rate of Income from Loans and Leases
Annual Average Rate of Income from Financial Operations
Annual Average Rate of Expenses from Financial Operations
Annual Average Rate of Financial Margin
2Q00
17,81345,65237,676
3Q00
1,1498752747
2,099(930)1,169
25.8%18.4%(9.9)%10.7%
17,81345,65237,676
1,1699321745
2,163(894)1,268
18,69247,54938,683
25.0%18.2%(9.2)%11.1%
8
Changes in the Valuation Allowance for SecuritiesChanges in the Valuation Allowance for Securities
R$ Thousand
R$ Thousand
Balances as of September 30, 2000
Balances as of December 31, 1999
ConstitutionWrite-offs:. Reversals. Losses for sales
902,301
14,971(32,206)(19,892)(12,314)
Minimum Provision Required
Additional provision
885,066
139,166
745,900
Securities and interbank deposits
Valuation allowance
Net Book Value
17,831,953
(903,463)
16,928,490
06/30/2000Summary 09/30/2000
19,650,220
(885,066)
18,765,154
9
19,151
16,89012,325
8,022
3,958 5,531
11,572
6,328
22,215
19,59614,127
9,057
4,6345,846
11,798
6,366
0
2.000
4.000
6.000
8.000
10.000
12.000
14.000
16.000
18.000
20.000
22.000
82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 2000( ** )
R$ Million *
Credit Operations
Sep.00 Jun.00 Var (%)Loans 17,076 16,187 5.5 Leasing 751 647 16.1 O.Receivable 179 166 7.8AEC 1,146 1,234 (7.1)Sub-total 19,151 18,233 5.0 Guarantees 3,064 3,339 (8.2)Total 22,215 21,572 3.0
Credit Operations
Sep.00 Jun.00 Var (%)Loans 17,076 16,187 5.5 Leasing 751 647 16.1 O.Receivable 179 166 7.8AEC 1,146 1,234 (7.1)Sub-total 19,151 18,233 5.0 Guarantees 3,064 3,339 (8.2)Total 22,215 21,572 3.0
Credit Operations (1)
Credit Operations and Guarantees (2)
( * * ) June 30, 2000.
( 1 ) Credit Operations: Loans, Leasings, Other Receivables and Advances on Exchange Contracts (AEC)( 2 ) Guarantees: Endorsements, Sureties and Other Guarantees
( * ) In currency of Constant Purchasing Power as of December 31, 1995 until then, after which the calculation will be made in accordance to the Corporation Law
Credit Operations (**)
10
Risk
AAABCDEFGH
Balance %
0.0% 0.5% 1.0% 3.0% 10.0% 30.0% 50.0% 70.0% 100.0%
Specific
Provision (1)
Generic
Provision (2)
Total 18,233 438 389
Excess
Provision
616
Total
Provision
1,443
Risk
AAABCDEFGH
Balance %Specific
Provision (1)
Generic
Provision (2)
Total 19,151 500 399
Excess
Provision
616
Total
Provision
1,516
5,483 7,100 3,307 1,598 547 284 327 85 420
0.0% 0.5% 1.0% 3.0% 10.0% 30.0% 50.0% 70.0% 100.0%
0 0 3 7 12 26 48 57 348
0 35 31 41 43 59 116 2 72
09/30/2000
Provision For Loan Losses - Res. 2682Provision For Loan Losses - Res. 2682
R$ Million
R$ Million 0 34 30 38 39 58 116 2 72
0 0 4 7 12 25 53 55 281
4,932 6,769 3,456 1,514 514 275 339 80 353
0 0 0 304 113 59 118 23 0
09/30/2000
0 0 0 302 107 59 126 22 0
11
12
Credit Operations QualityCredit Operations Quality
83.0%83.1%83.0%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
03.31.00 06.30.00 09.30.00
Credit Operations Quality AA, A e B
Credit risk is managed in a consolidated and centralized manner. All credit operations receive a rating, and 83% of
Credit Operations are ranked in the following categories: AA, A and B.
10.7
1.3
12.0
2,381
278
2,659
Credit Portfolio Development Consolidated by Client TypeCredit Portfolio Development Consolidated by Client Type
Client
Corporate
Small and Medium-Sized Companies
Individuals
Credit Cards
Sub-Total
57.5
6.0
15.8
7.5
86.8
09/30/00 06/30/00 % Var %%
R$ Million
2,479
363
2,842
11.5
1.7
13.2
Real Estate
TOTAL 22,215 21,572 100.0100.0
Individuals
Businesses
Total
12,409
1,287
3,414
1,619
18,729
77
176
434
140
827
0.6
13.6
12.7
8.7
4.4
(98)
(85)
(184)
(4.0)
(23.4)
(6.5)
3.0643
56.2
6.6
17.3
7.9
88.0
12,486
1,463
3,848
1,759
19,556
13
1.9
3.8
(3.4)
(89.2)
8.1
4.2
1.4
(9.2)
Banking Services FeesBanking Services FeesR$ Million
Total
Itaú Consolidated
Mutual Fund Management Fees
Collection Fees
Current and Savings Account Service Fees
Collection Fees Agreements with Public Co.
Interbank Tariff
Loans
Credit Cards
Other Services
3Q00 Var %
208
52
145
37
37
48
214
130
2Q00
Total 871 (4.1)
212
54
140
4
40
50
217
118
835
14
Excellent PerformanceExcellent Performance
BIS RATIO
20.8%20.9% 21.0% 19.6% 20.2%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
3Q99 4Q99 1Q00 2Q00 3Q00
EFFICIENCY RATIO
58.4%58.6%56.6%57.3%
63.2%
57.5%
52,0%
54,0%
56,0%
58,0%
60,0%
62,0%
64,0%
2Q99 3Q99 4Q99 1Q00 2Q00 3Q00
The solvability ratio in the third quarter reached 20.2%,
based on the financial conglomerate, and 18,3% based
on the company conglomerate.
15
0
1.000
2.000
3.000
4.000
5.000
6.000
7.000
8.000
SEP-90 DEC-91 DEC-92 DEC-93 DEC-94 DEC-95 DEC-96 DEC-97 DEC-98 DEC-99 SEP-00
* Without Reinvestment* Without Reinvestment
ANNUAL APPRECIATIONANNUAL APPRECIATION. 10 years (Average). 10 years (Average) 52.96 % 52.96 %. 5 years (Average). 5 years (Average) 28.09 % 28.09 %. 12 months (Average). 12 months (Average) 77.11 % 77.11 %. 2000 3.71 % . 2000 3.71 %
ANNUAL APPRECIATIONANNUAL APPRECIATION. 10 years (Average). 10 years (Average) 52.96 % 52.96 %. 5 years (Average). 5 years (Average) 28.09 % 28.09 %. 12 months (Average). 12 months (Average) 77.11 % 77.11 %. 2000 3.71 % . 2000 3.71 %
ITAÚITAÚ BOVESPABOVESPA
PREFERRED SHARES - APPRECIATION *PREFERRED SHARES - APPRECIATION *EVOLUTION OF US$ 100 INVESTED IN SEPTEMBER OF 1990EVOLUTION OF US$ 100 INVESTED IN SEPTEMBER OF 1990
7,035
1,145100
Collor Plan
Real Plan
Mexican Crisis
Asian Crisis
Russian Crisis
Real Devaluation
US$US$
16
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