3Q15 INSTITUTIONAL PRESENTATION

Transcription

1 3Q15 INSTITUTIONAL PRESENTATION

2 Brazilian Credit Market GDP and Credit Growth YoY Loans/GDP -by Type of Financial Intitutional Loans/ GDP by Type of Financial Institution 8.1% 18.1% 8.2% 18.0% 8.2%% 17.4% 8.0% 7.9% 17.3% 16.6% 20.3% 24.1% 27.0% 29.4% 30.6% Sep-15 Public Privite Nacional Foreign Credit Portfolio Growth Daycoval and Financial System (%) Foreign Exchange Reserves (USD Bilion) Foreign Exchange Reserves (USD Bilion) Sep-15 Source: Brazilian Central Bank (Banco Central do Brasil BCB) and Daycoval. Methodology Change in Aug/5. 2

3 Historic Developments Upgrade to BBB- by Fitch Begin building commercial banking portfolio Issuance of USD225mn in Eurobonds Upgrade to Bovespa s Level 2 of Corporate Governance Second issuance of Letras Financeiras 1 Public offer for the acquisition of Shares and exit from Level 2 Syndicated loan (A/B Loan) of approximately US$ 200 million Beginning of activities in Brazil through Daycoval DTVM Beginning of auto loan activities Issuance of USD300mn in Eurobonds Inauguration of Daycoval s 1 st branch I.P.O. Issuance of BRL410mn in convertible bonds Maison Bancaire is founded by Salim Dayan in Lebanon Creation of the Daycoval Asset Management Beginning of payroll-deduction activities Upgrade to Baa3 by Moody s Issuance of USD300mn in Eurobonds Daycoval is the first bank to issue public Letras Financeiras 1 Issuance of USD500mn in bonds 4º Issuance of Local Bonds (Letras Financeiras) of R$ 350mn Acquisition of Banco CIT Brasil 2 Note: 1. Letras Financeiras are a type of local market Bonds issued exclusively by financial institutions 2 Waiting for approval of the Central Bank of Brazil.. 3

4 Corporate Governance Board of Directors Board of Executive Officers Capital Structure - 3Q15 (%) Capital Structure Sep/15 (%) Name / Title Years at Daycoval Salim Dayan, Executive Officer 21 Carlos Moche Dayan, Executive Officer 19 Morris Dayan, Executive Officer 20 Ricardo Gelbaum, Investor Relations Officer 3 Albert Rouben, Officer 21 Regina Maciel Nogueira, Officer 22 Nilo Cavarzan, Officer 10 Alexandre Rhein, Officer 9 Alexandre Teixeira, Officer % Controlling Shareholders (Family) 0.5% 2.2% 72.1% Officers/Directors + Daycoval Expert Treasury Free-Float Total Share Common Shares Preferred Shares Free-Float 245,355, ,869,792 84,485,997 61,731,467 4

5 Five Pillars: Launch of the new corporate website of Banco Daycoval Daycoval seeks to be recognized as an economically strong, socially responsible and environmentally sustainable company. Daycoval s sustainability project was translated in well-defined strategies, and started to be applied as a strategic plan. The plan is based in five great pillars. Efficiency Knowledge Quality of Life Sustainability Social Assistance Launch of the new corporate website of Banco Daycoval 5

6 Highlights Recurring Net Income R$ million R$ million 26.1% (3Q15/2Q15) 26.8% (9M15/9M14) Net Income of R$ 85.6 million in the quarter, an increase of 2.8% compared to 2Q15. Accrued for the year, the Income was R$ million, 48.6% higher than 9M14. ROAE -Adjusted and Recurring (p.a.) 3.0 p.p. (3Q15/2Q15) 15.2% 2.2 p.p. (9M15/9M14) Annualized 9M15: 13.4% NIM-AR (1) (p.a.) -1.9 p.p. (3Q15/2Q15) 11.8% 0.4 p.p. (9M15/9M14) Annualized 9M15: 12.8% Expanded Loan Portfolio The ROAE was 12.8 % p.a. and in 9M15 it was 13.9% p.a. Funding reached a balance of R$ 16.2 billion, an increase of 10.9% compared to 2Q15 and 25.7% versus 3Q14. In July/15 we obtained a Syndicated Loan (A/B Loan) from the IIC and 12 banks in the amount of approximately US$ 200 million, maturing in up to five years. We ended the quarter with a 110.6% E-H rating portfolio coverage level (balance of LLP/E-H Portfolio). R$ 13.1 billion -1.3% (3Q15/2Q15) 12.6% (9M15/9M14) Reduction of personnel and administrative expenses by 5.7% in the quarter. Shareholder's Equity R$ 2.7 billion 0.7% (3Q15/2Q15) 7.4% (9M15/9M14) Launching of the new corporate website of the bank- (1) Includes exchange-rate variations on liability operations, foreign trade, the purchase of credit rights and excludes the result of property protection operations, DAYC4 swaps, portfolio transfers to other banks and matched operations repurchase agreements-tri-party repos outstanding. 6

7 Expanded Loan portfolio reaches 13.1 bi, reduction of 1.3% in the quarter. Expanded Loan Portfolio R$ mn Expanded Loan Portfolio (R$ mn) 3Q15 2Q15 Chg. % 3Q14 Chg. % Companies 5, , % 4, % Receivables Purchas e , % 1, % Avals and Sureties % % Total Expanded Companies 7, , % 6, % Total Payroll Loans 5, , % 4, % Total Auto Loans % % Total DCC/Other % % Total Expanded Loan Portfolio 13, , % 11, % Breakdown Breakdown Loan Loan Portfolio Portfolio 3Q15 (*) 3Q15 Expanded Expanded Loan Portfolio Loan Portfolio- R$ mn (R$ mn) 1% 5% Companies Payroll Loans 11,627 12,780 13,384 13,263 13,093 39% 55% Auto Loans DCC 3Q14 4Q14 1Q15 2Q15 3Q15 7

8 Companies Portfolio: 94% of active clients with sales less than R$ 300 mn/year. Highlights 40 Branches Opening of new branch in Blumenau - SC Companies portfolio reduced 2.4% in the quarter and grew 8.7% compared to 3Q14 63% of the balance due is from clients with sales up to R$ 300 mn/year 94% of active clients with sales less than R$ 300 mn/year Companies Portfolio R$ mn Companies Portfolio- (R$ mn) 7,462 7,572 6,579 7,328 7,149 86% of the tickets are lower than R$ 500,000 94% of the clients have a balance due lower than R$ 5 mn Diversification of clients and sectors: 10 largest clients represented 5.4% of the credit portfolio 3Q14 4Q14 1Q15 2Q15 3Q15 50 largest clients represented only 13.7% of the portfolio No single segment represents more than 10% of the credit portfolio Provision: 7.1% and NPL: 1.3% Collateral Breakdown Collateral Loans to Companies - Outstanding Operation - Loan Portfolio (September/15) Outstanding Operation - (September/15) 6% 3%3% 5% 8% 14% 61% Receivables Real Estate Financial Investments Vehicles Agricultural Products 32% 13% 3% 52% Maturity of 52% over the next 90 days Equipments / Foreign goods Others Up to 3 months From 3 to 12 months From 1 to 3 years From 3 to 5 years 8

9 Companies Portfolio: Diversification of the sectorial breakdown. Breakdown Companies R$(mn) 3Q15 Chg. % 2Q15 Worki ng Ca pi ta l 3, % Gua ra nteed Account 1, % Receivables Purchase % Tra de Fi na nce % Avals and Sureties Cross- Selling % BNDES % Total Companies 7, % 12% 12% Sectors Breakdown-3Q15 Companies Portfolio Breakdown 3Q15 6% 4% 66% Working Capital/Guaranteed Account Receivables Purchase Trade Finance Aval and Sureties BNDES Concentration by Sector Commerce 20.7% Food and Cereal Wholesaler 4.0% Services 29.4% Highway Transportation 3.6% Industry 43.1% Sugar and Alcohol Mill 4.3% Export and import of Sugar 1.2% Real Estate Development 3.1% General Electronic Products 2.4% Products For Agriculture 1.1% Holding Company 2.6% Light Vehicles 2.2% New Vehicles 0.9% Managing its own assets 1.5% Cement 1.7% products Apparel 0.8% Net working Station 1.5% Vehicles and Auto parts 1.6% Others 12.7% Others 17.1% (1) (1) (1) Others 30.9% (1) Others represent a lower share than the last ones cited in the sub-sector 9

10 Payroll Loans: Balance of R$ 5,048 million. Highlights Number of contracts in the portfolio: 3Q15: 1.104,000 Total Payroll Loan (*) R$ mn Payroll Portfolio (R$ mn) Average ticket: R$ 5,000 Portfolio Duration: 24 months 4,189 4,441 4,908 5,031 5,048 Average Interest Rate (year): 31.35% Number of Promoters: 1,059 Refinancing Origination (Refin): 47% 3Q14 4Q14 1Q15 2Q15 3Q15 46 own stores-ifp: 17.5% share of sales Provision: 2.3% and NPL: 0.4% (*) Includes credit assignment in all of the quarters (R$ 0.6 mn in 3Q15) Payroll Origination Portfolio Origination Monthly Average Média da Originação - (R$ MM) Q14 4Q14 1Q15 2Q15 3Q15 Net Origination Gross Origination Net Origination Gross Origination Breakdown Breakdown Payroll Loan of Payroll (*) R$ 5,048-3Q15mn (includes credit assignments) 6.9% 8.2% 0.1% 12.2% 0.7% 0.3% 2.2% 28.2% 41.2% INSS State Government Army Government /SIAPE Municipalities Courts Debit Account Others Private 10

11 Daycred Auto Loans: Stable compared to 2Q15. Highlights Number of contracts in the portfolio 3Q15: 112,900 Average ticket: R$ 6,900 with minimum down payment of 30% Portfolio Duration: 15 months Average Interest Rate (year): 35.0% Auto Loan Portfolio R$ mn Auto Loan Portfolio (R$ mn) Vehicle average age: 10 years Number of Promoters: 100 Portfolio distribution: 72% small vehicles Focused on the Southeast 3Q14 4Q14 1Q15 2Q15 3Q15 Provision: 8.6% and NPL: 2.0% Origination Auto Loans of Auto Origination Loan Portfolio (R$ mn) R$ mn Loans Auto - Outstanding Operation - (September/15) Loans Auto - Outstanding Operation (September/15) 3% % 22% Maturity of 97% over the next 3 years 3Q14 4Q14 1Q15 2Q15 3Q15 39% Up to 3 months From 3 to 12 months From 1 to 3 years From 3 to 5 years 11

12 154 points of Sale and diversified products. Manages 42 funds; Funds Administered / managed totaling R$ 2.1 billion. 31 Exchange Bureaus; operations and turnover of R$ million in the quarter. 46 stores operating throughout in Brazil; 17.5% share of sales; 256 employees. 37 service units in the state of São Paulo; Processed 1,752,000 payment slips in 2Q15 versus 1,820,000 payment slips in 3Q14. 12

13 Funding: Growth of funding was 10.9% in the quarter and 25.7% compared to 3Q14 Funding (R$ mn) 3Q15 2Q15 Chg. % 3Q14 Chg. % Deposits 4, , % 3, % Letter of Credit - LCI + LCM % % Total Deposits + LCI + LCM 5, , % 4, % Individuals % % Institutional 3, , % 2, % Institutional - Public Offerings % % Local Bonds (Letras Financeiras) 3, , % 3, % Loan Portfolio by Segment 3, , % 2, % Bonds Issued Abroad (Private Placement) % % Foreign Issuances 3, , % 2, % Foreign borrowings 2, , % 1, % Domestic onlendings % % Borrowing and Onlending 3, , % 1, % Total 16, , % 12, % Total Funding Funding R$ (R$ mn mn) 16,190 12,881 13,636 13,795 14,601 36% 35% 33% 35% 37% 24% 29% 28% 29% 28% 21% 23% 24% 19% 20% 13% 15% 17% 15% 19% 3Q14 4Q14 1Q15 2Q15 3Q15 Borrowing and Onlending Foreign Issuances Local Bonds Total Deposits + LCA + LCM September/15 Breakdown of Time 4% 3% 8% 17% 25% 43% 13

14 Funding: Syndicated loan (A / B Loan) in the amount of approximately US$ 200 million. Ratings Syndicated Loan (A/B Loan) 14

15 Available cash of R$ 5.1 billion and positive gap of 11 days. Outstanding Operations (September/15) 6,064 2,825 4,111 3,588 4,607 3,255 2,255 1, Up to 3 months From 3 to 12 months From 1 to 3 years From 3 to 5 years Funding Loan Portfolio Over 5 years Average Term of Loan Portfolio: 425 Carteira de Crédito - Operações a Vencer (Setembro/15) Average Term of Funding: Captação - Operações a Vencer 436 (Setembro/15) Outstanding Operations (Loan Portfolio) - 3Q15 -% Outstanding Operations (Funding) 3Q15 - % 10% 4% 14% 18% 26% 32% Maturity of 60% over the next 12 months 29% Maturity of 57% over the next 12 months 28% Até 3 meses De 3 a 12 meses De 1 a 3 anos De 3 a 5 anos Acima de 5 anos 39% Até 3 meses De 3 a 12 meses De 1 a 3 anos De 3 a 5 anos Acima de 5 anos 15

16 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 Ratio of the loan portfolio provision at 5.3%. Total Provision / Loan Portfolio(%) Total Provision / Loan Portfolio (1) - (%) Evolution LLP / Portfolio by Segment (%) Companies Total Middle Portfolio Market Provision Provision(%) (1) -(%) Total Payroll Payroll Provision-(%) Provision(%) Total Auto (%) Auto Provision- (%) (1) Includes Receivables purchase 16

17 LLP Balance / Portfolio EH(%) of 110.6% Establishment of Provision - R$ mn 3Q14 4Q14 1Q15 2Q15 3Q15 9M14 9M15 Companies Portfolio (1) Payroll Auto DCC + Other Total Loan Portfolio E-H - R$ Mn 3Q14 4Q14 1Q15 2Q15 3Q15 Companies (1) Payroll Auto DCC + Other (1) Total LLP Balance/Portfolio EH - (%) 99.8% 110.9% 109.9% 108.7% 110.6% Balance and Estabilishment of Provision R$ mn Balance and Estabilishment of Provision (*) - R$ mn Saldo e Provisão Constituída - (R$ MM) Saldo e Provisão Constituída - (R$ MM) Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Saldo 1Q14 de Provisão 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 Balance of Provision Establishment of Provision (1) Includes Receivables purchase to Companies Portfolio and DCC. (*) Unconsolidated Write-offs - R$ Mn 3Q14 4Q14 1Q15 2Q15 3Q15 9M14 9M15 Companies (53.7) (72.4) (67.2) (43.7) (42.6) (283.0) (153.5) Retail (32.9) (35.0) (35.3) (35.5) (37.0) (95.6) (107.7) Total (86.6) (107.4) (102.5) (79.2) (79.6) (378.6) (261.2) 17

18 LLP - Recovered Loans Recovered Loans LLP (-) Recovered Loans 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 9M14 9M15 Establishment of Provision Recovered Loans of Establishment of Provision LLP (Net Recovered Loans of Establishment of Provision)

19 NPL, loans overdue by more than 90 days reaches 1.0% in 3Q15, well below the market average. Overdue Loans (1) 3Q15 Chg. % 2Q15 Chg. % 3Q14 Overdue Loans more than 90 days past due- R$mn % % Companies Portfolio % % 79.9 Payroll % % 17.2 Auto % % 12.0 DCC + Other % % 4.1 LLP Balance / Overdue Loans > 90 days (%) 528.2% 551.4% 407.1% Overdue Loans > 90 days/loan Portfolio 1.0% 0.8% 1.0% Companies Portfolio 1.3% 1.0% 1.3% Payroll 0.4% 0.4% 0.4% Auto 2.0% 1.7% 1.6% Vencidos há mais de 90 dias % 10 Past due operations more than 90 days (%) Past due operations more than 90 days % % 2.2% 1.9% 2.0% 1.5% 1.6% 1.0% 1.4% 0.8% 0.7% 1.0% 1.0% 0.8% 1.0% 0.8% 0.7% 0.8% 1.0% 6% 5% 4% 3% 2% 1% 5% 4% 3% 2% 1% -25 1Q12 2Q12 3Q14 3Q12 4Q12 1Q13 4Q14 2Q13 3Q13 4Q131Q15 1Q14 2Q14 3Q142Q Q14 1Q15 2Q153Q15 3Q15 0% 0% Vencidos há mais de 90 dias (R$MM) Past due operations > 90 days (R$mn) Past due operations > 90 days / Loan Portfolio Creditos Vencidos há mais de 90 dias / Carteira de Crédito (1) Includes Receivables purchase to Companies Portfolio and DCC. (*) Unconsolidated 19

20 Reduction of personnel and administrative expenses by 5.7% in the quarter. Recurring Efficiency Ratio (R$ mn) 3Q15 2Q15 Chg. % 3Q14 Chg. % 9M15 9M14 Chg. % Personnel Expenses (63.3) (66.8) -5.2% (56.0) 13.0% (192.4) (154.1) 24.9% Administrative Expenses (64.1) (68.3) -6.1% (55.7) 15.1% (197.5) (147.5) 33.9% Personnel and Administrative Expense (127.4) (135.1) -5.7% (111.7) 14.1% (389.9) (301.6) 29.3% Commission Expenses (Total) (50.1) (52.9) -5.3% (65.8) -23.9% (156.3) (197.0) -20.7% Payroll (37.1) (39.0) -4.9% (51.3) -27.7% (114.9) (156.5) -26.6% Auto Loans (8.9) (10.0) -11.0% (8.3) 7.2% (29.6) (23.9) 23.8% Direct Credit to Consumer (DCC) + Others (0.8) (0.6) 33.3% (1.1) -27.3% (1.9) (2.7) -29.6% Daytravel (3.3) (3.3) 0.0% (5.1) -35.3% (9.9) (13.9) -28.8% Total (177.5) (188.0) -5.6% (177.5) 0.0% (546.2) (498.6) 9.5% Recurring Efficiency Ratio (%) 32.5% 32.9% -0.4 p.p 39.5% -7.0 p.p 33.8% 37.2% -3.4 p.p Recurring Efficiency Ratio (considering Profit Sharing) (%) 35.5% 35.8% -0.3 p.p 41.7% -6.2 p.p 36.7% 39.3% -2.6 p.p Recurring Efficiency Ratio% Índice de Eficiência Recorrente% Q14 4Q14 1Q15 2Q15 3Q15 20

21 Basel Index and Shareholder s Equity Basel Index III-% (1) - Tier I BIS Ratio (%) Shareholder's Equity (R$ mn) Shareholder's Equity (R$ mn) 2,481 2,523 2,595 2,646 2,665 3Q14 4Q14 1Q15 2Q15 3Q15 3Q14 4Q14 1Q15 2Q15 3Q15 Change in Shareholder s Equity 3Q15 (1) Basel Index 3 minimum 11% required by the Central Bank. 21

22 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 9M14 9M15 NIM-AR of 12.8 % in 9M15 Recurring Adjusted Net Interest Margin (NIM-AR) (%) 3Q15 2Q15 3Q14 9M15 9M14 Income from Financial Intermediation adjusted by Loan Loss Provision and Exchange Rate Variation R$ (mn) , ,210.1 Hedge/MTM R$ (mn) (194.3) 10.3 (45.0) (176.3) (46.1) Hedge Interest rate (DI) R$ (mn) 55.9 (1.2) Recurring Adjusted Income from Financial Intermediation (A) R$ (mn) , ,254.0 Average Remunerated Assets R$ (mn) 18, , , , ,530.6 (-) Expenses of financial intermediation add back provisions R$ (mn) (636.2) (840.5) (743.1) (814.8) (834.9) Average Remunerated Assets (B) R$ (mn) 18, , , , ,695.7 Recurring Adjusted Net Interest Margin (NIM-AR) (%p.a.) (A/B) 11.8% 13.6% 12.2% 12.8% 12.4% Margem Financeira Líquida Ajustado e Recorrente (NIM-AR) - (% a.a.) Adjusted Net Interest Margin and Recurring-(NIM-AR) (*) - (%) (*) Methodology includes exchange-rate variations on liability operations, receivables purchase and excludes the result of property protection operations, DAYC4 swaps and matched operations- repurchase agreements-triparty repos outstanding. 22

23 Recurring Return on Average Equity (ROAE) of R$ 13.4% in 9M Recurring Net Net Income Income (R$- mn) (RS mn) Recurring Key Figures (R$ mn) 3Q15 2Q15 3Q14 9M15 9M14 Net Income Majoração CSL Hedge/MTM (R$ mn) (110.8) 6.2 (27.0) (100.0) (27.7) Hedge Interest rate (DI) (R$ mn) 32.0 (0.8) Equivalence Exchange Variation 22.8 (2.7) Adjusted Net Income Q14 4Q14 1Q15 2Q15 3Q15 9M14 9M15 Return on Average Equity (ROAE) Recurring - (% p.a.) Return on Average Equity (ROAE) Adjusted and Recurring-(%) Return on Return Average on Average Assets (ROAA) Assets (ROAA) Adjusted Recurring and Recurring - (% p.a.) - (%) Q14 4Q14 1Q15 2Q15 3Q15 9M14 9M15 3Q14 4Q14 1Q15 2Q15 3Q15 9M14 9M15 Net Net Income - (R$ (R$ mn) mn) Return on Average Equity (ROAE) - (% p.a.) Return on Average Equity (ROAE)-(%) Q14 4Q14 1Q15 2Q15 3Q15 9M14 9M15 3Q14 4Q14 1Q15 2Q15 3Q15 9M14 9M15 (*) Methodology includes exchange-rate variations on liability operations, receivables purchase and excludes the result of property protection operations, DAYC4 swaps and matched operations- repurchase agreements-triparty repos outstanding.

24 Balance Sheet Amounts in R$ 000 Assets 3Q15 2Q15 3Q14 Current Assets 14,014,133 12,774,032 10,865,415 Cash and Cash Equivalents 122, , ,793 Interbank Investments 4,793,997 3,644,336 2,831,578 Securities and Derivatives 530, , ,391 Interbank Accounts 192, , ,226 Lending Operations 6,015,349 5,966,530 4,958,105 Other Receivables 2,174,782 2,102,846 2,097,152 Other Assets 184, , ,170 Long-Term Assets 8,051,416 7,641,403 6,904,646 Interbank Investments 17, , Securities and Derivatives 1,601,646 1,163,342 1,259,371 Lending Operations 4,679,498 4,778,296 4,104,329 Other Receivables 1,504,597 1,414,376 1,324,208 Other Assets 248, , ,738 Permanent 25,317 28,469 30,900 Investments Property and Equipment in Use 24,442 27,597 30,045 Intangible Total Assets 22,090,866 20,443,904 17,800,961 Liabilities 3Q15 2Q15 3Q14 Current Liabilities 10,958,548 9,731,108 8,306,275 Deposits Atualizar 3,198,376 3,115,542 2,965,536 Money Market Funding 690, , ,849 Funds from Acceptance and Issuance of Securities 4,074,005 3,722,548 3,046,987 Interbank Accounts 10,151 10,100 12,057 Interbranch Accounts 25,605 29,285 23,147 Borrowings and Onlendings 2,031,963 1,366,500 1,071,397 Derivatives 47,217 16,404 10,059 Provisions of Insurance and Pension Plans 40,685 40,313 35,356 Other payables 840, , ,887 Long-term Liabilities 8,448,242 8,053,668 7,002,213 Deposits 1,588,653 1,454, ,248 Funds from Acceptance and Issuance of Securities 4,193,135 4,126,957 4,173,938 Borrowings and Onlendings 1,104, , ,252 Derivatives 6,745 3,006 4,067 Other Payables 1,555,652 1,653,723 1,200,708 Deferred Income 18,670 12,074 10,999 Minority Interest Shareholders Equity 2,664,567 2,646,249 2,480,695 Capital of Brazilian Residents 1,892,143 1,892,143 1,892,143 Capital Reserves 927 1, Revaluation Reserves Profit Reserves 830, , ,821 Securities and Derivatives Available for Sale (46,209) (15,650) (12,661) ( - ) Treasury Stocks (12,835) (14,779) (29,506) Total Liabilities 22,090,866 20,443,904 17,800,961 24

25 Income Statement Income Statement 3Q15 2Q15 Var. % 3Q14 Var. % 9M15 9M14 Var. % Income from Financial Intermediation 2,089, , % 1,017, % 4,431,289 2,025, % Lending Operation 842, , % 595, % 2,229,475 1,637, % Securities Operations 204, , % 110, % 452, , % Derivatives 854,927 (144,788) n.a. 233, % 1,396,559 (18,962) n.a. Foreign Exchange Operations 187,489 15,300 n.a. 78, % 352, , % Expenses of Financial Intermediation (1,928,008) (440,812) 337.4% (814,797) 136.6% (3,744,974) (1,576,838) 137.5% Funding Expenses (1,219,279) (264,985) n.a. (573,879) 112.5% (2,428,480) (1,055,666) 130.0% Borrowing and Onlendings (538,596) 41,174 n.a. (133,185) 304.4% (809,592) (161,510) n.a. Operations Sale or Transfer of Financial Assets (14,258) (8,570) 66.4% % (28,914) % Loan Losses Provisions (155,875) (208,431) -25.2% (107,733) 44.7% (477,988) (359,662) 32.9% Gross Profit from Financial Intermediation 161, , % 202, % 686, , % Other Operating Income (Expenses) (113,747) (117,279) -3.0% (116,325) -2.2% (333,088) (139,984) 137.9% Income from Services Provided 26,610 26, % 26, % 80,785 73, % Income from Insurance % % 2,686 2, % Personnel Expenses (63,279) (66,766) -5.2% (56,020) 13.0% (192,375) (154,084) 24.9% Other Administrative Expenses (114,249) (121,258) -5.8% (121,491) -6.0% (353,777) (344,475) 2.7% Tax Expenses (25,136) (27,079) -7.2% (23,266) 8.0% (80,175) (68,633) 16.8% Other Operating Income 113, , % 97, % 370, , % Other Operating Expenses (51,982) (53,016) -2.0% (40,744) 27.6% (160,916) (132,524) 21.4% Income from Operation 47, , % 86, % 353, , % Non-operating Expenses 3,992 (2,476) n.a. (4,331) n.a. (1,417) (9,844) -85.6% Income before Taxes and Minority Interest 51, , % 82, % 351, , % Income and Social Contribution Taxes 50,332 (32,662) n.a. (20,630) n.a. (31,147) (86,090) -63.8% Provision for Income Tax (24,705) (57,743) -57.2% (33,966) -27.3% (123,420) (71,245) 73.2% Provision for Social Contribution Tax (16,641) (34,837) -52.2% (20,574) -19.1% (76,150) (43,011) 77.0% Deferred Taxes 91,678 59, % 33, % 168,423 28,166 n.a. Profit-Sharing (16,689) (16,693) 0.0% (9,687) 72.3% (46,643) (28,056) 66.2% Minority Interest (15) (11) n.a. (15) n.a. (44) (44) n.a. Net Income 85,564 83, % 51, % 273, , % Interest on Shareholders Equity (39,052) (36,546) 6.9% (30,384) 28.5% (109,692) (90,909) 20.7% Earnings per Share n.a n.a n.a. Number of Shares 243,995, ,790,032 n.a. 245,228,249 n.a. 243,995, ,228,249 n.a. Amounts in R$

26 3Q15 Institutional Presentation Investor Relations Ricardo Gelbaum +55 (11) Erich Romani +55 (11) Susie Cardoso +55 (11) "This material may include estimates and forward-looking statements. These estimates and forward-looking statements are to a large extent based on current expectations and projections about future events and financial trends that affect or may come to affect the Bank's business. Many important factors may adversely affect the results of Banco Daycoval as described in management's estimates and forward-looking statements. These factors include, but are not limited to, the following: the performance of the Brazilian and international economies; fiscal, foreign-exchange and monetary policies; increasing competition in the companies segment; Banco Daycoval's ability to obtain funding for its operations; and changes to Central Bank rules and regulations. The words "believe," "may," "could," "seek," "estimate," "continue," "anticipate," "plan," "expect" and other similar words are used to identify estimates and projections. Considerations involving estimates and forward-looking statements include information relating to results and projections, strategies, competitive positioning, the industry environment, growth opportunities, the effects of future regulation, and the effects of competition. Such estimates and projections are valid only at the time of writing. Daycoval does not undertake to publish updates or review any of these estimates in response to new information, future events or other factors. In light of the risks and uncertainties involved, the estimates and forward-looking statements contained herein may not materialize. Given these limitations, shareholders and investors should not make decisions based on the estimates, projections and forward-looking statements contained in this material." 26