1Q13 Institutional Presentation

Transcription

1 1Q13 Institutional Presentation

2 Agenda Brazilian Credit Market Overview and Market Capital 1Q13 Results Peers Page 3 Page 4 Page 7 Page 27 Appendix Page 31 2

3 Brazilian Credit Market Evolução do Crédito dos Bancos Privados Nacianais (% do PIB) Credit Evolution of Domestic Private Banks (% of GDP) Evolução do Crédito dos Bancos Publicos Nacianais (% do PIB) Credit Evolution of National Public Banks (% of GDP) Evolution of Total Loan Operations of the Financial System vs. Banco Daycoval (% a.a) Ranking Brazil Central Bank December Q13 Carteira de Crédito Banco Daycoval Crédito Total Sistema Financeiro Ranking Daycoval Private National Banks National Banks Net Income 10th 15th Shareholders Equity 16th 21st Total Deposits 18th 25th Total Assets 23rd 28th 3

4 Key Figures 1Q13 Total Assets Expanded Loan Portfolio Funding Shareholders Equity R$ 12,781.3 million R$ 8,564.1 million R$ 7,843.1 million R$ 2,447.2 million Basel Index 19.6% (Tier 1) Reported Recurring 1Q13 4Q12 1Q12 1Q13 4Q12 1Q12 Net Income R$ (mn) ROAE 12.2% 15.7% 19.0% 12.3% 14.9% 15.7% ROAA 2.0% 2.5% 3.1% 2.0% 2.3% 2.5% NIM 10.6% 11.8% 11.5% 12,2% (*) 12,9% (*) 11,8% (*) Efficiency Ratio 40.2% 35.3% 28.2% 40.1% 35.7% 30.7% (*) Methodology includes exchange-rate change on passive operations and excludes the result of property protection operations, DAYC4 swaps, portfolio transfers to other banks and matched operations repurchase agreements-tri-party repos outstanding. 4

5 Additional Information: Investment Grade by Moody s and Fitch Ratings. 5

6 Distribution: More than 180 points of Sale National presence 36 Branches SÃO PAULO SP HD Av.Paulista * 1 new middle market branch this quarter 49 stores operating throughout Brazil. 37 Daypag Offices troughout São Paulo State. 59 exchange bureaus/exchange correspondents strategically in São Paulo and Rio de Janeiro. 6

7 Loan Portfolio: Ended the quarter with a balance of R$ 7,396.1 million. Loan Portfolio by Modality (R$ mn) 1Q13 4Q12 Chg. % 1Q12 Chg. % Middle Market + Trade Finance 4, , % 4, % Payroll Loans 2, , % 1, % Auto Loans % % Direct Credit to Consumers (DCC) / Other % % Total Loan Portfolio 7, , % 7, % Loan Portfolio - R$ Million Loan Portfolio- (R$ mn) 7,372 7,486 7,643 7,524 7,396 1Q12 2Q12 3Q12 4Q12 1Q13 7

8 8 Expanded Loan Portfolio: Reduction of 2.2% compared to 4Q12 and increase of 2.5% compared to 1Q12. Expanded Loan Portfolio - R$ Million Expanded Loan Portfolio (R$ mn) 1Q13 4Q12 Chg. % 1Q12 Chg. % Middle Market 3, , % 4, % Tra de Fi na nce % % Ava l s a nd Sureties Gra nted % % Recei va bl es purcha s e % % Total Middle Market Portfolio 5, , % 5, % Pa yrol l Loa ns 2, , % 1, % Pa yrol l Loa ns Portfol i o As s i gnments % % Total Payroll Loans 2, , % 1, % Auto Loa ns % % Auto Loans Portfolio Assignments n.a 4.4 n.a Total Auto Loans % % Direct Credit to Consumers (DCC) % % Total Expanded Loan Portfolio 8, , % 8, %

9 Expanded Loan Portfolio: Diversification Expanded Loan Portfolio Portolio (R$ (R$ mn) mn) 8,351 8,590 8,765 8,756 8,564 1Q12 2Q12 3Q12 4Q12 1Q13 Breakdown December/12 Loan Portfolio (*) 4Q12 1% 8% Breakdown Loan March/13 Portfolio (*) 1Q13 1% 8% 27% 64% 29% 62% (*)Includes Credit Assignments, sureties and avals granted and the purchase of credit rights. 9

10 Middle Market: The Working Capital and Guaranteed Account represent together 66.3%. Maintenance of Geographical, Sector and Collateral diversification. Middle Market Portfolio - R$ Million Middle Market Portfolio- (R$ mn) 5,690 5,742 5,730 5,633 5,290 1Q12 2Q12 3Q12 4Q12 1Q13 Breakdown Portfolio Middle Market R$(mn) 1Q13 %Loan Chgr. %x 4Q12 Working Capital 2, % -6.0% 66.3% Guaranteed Account 1, % -3.6% Trade Finance % -19.2% Avals and Sureties % -1.1% BNDES % -3.9% Receivables Purchase % -6.8% Total Middle Market 5, % -6.1% Collateral Breakdown 1Q13 Collateral Breakdown Sectors Breakdown 1Q13 Sectors Breakdown Geographic Distribution 1Q13 Geographic Distribution 5% 3% 8% 6% 9% 7% 62% Receivables Vehicles (Fleet) Real Estate Agricultural Products Financial Investments Equipments / Foreign goods 19% 32% 6% 43% Industry Services Commerce Others 15% 15% 5% 7% 58% Southeast South Northeast Mid-west North 10

11 11 Middle Market: Increase in number of operations, with a reduction of the average ticket. Originação Middle Market-(R$ MM) Origination Middle Market - (R$ Mn) 4,522 4,643 Concentration of Loan Portfolio Dec-10 Dec-11 Dec-12 Mar-13 3,879 4,032 4,052 Largest Credit 4.7% 4.3% 2.5% 1.2% 10 Largest Credit 17.3% 19.5% 8.5% 7.4% 20 Largest Credit 23.1% 25.4% 11.3% 10.2% 50 Largest Credit 34.1% 36.0% 16.8% 15.4% 1Q12 2Q12 3Q12 4Q12 1Q13 Loan Portfolio Outstanding Operation (March/13) (Março/13) Loan Portfolio - Outstanding Operation-Middle Market Evolution of Operations (Amount) 1% 3% 16% 37% 43% Maturity of 43% over the next 90 days Up to 3 months From 3 to 12 months From 1 to 3 years From 3 to 5 years Over 5 years

12 Daycred Payroll Loans: INSS and Federal, represent together 61.0% of payroll Loans and 79.8% of origination. Payroll Portfolio (R$ mn) Total Payroll Loan(*)-R$ Million Breakdown of payroll Breakdown (*) R$ 2,511 of Payroll mn - 1Q13- % 1,972 2,144 2,305 2,360 2,511 1Q12 2Q12 3Q12 4Q12 1Q13 (*) Includes credit assignment in all of the quarters (R$ 24.1 million in 1Q13) 3.8% 3.1% 0.8% 0.3% 9.6% 21.4% (includes credit assignments) 22.4% 38.6% INSS Federal Army Federal Government/SIAPE Municipalities Courts Others Private Origination of Payroll Loans R$ Million Payroll Origination R$ (mn) Breakdown of Payroll Origination Breakdown R$ 460 of Payroll mn --1Q13-% (includes credit assignments) % 0.9%0.7% 0.3% 9.5% INSS Federal 4.6% Army 46.3% Federal Government/SIAPE Municipalities 1Q12 2Q12 3Q12 4Q12 1Q % Courts Others Private 12

13 Daycred Auto Loans: Stable liquidity and high margins. Auto Loan Portfolio (R$ mn) Total Auto Loans (*) R$ Million Q12 2Q12 3Q12 4Q12 1Q Origination of Auto Loans R$ Million 91 Auto Loans Origination (R$ mn) Q12 2Q12 3Q12 4Q12 1Q13 72 (*) Incluides credit assignments in all of the quaters (R$ 0.3 million in 1Q13) Liquidity of Auto Loans Portfolio 1Q13 R$ Origination 1Q13 (*) Liquidity of the Auto Loans Portfolio - Oct-08 to Dec-12 R$ % Accum. PMTs received in advance 260,367, % 38% PMTs received on date of maturity 99,288, % 53% PMTs received with delay of 30 days 198,902, % 82% PMTs received with delay of 60 days 46,128, % 89% PMTs received with delay of 90 days 21,000, % 92% PMTs received with delay of 120 days 8,594, % 93% PMTs received over 120 days 12,412, % 95% PMT s overdue 32,187, % 100% Liquidity of the Auto Loans Portfolio 646,695, % Outstanding PMT s Total Amount 678,882, % 23% Breakdown of Origination 1Q13 77% Small Vehicles Heauy-duty Vehicles (*) We have not financed motorcycles since October

14 Funding : Local bonds (Letras financeiras) increased 13.5% over the last quarter. Funding (R$ mn) 1Q13 4Q12 Chg. % 1Q12 Chg. % Total Deposits 3, , % 4, % Dema nd Depos i ts + Other Depos i ts % % Ti me Depos i ts 2, , % 3, % Interba nk Depos i ts % % Letter of Credit Home Mortgage % - n.a. Letter of Credit Agribusiness % % Local Bonds (Letras Financeiras) 2, , % % Foreign Issuances 1, , % 1, % Borrowing and Onlending 1, , % 1, % Forei gn borrowi ngs % 1, % Domes tic onl endi ngs % % Domestic borrowings - Fidc - - n.a n.a. Total 7, , % 8, % Total Funding Total Funding (R$ mn) (R$ mn) Funding R$ Million 8,275 8,672 8,684 8,579 7,843 12% 12% 15% 15% 15% 15% 21% 21% 12% 26% 12% 26% 13% 13% 14% 14% 14% 14% 20% 20% 18% 18% 17% 17% 15% 15% 14% 14% 13% 13% 56% 56% 54% 54% 54% 54% 51% 51% 46% 46% 1Q12 1Q12 2Q12 2Q12 3Q12 3Q12 4Q12 4Q12 1Q13 1Q13 Total Deposits Total Deposits + LCA + + LCM LCA + LCI Borrowing Borrowing and Onlending and Onlending Foreign Issuances Local Bonds Foreign Issuances Local Bonds 14

15 Total Deposits: Expected reduction of 17.3% compared 4Q12, due to the redemption of R$ million in CDI, stemming from the partial exercising of the subscription bonds. Total Deposits x Long Term Funding - (R$ MM) Total Deposits x Long Term Funding R$ Million Total Deposits x Long Term Funding - (R$ MM) 4,667 4,662 4,718 3,609 4,667 4,662 4,718 3,609 4,377 4,377 4,010 3,966 4,201 4,010 3,966 4,201 4,225 3,618 4,225 3,618 1Q12 2Q12 3Q12 4Q12 1Q13 1Q12 2Q12 3Q12 4Q12 1Q13 Total Deposits Breakdown 1Q13 (%) 9% 4% 4% 12.0% 4.3% 36% 29.1% 6.3% Corporate + Demand Deposits 11.5% 38% 36.7% 9% Individuals Investment Funds Institutional Total Deposits Total Deposits Financial Institutions + Interbank Deposits LCA + LCM Long Term Funding Long Term Funding Segregação dos Depósitos Totais 1T13 Long Term Funding 1Q13 (%) ) 24% Borrowing and Onlending 48% Foreign Issuances Local Bonds 28% 15

16 Liquidity: Cash of R$ 1.8 billion, with enough liquidity to support for 140 days in worst case scenario. Outstanding Loan Operations Portfolio - Outstanding (Loan Portfolio) Operation 1Q13 - % 31% 7% (March/13) 1% 30% Maturity of 61% over the next 12 months Outstanding Operations (Funding) 1Q13 - % Funding - Outstanding Operations (Março/13) 2% 1% 42% 22% Maturity of 55% over the next 12 months 31% 33% Up to 3 months From 3 to 12 months From 1 to 3 years From 3 to 5 years Over 5 years Up to 3 months From 3 to 12 months From 1 to 3 years From 3 to 5 years Over 5 years Loan Portfolio by Segment Average term to Maturity (1) days Total Portfolio Middle Market 183 Trade Finance 144 Payroll Loans 718 Auto Loans 483 DCC + Other 240 BNDES 598 Total Loan Portfolio 421 (1) From March 28, 2013 Funding Average term to Maturity (1) days Total Deposits 155 Interbank Deposits 203 Local Bonds (letras financeiras) 513 Letter of Credit Agribusiness 149 LCI (Letter Home Mortgage) 133 Foreign Issuances 825 Borrowing and Onlending (2) 139 BNDES 602 Total Funding 403 (1) From March 28,2013 (1) Funding portfolio considered non liquid for weighting criteria. 16

17 Service and product revenues: Service revenues totaled R$ 25.0 million in 1Q13, representing growth of 15.0% for the quarter. 17 Asset Management 643 1,158 (R$ mn) 1,338 1,907 1,703 In the first quarter, approximately 80,000 prepaid cards, cash and remittance operations expressed in different currencies, for a turnover of R$ 161,1 million Q13 - Asset managing 39 funds; - Funds managed or administered totaling R$ 1,702.8 million, 10.7% lower than the 4Q12; - Gross revenues from investment fund management of R$ 3.7 million, 15,6% higher than the 4Q12. - More than 74,000 payment slips processed in 1Q13 versus 51,000 payment slips in 1Q12; - Over 6,680 clients registered, 35.6% higher than the same period of Processed more than 1.2 million payment slips in 1Q13, versus 1.0 million payment slips in 1Q12.

18 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Quality of Loan Portfolio(*): Increase in the balance of the provision stemming from the increase in number of delinquency. Provision Total Loan Portfolio 1Q13 Portfolio % Provision Total Provision / R$ mn R$ mn Loan (%) Middle Market + Trade Finance 4, % Payroll 2, % Auto Loans % CDC Retailers / Others % Subtotal 7, % Credit Assignments % Total 7, % Total Provision / Loan Portfolio(%) Total Provision / Loan Portfolio (%) (*) Unconsolidated 18

19 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Quality of Loan Portfolio(*): Increase of delinquency during the period. Total Middle Market Provision(%) Evolution PDD / Portfolio by Segment (%) Total Middle Market Provision (%) Total Total Payroll Payroll Provision(%) Provision(%) Total Auto Provision (%) Total Auto Provision (%) (*) Unconsolidated 19

20 Quality of Loan Portfolio(*): Maintains its conservative provisioning strategy. Establishment of Provision - R$ mn 1Q12 2Q12 3Q12 4Q12 1Q13 Middle Market + Trade Finance Payroll Auto DCC + Other Total Loan Portfolio- R$ Million Balance and Establishment of Provision (R$ mn) Balance and Establishment of Provision - R$ Million Q11 1Q12 2Q12 3Q12 4Q Q12 2Q12 3Q12 4Q12 1Q13 Balance of of Provision Provision Establishment Establishment of Provision of Provision (*) Unconsolidated 20

21 Quality of Loan Portfolio(*): Increased maturity index. However, the delinquencies remained below the market average. Overdue Loans (R$ mn) 1Q13 4Q12 Chg. % 1Q12 Chg. % Overdue Loans more than 90 days past due % % Middle Market + Trade Finance % % Pa yrol l % % Auto % % DCC + Other % % LLP Balance / Overdue Loans > 90 days (%) 245.9% 252.1% 329.9% Overdue Loans more than 90 days past due- (NPL) % Middle Market + Trade Finance (%) Payroll Auto Past due operations more than 90 days (%) (*) Unconsolidated 21

22 Quality of Loan Portfolio(*): The level of coverage of the PDD balance represents 91.5% of the E-H portfolio. Loan Portfolio E-H - R$ Mn 1Q12 4Q12 1Q13 (%) Portfolio Middle Market + Trade Finance Payroll Auto DCC + Other Total LLP Balance / Portfolio EH (%) 1Q12 4Q12 1Q13 Total 112.7% 96.9% 91.5% Recovered Loans - R$ Mn 1Q12 4Q12 1Q13 Middle Market + Trade Finance Retail Total Write-offs - R$ Mn 1Q12 4Q12 1Q13 Total (33.9) (58.5) (75.2) (*) Unconsolidated 22

23 Efficiency Ratio : Reduction of personnel expenses and administrative expense by 4.5% compared to 4Q12. Personnel and Administrative Expenses (R$ mn) 1Q13 4Q12 Var. % 1Q12 Var. % Total Personnel Expenses (exclude IFP) (40.4) (43.2) -6.5% (37.0) 9.2% Administrative Expenses (exclude IFP) (43.3) (44.4) -2.5% (30.6) 41.5% Total Personnel and Administrative Expenses (exclude IFP) (83.7) (87.6) -4.5% (67.6) 23.8% Total Personnel Expenses IFP (2.6) (2.2) 18.2% (2.2) 18.2% Administrative Expenses IFP (2.4) (2.2) 9.1% (1.7) 41.2% Total Personnel and Administrative Expenses IFP (5.0) (4.4) 13.6% (3.9) 28.2% Commission Expenses (total) (38.0) (32.6) 16.6% (20.3) 87.2% Total (126.7) (124.6) 1.7% (91.8) 37.9% Efficiency Ratio (%) 40.2% 35.3% 4.9 p.p 28.2% 11.9 p.p Efficiency Ratio (considering Profit Sharing) (%) 43.3% 37.2% 6.1 p.p 32.9% 10.4 p.p Efficiency Index (%) Efficiency Ratio % Q12 2Q12 3Q12 4Q12 1Q13 Efficiency Ratio (%) Average past 12 months 23

24 Capital Structure: Capital Increase and buy-back program. Shareholder's Equity (R$ mn) Shareholder s Equity (R$ mn) 2,447 2,204 2,024 2,013 2,075 1Q12 2Q12 3Q12 4Q12 1Q13 Increase of R$ million in Shareholder s Equity and R$ million of buy-back and cancellation of program DAYC Loan Loan Portfolio Portfolio / / Shareholder s Shareholders' Equity Equity (times) (times) Q12 2Q12 3Q12 4Q12 1Q13 24

25 Basel Index: Capital increase of R$ million Basel BIS Ratio Index (%) % Tier I Q12 2Q12 3Q12 4Q12 1Q13 Basel Ratio considering the conversion of warrants in the amount of R$ 154,7 million Current net equity (March/13) 2,447.2 Basel Index % Tier I Basiléia Basel Index 3 % Tier I 2018 deadline Basiléia for 3implementation Capital Increase (exercising the warrants) Restated net equity 2, Basel Ratio after the conversion 20.8% Basel 3 Ratio after the conversion 20.0% 1Q13 1Q13 1Q13 1Q13 (*) If we take into consideration the conversion of the warrants in the amount of R$ million, which could be done at any moment between March 2011 through March 2014 Basel Index 3 minimum 8% required by the Central Bank. 25

26 Profitability: Net Income of R$ 65.7 million and ROAE 12.2%. Net Income (R$ mn) Net Income R$ million Q12 2Q12 3Q12 4Q12 1Q13 Return on Average Assets (ROAA) - % Return on Average assets (ROAA) - % Return on Average Equity (ROAE) - % Return on Average Equity (ROAE) - % 19.0 Adjusted Net Interest Margin and Recurring (NIM-AR) (% p.a.) Net Interest Margin Adjusted and Recurring (NIM-AR) (1) - % Q12 2Q12 3Q12 4Q12 1Q Q12 2Q12 3Q12 4Q12 1Q13 1Q12 2Q12 3Q12 4Q12 1Q13 (1) Methodology includes exchange-rate change on passive operations and excludes the result of property protection operations, DAYC4 swaps, portfolio transfers to other banks and matched operations repurchase agreements-tri-party repos outstanding. 26

27 Peer Analysis 1Q13 Shareholders Equity (R$ Million) (1) Basel Index (%) (1) Basel Index (%) 2,447 1,931 1,757 1, Daycoval Bic Banco ABC Pine Sofisa Indusval Daycoval Bic Banco ABC Pine Sofisa Indusval Itaú Bradesco TIER I TIER II Loan Portfolio / Shareholders' Equity - times Loan Portfolio / Shareholders Equity times (1) Daycoval Bic Banco ABC Pine Sofisa Indusval (1) Source: Bank s reports as of March

28 Peer Analysis 1Q13 Loan Portfolio (R$ Million) Loan Portfolio (R$ Million) (1) 15, , , % 8, % 94% 64% 1,685 3, % 91% 36% 9% 6% 14% Daycoval Bic Banco ABC Pine Sofisa Indusval Daycoval Bic Banco ABC Pine Indusval Other other Middle Middle Market Market Loan Loss Provision / Credit Portfolio (%) Loan Portfolio (R$ Million) 5.3 Loan Loss Provisions / Credit Portfolio (%) (1) Growth of Total Credit Portfolio YoY - (%) (1) Daycoval Bic Banco ABC Pine Indusval Sofisa Itaú Bradesco Daycoval Bic Banco ABC Pine Sofisa Indusval Itaú Bradesco (1) Source: Bank s reports as of March

29 Peer Analysis 1Q13 1Q13 Net Income - R$ Million (1) 1Q13 Net Income / Loan Porfolio - (%) (1) Net Income (R$ million) Net Income / Loan Portfolio - (%) Daycoval Bic Banco ABC Pine Sofisa Indusval 0.8% 0.4% 0.5% 0.0% 0.0% Daycoval Bic Banco ABC Pine Sofisa Indusval % (1) Source: Bank s reports as of March

30 Peer Analysis 1Q13 Net Interest Margin Net (NIM) Interest - % Margin (1) (NIM)- % Efficiency Ratio - % (1) Efficiency Ratio - % (2) Daycoval Bic Banco ABC Pine Indusval Sofisa Itaú Bradesco Return on Average assets (ROAA) - % (2) Daycoval ABC Pine Sofisa Indusval Itaú Bradesco Return on Average Assets (ROAA) - % (1) Return on Average Equity (ROAE) - % (1) Daycoval Bic banco ABC Pine Sofisa Itau Bradesco Return on Average Equity (ROAE) - % Daycoval Bic Banco ABC Pine Sofisa Indusval Itaú Bradesco (1) Source: Bank s reports as of March 2013 (2) NIM-AR: Methodology includes exchange-rate change on passive operations and excludes the result of property protection operations, DAYC4 swaps, portfolio transfers to other banks and matched operations repurchase agreements-tri-party repos outstanding. 30

31 31 Daycoval s Strengths Growth capability with reduced costs Recognized as one of the best Brazilian Middle Market Banks Conservative profile and solid capital structure Experienced management team compromised with corporate governance Strict credit policy Access to diversified funding sources Low leverage level

32 Reccuring Key Figures Recurring Key Figures (R$ mn) 1Q12 2Q12 3Q12 4Q12 1Q Net Income Hedge/MTM 12.9 (4.2) (11.8) Swap DAYC4 3.9 (4.6) 15.6 (6.4) (24.1) 8.6 Adjusted Net Income Shareholders Equity 2, , , , , , , ,047.2 Total Assets 12, , , , , , , ,010.5 Adjusted ROAA (%) 2.5% 2.9% 2.0% 2.3% 2.0% 3.0% 3.1% 2.4% Adjusted ROAE (%) 15.7% 18.1% 13.0% 14.9% 12.3% 14.2% 17.6% 15.4% Adjusted Eficiency Ratio (%) 30.7% 31.7% 35.8% 36.0% 40.1% 26.2% 30.6% 33.7% Return on Average Equity (ROAE) Adjusted and Net Income Adjusted and Recurring (RS mn) Recurring (% p.a.) Net Income Adjusted and Recurring (R$ mn) Return on Average Equity Adjusted and Recurring (ROAE) (% p.a.) Q12 2Q12 3Q12 4Q12 1Q Q12 2Q12 3Q12 4Q12 1Q

33 Recurring Adjusted Net Interest Margin (NIM-AR) Recurring Adjusted Net Interest Margin (NIM-AR) (R$ mn) Income from Financial Intermediation adjusted by Loan Loss Provision and Exchange Rate Variation 1Q13 4Q12 Chg. % 1Q12 Chg. % % % 1, Hedge/MTM (19.6) 17.1 n.a 21.5 n.a Swap DAYC (10.7) n.a 6.5 n.a 14.2 (40.2) Adjusted Income from Financial Intermediation (A) % % 1, Average Remunerated Assets 11, , % 11, % 11, ,449.9 (-) Expenses of financial intermediation add back provisions (1,364.3) (1,186.1) n.a. (1,243.8) n.a. (1,135.9) (1,043.5) Average Remunerated Assets (B) 9, , % 9, % 10, ,406.4 Recurring Adjusted Net Interest Margin (NIM-AR) (%p.a.) (A/B) 12.2% 12.9% -0.7 p.p 11.8% 0.4 p.p 11.6% 11.3% 33

34 Income Statements Bank Consolidated Note: 24.J Quarters ended March 31 Other operating income Exchange rate changes on borrowings (hedge U$ 1 b) 57,870 67,430 58,015 67,682 Inflation adjustment of escrow deposits 8,956 8,457 8,956 8,457 Other operating income (1) (Purchase of Credit Rights ) 33,972 32,220 34,653 33,448 Recovery of charges and expenses Total , , , ,736 Bank Consolidated Note: 24.K Quarters ended March 31 Other operating expenses Inflation adjustment of taxes (Note 22.b) - (SELIC variation) (9,789) (11,313) (9,802) (11,313) Exchange rate changes (Foreign Exchange Variation) (4,824) (15,366) (5,758) (17,372) Other operating expenses (2) (2,745) (7,944) (2,745) (7,944) Interest expenses (21) (1,250) (441) (1,866) Total... (17,379) (35,873) (18,746) (38,495) (1) As at March 31, 2013, for the Bank and Consolidated, Other operating income are substantially comprise of income from receivables - not featured as lending operations in the amount of R$31,587 in the quarter (R$30,104 in March 31, 2012). (2) Advanced payments and legal expenses (retail) 34

35 3Q07 4Q07 1Q08 2Q08 3Q07 3Q08 4Q07 4Q08 1Q08 1Q09 2Q08 2Q09 3Q08 3Q09 4Q08 4Q09 1Q09 1Q10 2Q09 2Q10 3Q09 3Q10 4Q09 4Q10 1Q11 1Q10 2Q11 2Q10 3Q11 3Q10 4Q11 4Q10 1Q12 1Q11 2Q12 2Q11 3Q12 3Q11 4Q12 4Q11 1Q13 1Q Q Q Q Net Income and ROAE (R$ mn) Net Income (R$ mil) Return on Average Equity (ROAE) Net Income (R$ mil) Return on Average Equity (ROAE) 35

36 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q Quality of Loan Portfolio (*) : establishment of Provision R$ (mn) 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q Middle Market + Trade Finance Payroll Auto Loans DCC + Other Establishment of Provision LLP/Loan Portfolio Establishment of Provision/Loan Portfolio(%) Establishment of Provision (R$ mn) Establishment of Provision R$ (mn) Establishment of Provis (*) Unconsolidated 36

37 Quality of Loan Portfolio (*) : Past due operations more than 60 days Past due operations > 60 days / Loan Portfolio (%) (*) Unconsolidated 37

38 Quality of Loan Portfolio (*) : Past due operations more than 90 days ,563 7,246 7,389 7,560 7,452 7, , ,345 4, , ,091 3,149 3,319 3,627 3, , , , , , % 200.1% 184.0% 175.1% 201.0% 190.5% 242.1% 296.1% 317.5% 443.1% 319.3% 365.9% 353.6% 385.8% 352.3% 329.9% 277.1% 266.6% 252.1% 245.9% 0 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Loan Portfolio R$ (Mn) Past due operations > 90 days R$ (Mn) LLP / Past due operations (%) Past due operations > 90 days / Loan Portfolio (%) 4.0% 3.9% 4.1% 2.9% 1.2% 1.7% 2.3% 1.5% 1.1% 0.7% 1.0% 0.8% 0.8% 0.7% 0.7% 1.0% 1.4% 1.7% 2.0% 2.2% 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 38 (*) Unconsolidated

39 1Q07 1Q07 2Q07 2Q07 3Q07 3Q07 4Q07 4Q07 1Q08 1Q08 2Q08 2Q08 3Q08 3Q08 4Q08 1Q09 4Q08 2Q09 1Q09 3Q09 2Q09 4Q09 3Q09 1Q10 4Q09 2Q10 1Q10 3Q10 2Q10 4Q10 3Q10 1Q11 4Q10 2Q11 3Q11 1Q11 4Q11 2Q11 1Q12 3Q11 2Q12 4Q11 3Q12 1Q12 4Q12 2Q12 1Q13 (*) Unconsolidated 39 Quality of Loan Portfolio (*) : Loan Loss Provision ,563.47, , , , , , , , , , , , , , , , , , , , , Loan Portfolio Balance of Provision (R$ Mn) 7.9% 7.8% 7.1% LLP/Loan Portfolio LLP/Loan Portfolio 2.3% 2.1% 2.0% 2.3% 2.6% 2.5% 3.4% 5.3% 5.6% 4.6% 3.5% 3.2% 3.1% 3.0% 3.0% 2.5% 2.6% 3.3% 3.9% 4.4% 5.1% 5.3%

40 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Daycred Auto Loans Total Carteira de Crédito - (R$ MM) Total Loan Portfolio R$ Million Total Origination - (R$ mn) Total Origination R$ Million

41 Quality of Auto Loan Portfolio (*): Yearly Overview of Quality Loan Portfolio Loan Portfolio R$ (mn) Establishment of Provision R$ (mn) Final Balance LLP (R$ mn) Overdue Loans more than 14 days past due R$ (mn) Overdue Loans more than 60 days past due R$ (mn) Overdue Loans more than 90 days past due R$ (mn) Establishment of Provision/Loan Portfolio (%) 2.1% 9.2% 24.7% 9.5% 6.0% 7.2% Final Balance LLP/Loan Portfolio (%) 2.1% 8.3% 16.6% 8.7% 6.0% 7.2% Overdue Loans more than 14 days past due / Loan Portfolio (%) 1.0% 4.7% 8.2% 4.8% 3.3% 3.8% Overdue Loans more than 60 days past due / Loan Portfolio (%) 0.4% 2.9% 5.5% 2.9% 2.0% 2.3% Overdue Loans more than 90 days past due / Loan Portfolio (%) - 2.3% 4.4% 2.2% 1.4% 1.8% Final Balance LLP / Overdue Loans more than 14 days past due R$ (MM) 211.6% 177.8% 201.9% 182.1% 183.6% 189.1% Final Balance LLP / Overdue Loans more than 60 days past due R$ (MM) 535.3% 286.7% 303.7% 301.0% 304.5% 310.3% Final Balance LLP / Overdue Loans more than 90 days past due R$ (MM) % 375.7% 398.6% 418.8% 409.1% Final Balance Loan EH R$ (mn) Final Balance Loan EH/Loan Porfolio (%) 2.4% 10.2% 19.6% 9.8% 6.7% 8.2% Final Balance LLP / Loan EH (%) 87.5% 81.4% 84.7% 88.3% 89.6% 88.1% Write-offs R$ (mn) (0.3) (14.3) (81.2) (68.0) (29.6) (26.7) Recovered Loans Retail R$ (mn) (*) Unconsolidated 41

42 Quality of Auto Loan Portfolio (*): Quarterly Overview of Quality Loan Portfolio 1Q12 2Q12 3Q12 4Q12 1Q13 Loan Portfolio R$ (mn) Establishment of Provision R$ (mn) Final Balance LLP (R$ mn) Overdue Loans more than 14 days past due R$ (mn) Overdue Loans more than 60 days past due R$ (mn) Overdue Loans more than 90 days past due R$ (mn) Establishment of Provision/Loan Portfolio (%) 1.5% 1.4% 1.9% 2.9% 2.1% Final Balance LLP/Loan Portfolio (%) 5.5% 5.5% 5.7% 7.2% 7.9% Overdue Loans more than 14 days past due / Loan Portfolio (%) 3.0% 3.1% 3.5% 3.8% 4.2% Overdue Loans more than 60 days past due / Loan Portfolio (%) 1.8% 1.8% 2.0% 2.3% 2.6% Overdue Loans more than 90 days past due / Loan Portfolio (%) 1.3% 1.4% 1.4% 1.8% 2.1% Final Balance LLP / Overdue Loans more than 14 days past due R$ (MM) 182.5% 173.6% 165.0% 189.1% 186.9% Final Balance LLP / Overdue Loans more than 60 days past due R$ (MM) 312.2% 299.0% 291.3% 310.3% 301.8% Final Balance LLP / Overdue Loans more than 90 days past due R$ (MM) 419.4% 397.4% 413.6% 409.1% 379.5% Final Balance Loan EH R$ (mn) Final Balance Loan EH/Loan Porfolio (%) 5.9% 5.8% 7.0% 8.2% 8.7% Final Balance LLP / Loan EH (%) 92.7% 93.8% 81.9% 88.1% 90.6% Write-offs R$ (mn) (6.4) (5.8) (8.0) (6.5) (7.9) Recovered Loans Retail R$ (mn) (*) Unconsolidated 42

43 Balance Sheet Assets 1Q13 4Q12 1Q12 Current Assets 8,698,147 8,917,391 9,048,994 Cash and Cash Equivalents 74,266 69,268 49,164 Interbank Investments 2,518,261 2,510,871 3,198,376 Securities and Derivatives 711, , ,214 Interbank Accounts 112, , ,494 Lending Operations 3,950,176 4,125,591 4,307,302 Other Receivables 1,199,008 1,299,943 1,079,894 Other Assets 132, ,183 87,550 Long-Term Assets 4,071,895 4,010,705 3,785,926 Interbank Investments - 30,118 60,460 Securities and Derivatives 294, , ,801 Lending Operations 2,745,515 2,688,456 2,430,455 Other Receivables 919, , ,812 Other Assets 112, ,778 84,398 Permanent 11,217 11,123 11,652 Investments Property and Equipment in Use 10,405 10,309 11,046 Intangible Total Assets 12,781,259 12,939,219 12,846,572 Liabilities 1Q13 4Q12 1Q12 Current Liabilities 5,993,107 5,941,756 6,316,439 Deposits 2,670,529 3,025,001 3,129,293 Money Market Funding 1,184, ,213 1,466,954 Funds from Acceptance and Issuance of Securities 943, , ,883 Interbank Accounts 7, , Interbranch Accounts 6,529 7,040 8,780 Borrowings and Onlendings 825, ,864 1,192,166 Derivatives 2,104 2,189 11,695 Provisions of Insurance and Pension Plans 29,246 25,827 26,133 Other payables 323, , ,416 Long-term Liabilities 4,331,501 4,783,855 4,492,845 Deposits 619,441 1,076,759 1,369,598 Funds from Acceptance and Issuance of Securities 2,589,041 2,617,299 1,984,245 Borrowings and Onlendings 194, , ,163 Derivatives ,129 Other Payables 928, , ,710 Deferred Income 8,772 9,408 12,546 Minority Interest Shareholders Equity 2,447,192 2,203,507 2,024,096 Capital of Brazilian Residents 1,425,726 1,359,143 1,359,143 Capital Increase 311,683 66, Capital Reserves 1,311 1, Revaluation Reserves 1,135 1,185 1,263 Profit Reserves 713, , ,593 Securities and Derivatives Available for Sale 4,364 4,822 2,891 ( - ) Treasury Stocks (10,097) (1,290) (5,794) Total Liabilities 12,781,259 12,939,219 12,846,572 Amounts in R$

44 Income Statement 1Q13 4Q12 Var. % 1Q12 Var. % Income from Financial Intermediation 427, , % 462, % Lending Operation 386, , % 385, % Securities Operations 60,523 87, % 101, % Derivatives (38,654) 17,541 n.a (35,780) n.a. Foreign Exchange Operations 19,320 30, % 11, % Expenses of Financial Intermediation (284,010) (332,440) -14.6% (284,183) -0.1% Funding Expenses (167,307) (200,547) -16.6% (189,594) -11.8% Borrowing and Onlendings (18,102) (23,198) -22.0% (17,079) 6.0% Operations Sale or Transfer of Financial Assets (6,991) (6,360) 9.9% (2,795) n.a. Loan Losses Provisions (91,610) (102,335) -10.5% (74,715) 22.6% Gross Profit from Financial Intermediation 143, , % 177, % Other Operating Income (Expenses) (39,129) (71,645) -45.4% (18,941) 106.6% Income from Services Provided 25,003 21, % 18, % Personnel Expenses (43,037) (45,431) -5.3% (39,220) 9.7% Other Administrative Expenses (83,671) (79,209) 5.6% (52,577) 59.1% Tax Expenses (21,369) (22,897) -6.7% (18,222) 17.3% Other Operating Income 102,691 75, % 110, % Other Operating Expenses (18,746) (20,808) -9.9% (38,495) -51.3% Income from Operation 104, , % 159, % Non-operating Expenses (1,810) (4,377) -58.6% (4,072) -55.6% Income before Taxes and Minority Interest 102, , % 0.0% 154, % 0.0% Income and Social Contribution Taxes (27,283)- (36,906) % 0.0% (44,572) % 0.0% Provision for Income Tax (32,424) (23,917) 35.6% (41,046) -21.0% Provision for Social Contribution Tax (19,198) (15,557) 23.4% (24,251) -20.8% Deferred Taxes 24,339 2,568 n.a. 20,725 n.a Profit-Sharing (9,879) (6,572) 50.3% (15,102) -34.6% Minority Interest (12) (9) 33.3% (13) -7.7% Net Income 65,714 82, % 95, % Interest on Shareholders Equity (24,486) (25,376) -3.5% (28,322) -13.5% Earnings per Share (R$) n.a n.a. Number of Shares 255,004, ,777,741 n.a. 215,704,049 n.a. Amounts in R$

45 45 1Q13 Institutional Presentation Investor Relations Team Ricardo Gelbaum +55 (11) Erich Romani +55 (11) Natalie Ramalhoso +55 (11) Susie Cardoso +55 (11) This report 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 our business, Many important factors may adversely affect the results of Banco Daycoval as described in our estimates and forward-looking statements, These factors include, but are not limited to, the following: the Brazilian and international economic conjunctures, fiscal, foreign-exchange and monetary policies, higher competition in the middle-market segment, the ability of Banco Daycoval to obtain funding for its operations, and amendments to Central Bank regulations, The words believe, may, could, seek, estimate, continued, anticipate, plan, expect and other similar words have the objective of identifying estimates and projections, The considerations involving estimates and forward-looking statements include information related to results and projections, strategies, competitive positioning, the environment in the industry, growth opportunities, the effects of future regulations, and the impacts from competitors, Said estimates and projections refer only to the date on which they were expressed, and we do not assume any obligation to publicly update or revise any of these estimates arising from the occurrence of new information, future events, or any other factors, In view of the risks and uncertainties described above, the estimates and forward-looking statements contained herein may not materialize, Given these limitations, shareholders and investors should not make any decisions based on the estimates, projections and forward-looking statements contained in this report,