Earnings Release
Disclaimer This presentation may include references and statements, planned synergies, estimates, projections of results, and future strategy for Banco do Brasil, its Associated and Affiliated Companies, and Subsidiaries. Although these references and statements reflect the management s belief, they also involve estimates and unforeseen risks. Consequently, results may differ from those anticipated and discussed here. These expectations are highly dependent on market conditions, on 2 Brazil s economic and banking system performances, as well as on international market conditions. Banco do Brasil is not responsible for updating any estimate in this presentation.
Index Highlights / 1Q16 4 Net Income 5 Earnings Breakdown () 6 Market Ratios 7 Funding 8 Loan Portfolio 9 Individuals Portfolio 10 Loans to Companies 11 Agribusiness 12 Delinquency Ratios 13 Delinquency Ratio by Segment 14 ALL Balance and Coverage Ratio 15 Coverage Ratio by Segment 16 Average Risk and Loan Portfolio by Risk Level 17 Provision Flow / Loan Portfolio (%) 18 NPL Formation 19 NPL Formation by Segment 20 Renegotiated Overdue Loan Portfolio 21 Net Interest Income 22 Spreads 23 Fee Income 24 Admin. Expenses and Cost to Income Ratio 25 BIS Ratio 26 Full Application of Basel III Rules 27 Guidance 2017 28 Appendix 29
Fee Income 12.3% growth. Highlights / 1Q16 Net interest Income¹ Grew by 0.8%. Administrative Expenses Under control, 0.4% decline. Cost to income ratio² Reached 39.3%. (1) Net of write-off recovery. (2) Cost to Income Ratio: Administrative Expenses / Operating Revenues accumulated in 12 months. Data from the Income Statement with Reallocations. 4
Net Income R$ million +95.6% +3.6% 2,515 2,359 2,443 1,286 1Q16 Adjusted Net Income 1Q16 Net Income Profitability Ratios 1Q16 4Q16 Shareholders ROE % 7.4 9.6 13.7 Market ROE % 6.6 8.7 12.4 5
Earnings Breakdown () R$ billion 14.5 (6.7) 6.1 (7.8) Personnel Expenses (4.7) (3.1) (3.6) 2.5 (0.1) 2.4 NII ALL Fee Income Administrative Expenses Other Adjusted NI One-Off Items Net Income 6
Market Ratios Earnings per Share 5.05 0.83 0.88 0.80 0.84 0.86 0.90 4.12 4.08 4.01 0.65 0.63 2.84 2.57 0.46 0.34 7.38 7.62 Dividend Yield² (%) 4.86 3.01 2.57 3.12 1Q16 2Q16 3Q16 4Q16 2015 2016 2017E¹ 1Q16 2Q16 3Q16 4Q16 2017E¹ Earnings per Share - R$ Adjusted Earnings per Share - R$ Price/Earnings 12 months Price/Book Value 5.05 4.60 6.63 9.74 11.59 8.24 0.66 0.57 0.74 0.90 1.05 1.02 1Q16 Source: Economatica. 2Q16 3Q16 4Q16 2017E¹ 1Q16 Source: Economatica. 2Q16 3Q16 4Q16 2017E¹ (1) Bloomberg estimative in 05/ 05/2017 based on analysts projections average. Banco do Brasil is not responsible for this information. (2) Dividends and Interest on Capital 12 months / Market Capitalization. Source: Economatica. 7
Funding 92.4 62.9 91.6 61.8 89.7 63.4 63.7 86.8 87.2 64.0 13.8 R$ billion 13.8 14.1 14.2 14.0 638.6 36.9 30.5 62.6 624.8 27.5 30.4 62.5 619.9 23.9 31.6 61.6 613.6 20.7 25.6 69.3 584.4 18.3 20.1 64.0 154.1 153.5 150.6 142.0 133.7 151.9 148.4 148.7 151.8 148.9 202.6 202.5 203.5 204.2 199.4 Mar/16 Jun/16 Sep/16 Dec/16 Mar/17 Time Deposits Saving Deposits Agribusiness Let. Credit + Mortgages Let. Credit¹ Demand Deposits Rep. Agreement with Private Securities² Interbank Deposits Adjusted Net Loan Portfolio / Commercial Funding Funding Expenses % Selic³ Accumulated Selic (% YTD in 12 months) (1) Includes the balance of CRI (Certificates of Real Estate Receivables). (2) Includes part of the balances of the Private Securities shown on Notes to the Consolidated Financial Statements. (3) It refers to Deposits + Agribusiness Letters of Credit and Mortgage Letters of Credit quarterly cost. 8
Loan Portfolio Broad Concept¹ 2.3-1.2-6.9-11.3-11.4 R$ billion 7.9% 23.1% 777.5 753.0 735.4 61.7 51.2 708.1 688.7 51.5 45.7 179.5 184.5 179.6 179.8 42.7 180.1 6.2% 26.1% 24.1% 187.7 189.7 187.6 187.8 185.1 26.9% 44.8% 348.5 327.6 316.8 294.7 280.8 40.8% Mar/16 Jun/16 Sep/16 Dec/16 Mar/17 Foreign Branches and Subsidiaries Agribusiness Individuals Companies Growth in 12 months (%) (1) It includes private securities and guarantees provided. 9
Individuals Portfolio¹: Lower risk lines of credit Mortgages Payroll R$ billion 1.38 1.47 2.09 1.28 1.31 1.45 Market Share 7.9% 50.3 38.4 11.9 Mar/16 +6.6% 53.7 42.1 11.7 Dec/16 53.7 42.6 11.0 Mar/17 Chg. (%) on Mar/16 10.9% 62.6 8.1% 3.2% 88.7% Mar/16-0.2% 62.5 8.8% 2.8% 88.4% Dec/16 62.4 9.3% 2.7% 88.0% Mar/17 Market Share 21.5% Mortgage -Companies Mortgage - Individuals Individuals Mortgage NPL 90 (%)² Private Sector Employees INSS s Retirees and Pensioners Civil Servants NPL 90² Salary Loans Auto Loans 2.30 2.88 3.05 NPL 90² 0.87 0.98 1.20 NPL 90² +2.9% 19.2 19.3 19.7 7.8-26.4% 6.2 5.8 Mar/16 Dec/16 Mar/17 Mar/16 Dec/16 Mar/17 (1) BB Organic Portfolio. (2) BB Classified Loan Portfolio. 10
Loans to Companies Broad Concept¹ 348.5 30.8 19.7 125.9 172.1-19.4% 294.7 33.5 14.5 104.8 142.0 280.8 13.4 32.0 99.8 135.5 R$ billion Mar/16 Dec/16 Mar/17 Working Capital² Investments + Private Securities and Guarantees Trade Finance³ Other 348.5 85.9 Corporate Portfolio by Size 294.7 68.7 280.8 61.4 Chg. (%) on Mar/16-28.5% 262.6 226.1 219.4-16.5% Mar/16 Very Small and Small Companies⁴ Dec/16 Middle Market, Corporates and Government Mar/17 (1) It includes private securities and guarantees provided. (2) It includes Working Capital, Receivables, Credit Card and Overdraft Account. (3) It Includes FEC/ACE and BNDES Exim. (4) Companies with annual revenues up to R$ 25 million. 11
Agribusiness Agribusiness Loan Portfolio by Purpose¹ +0.3% Use of Mitigators (Working Capital) Harvest 16/17 179.5 35.6 179.8 29.3 180.1 27.9 Chg. (%) on Mar/16-21.6% 5.7% 36.4% 143.9 150.5 152.2 63.6% Mar/16 Dec/16 Agroindustrial Mar/17 Rural Insured Without Insurance R$ billion 54.8 % Market Share² (1) It includes Rural Product Bills and guarantees provided. (2) Source: Brazilian Central Bank Mar/2017. 12
Delinquency Ratios (+90 days)¹ 3.70 3.70 3.89 3.80 3.50 3.50 3.50 3.26 3.29 3.47 2.59 2.85 3.06 Simulation considering the Dec/16 loan portfolio, excluding the specific case: NPL+90 days ratio would be 3.39% in Mar/17. Mar/16 Jun/16 Sep/16 Dec/16 Mar/17 BB BI BB ex specific cases (1) BB Classified Loan Portfolio. 13
Delinquency Ratio¹ by Segment NPL Ratio +90 days (%) NPL Ratio +15 days (%) 6.83 11.09 4.01 2.39 4.82 2.37 5.26 2.56 5.83 2.67 5.70 5.47 3.09 7.07 5.46 7.09 4.55 8.47 5.97 9.29 8.25 7.21 5.26 6.94 9.97 8.48 1.19 0.95 0.96 0.99 1.28 1.80 1.45 1.79 1.81 2.30 Mar/16 Jun/16 Sep/16 Dec/16 Mar/17 Mar/16 Jun/16 Sep/16 Dec/16 Mar/17 Individuals Companies Agribusiness Simulation-ex specific case Simulation considering Dec/16 loan portfolio, ex-specific case (1) BB Classified Loan Portfolio. 14
ALL Balance and Coverage Ratio 193.8 180.0 175.7 175.7 178.9 171.4 173.2 163.9 167.8 164.2 159.4 167.7 146.5 (%) 35,398 1,209 36,968 37,514 36,070 1,535 36,414 1,686 34,189 36,968 37,514 34,535 34,728 R$ million Mar/16 Jun/16 Sep/16 Dec/16 Mar/17 Required Provision Additional Provision Supplementary Provision BB +90 days BI +90 days¹ BB ex specific cases (1) Ratio created through Average Risk Index available at SGS (Time Series Management System) of the Brazilian Central Bank. 15
Coverage Ratio by Segment % 1,656.62 367.23 349.42 435.01 153.09 119.38 118.87 254.92 290.00 295.58 228.89 201.82 201.31 190.86 199.57 183.87 181.66 153.53 145.07 144.94 140.99 145.77 128.27 1Q16 2Q16 3Q16 4Q16 Individuals Companies Agribusiness Companies ex specific case Foreign Branches and Subsidiaries Foreign Branches and Subsidiaries ex specific case 16
Average Risk and Loan Portfolio by Risk Level Average Risk¹ (%) Loan Portfolio by Risk Level 6.00 4.86 6.30 5.34 6.50 5.58 6.50 5.52 6.80 5.70 10.8% 17.0% 9.6% 48.2% 90.4% of the transactions are concentrated in levels AA to C 14.5% Mar/16 Jun/16 Sep/16 Dec/16 Mar/17 Banco do Brasil Banking Industry AA A B C D-H (1) Required Provision / BB Classified Loan Portfolio. Source: SGS (Brazilian Central Bank). 17
Provision Flow / Loan Portfolio (%) 3.51 1.67 0.41 0.45 0.27 Foreign Branches and Subsidiaries 2.11 2.21 1.66 1.66 1.83 Total Companies Individuals Agribusiness 1.30 0.92 0.76 1.20 0.41 0.68 0.99 0.55 0.75 1.18 1.15-0.24 1.05 0.91 0.46 9,145 1,041 1,942 4,754 8,277 804 396 5,794 ALL by Segment (R$ million)¹ 6,644 132 730 4,370 7,486 98 5,517 6,713 60 606 4,370 1,408 1,282 1,411-336 2,207 1,677 1Q16 2Q16 Agribusiness (1) Quartely ALL expenses gross of write-off recovery. It does not consider additional provision. 3Q16 Foreign Branches and Subsidiaries Companies 4Q16 Individuals 18
NPL Formation 105.68 104.30 112.32 123.80 120.55 93.32 107.43 94.93 131.99 85.05 68.82 0.64 0.72 0.81 0.87 1.03 1.38 0.98 1.03 1.04 1.49 1.08 4.28 4.91 5.59 6.22 7.39 9.73 7.12 6.97 9.75 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 Including the past due renegotiated loan portfolio³ From the total contracts in the in the renegotiated loan portfolio, 14.8% were past due over 90 days. 124.30 0.68 4.55 95.31 0.80 5.45 94.70 0.89 6.16 98.10 1.00 7.13 115.34 1.10 7.93 108.26 78.94 1.49 1.09 10.48 88.03 1.09 7.55 98.16 1.13 7.63 86.43 10.10 66.47 1.55 1.19 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 New NPL¹ (R$ billion) Quarterly ALL/New NPL (%) Quarterly ALL/New NPL - ex specific cases New NPL / Loan Portfolio² (%) New NPL / Loan Portfolio - ex specific cases (1) Quarterly change in the balance of past due for over 90 days operations + current quarter write-off. (2) It considers the Classified Loan Portfolio of the previous quarter. (3) Flow of the Renegotiated loan portfolio contracts of past due for over 90 days operations. 19
Companies Individuals Agribusiness NPL Formation by Segment 128.47 60.72 105.46 113.12 82.97 100.34 87.75 140.20 89.78 158.53 140.20 76.26 113.28 106.18 105.72 104.44 59.35-46.61 0.65 0.65 0.65 0.65 0.92 0.68 0.85 0.84 1.00 0.56 0.35 0.49 0.24 0.42 0.21 0.38 0.40 0.57 1.09 1.12 1.16 1.17 1.70 1.28 1.61 1.57 1.87 0.57 0.40 0.70 0.84 0.98 0.37 0.70 0.72 1.02 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 130.52 113.19 106.13 103.98 100.94 115.35 94.34 121.20 117.12 68.14 0.85 1.17 1.26 3.37 3.61 2.41 1.43 1.58 1.75 1.69 1.73 2.57 1.50 6.41 4.15 4.71 5.02 4.63 4.55 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 Quarterly ALL/New NPL (%) New NPL¹ (R$ billion) Quarterly ALL/New NPL (%) - ex-specific case (1) Quarterly change in the balance of past due for over 90 days operations + current quarter write-off. (2) It considers the Classified Loan Portfolio of the previous quarter. New NPL / Loan Portfolio² (%) New NPL ex specific case 20
Renegotiated Overdue Loan Portfolio 1Q16 4Q16 Credits Renegotiated When Past Due - Changes Initial Balance 19,653 25,694 27,086 Contracts 3,611 3,873 2,332 Amortization Net of Interest¹ (449) (1,113) (864) Write-Off (777) (1,368) (1,936) Past due Renegotiated Loan Portfolio (A) 22,038 27,086 26,618 ALL Balance (B) 9,495 11,925 12,314 NPL + 90 days (C) 4,303 7,375 7,410 Indicators - % ALL / Loan Portfolio (B/A) 43.1 44.0 46.3 NPL + 90 days / Loan Portfolio (C/A) 19.5 27.2 27.8 ALL Balance/NPL + 90 days (B/C) 220.7 161.7 166.2 Credits Renegotiated/Classified Loan Portfolio 3.1 4.1 4.2 Credits Renegotiated Contracts % 0 to 14 days Past due 1,096 47.0% 15 to 90 days Past due 669 28.7% Over 90 days Past due 345 14.8% Writen-Off Operations 222 9.5% Total 2,332 100% R$ million NPL Formation 9.71 10.78 8.37 9.24 7.28 1.91 2.38 2.10 2.37 1.97 1Q16 2Q16 3Q16 4Q16 New NPL (R$ billion)² New NPL / Loan Portfolio (%)³ (1) Principal and interest payments net of interest accrued in the period. (2) Quarterly change in the balance of past due for over 90 days operations + current quarter write-off. (3) It considers the Classified Loan Portfolio of the previous quarter. 21
Net Interest Income R$ million 1Q16 4Q16 Chg. (%) on 1Q16 4Q16 Net Interest Income 14,276 15,333 14,476 1.4 (5.6) Net Interest Income W/O Recovery 13,415 13,974 13,521 0.8 (3.2) Loan Operations 25,079 25,131 23,611 (5.9) (6.0) Funding Expenses (10,930) (10,806) (9,755) (10.7) (9.7) Financial Expense for Institutional Funding¹ (3,733) (3,523) (3,305) (11.5) (6.2) Treasury² 2,999 3,172 2,969 (1.0) (6.4) Recovery of Write-offs 861 1,359 956 11.0 (29.7) (1) It Includes senior debt, subordinated debt and hybrid capital instrument domestic and abroad (HCDI). (2) It includes interest income, tax hedge, derivatives and other financial instruments that compensate the exchange rate variation in result. 22
Spreads 15.80 16.31 16.48 16.60 16.11 % 7.49 7.71 7.86 7.98 7.67 5.92 5.89 6.10 6.34 6.05 4.77 4.93 4.97 5.00 Individuals Loan Operations Companies¹ Agribusiness 4.83 4.76 4.89 4.90 5.06 4.82 1.69 2.10 2.72 2.57 2.56 1Q16 2Q16 3Q16 4Q16 Net Interest Margin (NIM)² Risk Adjusted NIM (1) Government operations not included. (2) NIM result divided by the average balance of earnings assets, annualized. 23
Fee Income R$ million 1Q16 4Q16 Chg. (%) on 1Q16 4Q16 Fee Income 5,445 6,250 6,117 12.3 (2.1) Checking Account Fees 1,435 1,660 1,597 11.3 (3.8) Asset Management Fees 1,002 1,069 1,295 29.3 21.2 Insurance, Pension and Premium Bonds 697 840 763 9.5 (9.1) Loan Fees 360 506 412 14.5 (18.5) Collections 419 415 383 (8.6) (7.8) Credit / Debit Cards 327 363 370 13.3 1.9 Billings 260 275 273 5.0 (0.8) Capital Market 128 216 170 32.9 (21.1) National Treasury and Manag. of Official Funds 132 162 167 26.8 3.5 Consortium 115 150 161 39.3 7.6 Interbank 90 100 63 (30.3) (37.5) Other 570 595 525 (7.9) (11.8) 24
Administrative Expenses and Cost to Income Ratio¹ 40.9 39.7 39.3 Mar/16 Mar/17-0.4% Employees 109,864 99,964 7,808 8,617 7,774 Branches 5,428 4,877 3,019 3,406 3,096 Points of Service 1,783 2,180 Own Service Network 17,462 16,492 4,789 5,210 4,677 1Q16 4Q16 R$ million The institutional reorganization brought an impact of R$ 67 million in administrative expenses. Excluding these expenses, the decrease would be 1.4% against 1Q16. Personnel Expenses Other Administrative Expenses Cost to Income Ratio - 12 months (1) Cost to Income Ratio: Administrative Expenses / Operating Revenues. Data from the Income Statement with Reallocations. 25
BIS Ratio¹ % 16.24 16.45 17.59 18.48 18.15 11.38 11.34 12.18 12.79 12.41 8.26 8.42 9.07 9.59 9.20 Mar/16 Jun/16 Sep/16 Dec/16 Mar/17 Tier II Tier I Common Equity Tier I (1) The consolidation scope used as a base for checking the operating limits was changed, so that it took into account only the Financial Conglomerate, from October 1, 2013, to December 31, 2014, and the Prudential Conglomerate, as defined in CMN resolution 4,280/2013, from January 1, 2015. 26
CET1 Tier 1 BIS Full Application of Basel III Rules 18.15 17.66 17.40-0.49-0.26 0.77 18.16 % BIS Ratio Deductions Schedule Anticipation BIS Ratio with full deductions RWA Rules Anticipation BIS Ratio with Fully Loaded Basel III Rules Use of Tax Credits Simulated BIS Ratio under complete Basel III Rules 12.41-0.55 11.87-0.17 11.69 0.73 12.42 Tier 1 Deductions Schedule Anticipation Tier 1 with full deductions RWA Rules Anticipation Tier 1 with Fully Loaded Basel III Rules Use of Tax Credits Simulated Tier 1 under complete Basel III Rules 9.20-0.58 8.63-0.13 8.50 0.71 9.21 Common Equity Tier I (CET) Deductions Schedule Anticipation CET with full deductions RWA Rules Anticipation CET with Fully Loaded Basel III Rules Use of Tax Credits Simulated CET under complete Basel III Rules 27
Guidance 2017 Guidance 2017 Performance Adjusted Net Income - R$ billion 9.5 to 12.5 2.5 NII (Net of Recovery of Write-offs) - % 0 to 4 0.8 Organic Domestic Loan Portfolio - Broad Definition - % 1 to 4-9.2 Individuals - % 4 to 7 1.6 Companies - % -4 to -1-19.6 Rural Loans - % 6 to 9 5.7 ALL Expenses net of Recovery of Write-offs - R$ billion -23.5 to -20.5-5.8 Fee Income - % 6 to 9 12.3 Administrative Expenses - % 1.5 to 4.5-0.4 28
Net Interest Income and Net Interest Margin 30 Appendix Guarantees and Provisions 31 BIS III Implementation Schedule 32 One-Off Items 33 Income Statement with Reallocations Main Lines 34 Banco Votorantim 35
Net Interest Income and Net Interest Margin 0.64% on 4Q16 14,476 480 72 403 15,432 150 15,582 Net Interest Income R$ million NII Financial Intermediation - calendar/business days Treasury - calendar/business days Recovery of Write-offs NII ex temporary and seasonal effects Revolving Credit Card Revenues NII ex all effects Temporary and seasonal effects Structural Effect Net Interest Margin (%) 0.17 0.02 0.14 5.23 0.05 5.28 4.82 0.08 4.90 NIM Mix Composition NIM ex Mix Financial Intermediation - calendar/business days Treasury - calendar/business days Recovery of Write-offs NIM ex temporary and seasonal effects Revolving Credit Card Revenues NIM ex all effects Temporary and seasonal effects Structural Effect 30
Guarantees and Provisions 2.7 2.2 1.6 2.4 2.2 R$ million 25,750 19,326 18,241 17,957 17,178 423 430 491 431 379 Mar/16 Jun/16 Sep/16 Dec/16 Mar/17 Guarantees Provided Provisions Provisions/Guarantees 31
BIS III Implementation Schedule % 2017 2018 2019 Common Equity Tier I (CET1) 4.500 4.500 4.500 Tier 1 6.000 6.000 6.000 Brazilian BIS Ratio 9.250 8.625 8.000 Capital Conservation Buffer 1.250 1.875 2.500 Additional CET1 Countercyclical Buffer (superior limit) 1,250¹ 1.875 2.500 Additional CET1 Systemic (D-SIB) Buffer 0.250 0.500 1.000 CET1 + Buffers 6.000¹ 8.750 10.500 Tier 1 + Buffers 7.500¹ 10.250 12.000 Brazilian BIS Ratio + Buffers 10.750¹ 12.875 14.000 (1) Additional CET1 Countercyclical Buffer not activated by the Brazilian Central Bank in 2017. 32
One-Off Items R$ million 1Q16 4Q16 Chg. (%) on 1Q16 4Q16 Adjusted Net Income 1,286 1,747 2,515 95.6 43.9 One-Off Item s 1,073 (784) (72) - (90.8) Economic Plans (382) (182) (227) (40.7) 24.7 Extraordinary Provision for Law suits 407 69 88 (78.3) 27.2 Additional Allow ance for Loan Losses 2,047 - - - - Extraordinary Incentivated Retirement Program - (1,401) - - - Tax Eff. and Stat. Prof. on One-Off Items (999) 729 67 - (90.8) Net Incom e 2,359 963 2,443 3.6 153.6 33
Income Statement with Reallocations Main Lines 1Q16 4Q16 On 1Q16 On 4Q16 Net Interest Income 14,276 15,333 14,476 1.4 (5.6) Allowance for Loan Losses (9,145) (7,486) (6,713) (26.6) (10.3) Net Financial Margin 5,131 7,847 7,764 51.3 (1.1) Fee income 5,445 6,250 6,117 12.3 (2.1) Contribution Margin 9,354 12,769 12,619 34.9 (1.2) Administrative Expenses (7,808) (8,617) (7,774) (0.4) (9.8) Commercial Income 1,428 4,057 4,727-16.5 Other Operating Income 527 (230) 99 (81.1) - Income Before Taxes 1,202 3,143 4,214-34.0 Income and Social Contribution Taxes 659 (771) (995) - 29.0 Corporate Profit Sharing (186) (184) (307) 65.6 66.8 Adjusted Net Income 1,286 1,747 2,515 95.6 43.9 One-Off Items 1,073 (784) (72) - (90.8) Net Income 2,359 963 2,443 3.6 153.6 R$ million 34
Banco Votorantim Net Income (R$ million) 86.2 108.2 112.1 119.3 127.4 1Q16 2Q16 3Q16 4Q16 Delinquency and Risk (%) 5.5 5.5 4.6 4.6 4.5 9.4 9.8 9.8 11.7 10.8 90.6 90.2 90.2 88.3 89.2 Mar/16 Jun/16 Sep/16 Dec/16 Mar/17 D-H AA-C NPL +90 days / Loan Portfolio 35
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