Quarterly Financial Report March 31, 2011
Table of Contents I. Financial Statements 1 Balance Sheet Income Statements II. Main Financial Ratios 2 III. Details of Loan Portfolio 3 IV. Details of Paidin Capital 5 For further information, please visit our web site at: www.caf.com Contacts : Gabriel Felpeto Ph (58212)209.2303 email: gfelpeto@caf.com Antonio Recine Ph (58212)209.2076 email: arecine@caf.com Fabiola Briceno Ph (58212)209.2026 email: fbriceno@caf.com Manuel Valdez Ph (58212)209.2387 email: mvaldez@caf.com DISCLAIMER THE FOLLOWING FINANCIAL STATEMENTS FOR THE PERIOD STATED THEREIN ARE FOR GENERAL INFORMATION PURPOSES ONLY. THE AFOREMENTIONED STATEMENTS HAVE NOT BEEN INDEPENDENTLY AUDITED NOR APPROVED BY CORPORACIÓN ANDINA DE FOMENTO S BOARD OF DIRECTORS. AS SUCH, SAID FINANCIAL STATEMENTS MAY MATERIALLY CHANGE. CORPORACIÓN ANDINA DE FOMENTO ( CAF ) DOES NOT EXPRESS ANY OPINION AS TO THE STATEMENTS THEMSELVES OR THE RESULTS THEREIN. ADDITIONALLY, CAF DOES NOT GUARANTE IN ANY MANNER THE ACCURACY OF THE CONTENTS THEREIN AND DOES NOT TAKE ANY RESPONSIBILITY FOR THEIR USE. NOTHING IN THIS DOCUMENT SHALL BE INTERPRETED AS A WAIVER OF THE IMMUNITIES AND PRIVILEGES GRANTED TO CAF BY ANY OF ITS SHAREHOLDER COUNTRIES.
I. Financial Statements (unaudited) Balance Sheet (In thousands of US$) March 31, 2011 2010 Assets Liquidity 4.471.659 3.902.906 Loan portfolio 14.951.661 12.380.424 Allowance for losses 149.432 150.950 Equity investments 72.897 90.703 Other assets 713.730 573.192 Assets 20.060.515 16.796.275 Liabilities Deposits received 3.521.705 2.740.036 Securities sold under repurchase agreements Commercial paper 2.012.276 1.711.056 Advances and shortterm loans 50.000 Bonds 7.401.737 5.883.318 Borrowings and other obligations 938.083 818.972 Other liabilities 320.294 272.687 Liabilities 14.244.095 11.426.069 Stockholders' Equity Paidin capital (authorized capital US$ 10,000 millions) 3.079.870 2.719.645 Reserves 2.229.576 2.156.937 Retained earnings and other 506.974 493.624 Stockholders' Equity 5.816.420 5.370.206 Liabilities and Stockholders' Equity 20.060.515 16.796.275 Income Statement (In thousands of US$) For the three months ended March 31, 2011 2010 Income Interest 99.124 86.769 Other 6.088 1.421 Income 105.212 88.190 Expenses Interest 47.141 37.541 Provisions 7.800 7.037 Administrative 17.951 15.111 Other 67 642 Expenses 72.959 60.331 Innefectiveness arising from fair value hedges and other changes in fair value 4.701 12.861 Net Income 27.552 40.720 CAF s Quarterly Financial Report 1
II. Main Financial Ratios (based on unaudited interim figures) As of March 31, 2011 2010 Profitability ROA 0,6% 1,0% ROE 1,9% 3,0% Net Interest Margin 1,2% 1,3% Asset Quality Overdue Loans (thousands of US$) 0 0 Nonaccrual loans (thousands of US$) 0 0 Overdues /Loan portfolio 0,0% 0,0% NonAccruals / Loan Portfolio 0,0% 0,0% Allowance/Loan portfolio 1,0% 1,2% Loans writtenoff in the year (thousands of US$) 0 0 Capitalization Gearing (times) 2,6 2,3 Leverage (times) 2,4 2,1 Liquidity Liquid Assets/ Financial Liabilities 32,1% 35,0% Liquid Assets / Assets 22,3% 23,2% CAF s Quarterly Financial Report 2
III. Details of Loan Portfolio Loan portfolio distribution by country (in US$ thousands): Argentina Bolivia Brazil Colombia Dominican Republic Costa Rica Ecuador Jamaica Mexico Panama Paraguay Peru Uruguay Venezuela Adjustment* As of March 31, As of December 31, 2011 1.543. 903 1.305. 558 1.314. 129 1.974. 791 2010 1.175.186 1.170.629 993.892 1.722.805 2010 1..395.137 1..301.123 1..115.992 1..965.880 2009 1.156.848 1.157.668 1.033.705 1.688.710 2008 692.961 1.102.062 825.400 1.705.284 123. 842 151. 825 2.530. 671 4. 555 19. 466 199. 604 71. 199 2.512. 495 691. 401 2.501. 328 14.944. 767 6. 894 14.951. 661 100.847 157.950 2.379.343 126.121 27.902 2.092.436 618.272 1.807.680 12.373.062 7.362 12.380.424 119.722 152.388 2..436.631 19.466 139.604 66.049 2..181.681 656.678 2..227.613 13..777.964 5.079 13..783.043 75.000 151.513 2.051.732 126.121 27.687 1.864.529 581.510 1.765.088 11.680.111 6.578 11.686.689 55.428 109.625 2.017.638 100.060 37.165 1.769.725 231.613 1.535.146 10.182.107 1.961,00 10.184.068 * Fair value adjustment on hedging activities Loan portfolio by country as of March 31, 2011 Dominicann Republic 0,8% Colombia 13,2% Costa Rica 1,0% Ecuador 16, 9% Mexico Jamaica 0,1% Pana ama 0,0% 1,3% Paraguay 0,5% Peru 16,8% Uruguay 4, 6% Brazil 8,8% Bolivia 8,7% Argentina 10,3% Venezuela 16,7% CAF s Quarterly Financial Report 3
Loan portfolio distribution by institutional sector (in US$ thousands): As of March 31, As of December 31, 2011 2010 2010 2009 2008 Public Sector Private Sector Adjustment* 11.694.694 3.250.073 14.944.767 6.894 14.951.661 9.727.283 2.645.779 12.373.062 7.362 12.380.424 11.050.387 2.727.577 13.777.964 5.079 13.783.043 9.324.379 2.355.732 11.680.111 6.578 11.686.689 7. 824.514 2. 357.593 10. 182.107 1.961,00 10. 184.068 * Fair value adjustment on hedging activities Loan portfolio by institutional sector as of March 31, 2011 Private Sector 22% Public Sector 78% CAF s Quarterly Financial Report 4
IV. Details of Paidin Capital Paidin Capital as of March 31, 2011 (in US$ thousands): Stockholders Argentina Bolivia Brazil Colombia Ecuador Panama Peru Uruguay Venezuela Chile Costa Rica Dominican Republic Jamaica Mexico Paraguay Portugal Spain Trinidad & Tobagoo Commercial Banks ORDINARY CAPITAL Series "A" 1.200 1.200 1.200 Series "B" 286.425 175.905 214.870 Series "C" Ordinary 287.625 177.105 216.070 % 9, 3% 5, 8% 7, 0% 1.200 625.365 626.565 20, 3% 1.200 1.200 177.315 48.080 178.515 49.280 5, 8% 1, 6% 1.200 626.675 627.875 20, 4% 1.200 71.340 72.540 2, 4% 1.200 626.670 627.870 20, 4% 25.730 25.730 0, 8% 15.280 15.280 0, 5% 2.525 2.525 0, 1% 845 845 0, 0% 21.895 21.895 0, 7% 22.205 22.205 0, 7% 1.760 1.760 0, 1% 97.330 97.330 3, 2% 27.105 27.105 0, 9% 1.750 1.750 0, 1% 10.800 2.854.395 214.675 3.079.870 100% Paidin capital as of March 31, 2011 Uruguay 2,4% Venezuela 20,4% Spain 3,2% Others 5,5% Argentina 9,3% Bolivia 5,8% Peru 20,4% Brazil 7,0% Ecuador 5,8% Colombia 20,3% CAF s Quarterly Financial Report 5