Banco Bradesco S A : Conference Call Presentation - 1Q20

RESULTS

1stQUARTER

2020

MAIN

HIGHLIGHTS

2

HIGHLIGHTS | 1Q20

RECURRING NET

INCOME:

R$3.8billion

-39.8%in 12 months -43.5%in the quarter

ROAE / ROAA: 11.7% / 1.0%

-8.8 p.p. / -0.8 p.p. in 12 months-9.5 p.p. / -0.8 p.p. in the quarter

EXPANDED LOAN PORTFOLIO:R$655.1billion

+17.0%in 12 months

+5.1%in the quarter

DELINQUENCY RATIO

90 DAYS:

3.7%

+40bps in 12 months

+40bps in the quarter

3

SUSPENSION OF THE GUIDANCE | 2020

	GUIDANCE	ACTUAL	ACTUAL
	2020	2M20 X 2M19	1Q20 x 1Q19
Expanded Loan Portfolio	9% to 13%	14.4%	17.0%
Net Interest Income	4% to 8%	11.7%	2.9%
Fee and Commission Income	3% to 7%	3.6%	2.6%
Operating Expenses
(Personnel + Administrative Expenses + Other	0% to 4%	-0.1%	-0.4%
Operating Expenses, Net of Income)
Income from Insurance, Pension Plans and
Capitalization Bonds	4% to 8%	-4.0%	-23.4%
(It includes the financial income of the operation)
Expanded ALL - R$ billion	R$13.5 a R$16.5	R$2.6	R$6.7
		(Realized 2M20)	(Realized 1Q20)

4

PROVISION AND CREDIT RISK

EVALUATION OF THE FUTURE DELINQUENCY SCENARIO

AND CONSEQUENTIAL NEED FOR ADDITIONAL PROVISIONS TO THE IMPACT OF THE

COVID-19 PANDEMIC:

MASS-MARKET LOANS

CREDIT FOR LARGE COMPANIES

Review of the	Deterioration of the	(in up to 59	of each
expectation for 2020	days delinquent) and in		group considering guarantees and
	(from 60 days delinquent until	regarding
Delinquency	the write-off)		possible
based on previous crisis experiences,
in credit	Use of
models and processes and also in credit	by customers
recovery
Worsening in the	Use of	tools.
according to our assumptions	Intensification of

5bradesco.com.br/coronavirus

MASS-MARKETOPERATIONS

D E L I N Q U E N C Y | O V E R 9 0 D A Y S

GLOBAL

CRISIS

CRISIS

in BRAZIL

Individuals

SME

Mar08

Jun08

Sep08

Dec08

Mar09

Jun09

Sep09

Dec09

Mar10

Jun10

Sep10

Dec10

Mar11

Jun11

Sep11

Dec11

Mar12

Jun12

Sep12

Dec12

Mar13

Jun13

Sep13

Dec13

Mar14

Jun14

Sep14

Dec14

Mar15

Jun15

Sep15

Dec15

Mar16

Jun16

Sep16

Dec16

Mar17

Jun17

Sep17

Dec17

Mar18

Jun18

Sep18

Dec18

Mar19

Jun19

Sep19

Dec19

6bradesco.com.br/coronavirus

Source: Quarterly Publications of Bradesco

ALL |ADVERSE ECONOMIC SCENARIO

R$2.4 Bi	R$200 MM
pre-existing	required
provision	provision in
	March 2020

R$ million

29,895

6,901

ADVERSE

2,400 ECONOMIC SCENARIO

4,501

R$2.5 Bi

new supplementary

provision

31,101

200

30,901

9,365

4,865

4,500

R$5.1 Bi

balance of provision

for the ADVERSE

ECONOMIC SCENARIO

PROVISION

ADVERSE

ECONOMIC SCENARIO 5,065

Required Supplementary

DEC19

Required Supplementary

MAR20

7bradesco.com.br/coronavirus

COVID-19|LOAN OPERATIONS

EXTENSION	FINANCING	RELEASE OF LIQUIDITY BY	INCREASE OF CREDIT
OF INSTALLMENTS	OF	ORIGINATION
RESERVE REQUIREMENT
FOR 60 DAYS	PAYROLL
		REDUCTION

Quantity	Quantity
of Operations	of Operations	Financial Volume	Financial
			Volume
Financial Volume	Employees
Total of the	met
Installments*

8bradesco.com.br/coronavirus

* Does not include operations of the Wholesale segment

from 3/16 to 4/23

CONTRIBUTINGTO OVERCOME THE CRISIS

TAKE CARE OF PEOPLE

MAINTAIN

THE PROVISION OF SERVICES

TO SOCIETY

FACILITATE

TO OVERCOME THE CRISISBY ALL STAKEHOLDERS

MAINTAIN

THE BANK

CAPITALIZED

AND LIQUID

9bradesco.com.br/coronavirus

FINANCIAL RESULTS

1stQUARTER

2020

10

RECURRING INCOME STATEMENT

				VARIATION%
R$ MILLION	1Q20	4Q19	1Q19	1Q20 x 4Q19	1Q20 x 1Q19

NET INTEREST INCOME

EXPANDED ALL

GROSS INCOME FROM FINANCIAL INTERMEDIATION

Income from Insurance, Pension Plans and Capitalization Bonds (1)

Fee and Commission Income

Operating Expenses (2)

Tax Expenses / Equity in the earnings (losses) of unconsolidated and jointly controlled subsidiaries

OPERATING INCOME

Income Tax / Social Contribution / Non-Operating Income / Non-controlling interests in subsidiaries

RECURRING NET INCOME

Non-Recurring Events

BOOK NET INCOME

14,499	15,428	14,087	(6.0)	2.9
(6,708)	(3,981)	(3,604)	68.5	86.1
7,791	11,447	10,483	(31.9)	(25.7)
2,931	3,900	3,826	(24.8)	(23.4)
8,283	8,829	8,074	(6.2)	2.6
(11,757)	(12,660)	(11,809)	(7.1)	(0.4)
(1,851)	(1,936)	(1,704)	(4.4)	8.6
5,397	9,580	8,870	(43.7)	(39.2)
(1,644)	(2,935)	(2,632)	(44.0)	(37.5)
3,753	6,645	6,238	(43.5)	(39.8)
(371)	(1,762)	(418)	(78.9)	(11.2)
3,382	4,883	5,820	(30.7)	(41.9)

1. Income from Insurance, Pension Plans and Capitalization Bonds = Retained Premiums from Insurance, Pension Plans and Capitalization Bonds(-) Variation in technical reserves for Insurance, Pension Plans and 11Capitalization Bonds (-) Retained Claims (-) Capitalization Bond Draws and Redemptions (-) Insurance Plan, Pension Plan and Capitalization Bond Selling Expenses + Financial Income of the Operation; and
2. Includes Personnel Expenses + Other Administrative Expenses + Other Operating Expenses, Net of Income.

ROAE / ROAA

ROAE

Reduction of

880 bps

YoY

Shareholders' Equity

R$129,548 2.3% YoY

million

3.1% QoQ

ROAA

Reduction of

80 bps

YoY

Total Assets

R$1,486	7.1% YoY
billion	5.5% QoQ

QUARTELY and SHAREHOLDERS' EQUITY AND TOTAL ASSETS

18.4%	19.0%	19.7%	20.5%	20.6%	20.2%	21.2%	11.7%

2Q18

3Q

4Q

1Q19

2Q

3Q

4Q

1Q20

1.6%	1.6%	1.7%	1.8%	1.9%	1.9%	1.9%	1.0%

2Q18

3Q

4Q

1Q19

2Q

3Q

4Q

1Q20

12

EXPANDED LOAN

PORTFOLIO
	VARIATION%
MAR20 DEC19	MAR19
Q-o-QY-o-Y

R$ MILLION

• IN RELATION TO TOTAL
  MAR20

COMPANIES	415,880	389,966	359,622	6.6	15.6	63.5
Large Corporates	296,733	275,890	258,462	7.6	14.8	45.3
Micro, Small and Medium-Sized Enterprises	119,148	114,076	101,160	4.4	17.8	18.2
INDIVIDUALS	239,214	233,079	200,198	2.6	19.5	36.5
Payroll-deductible Loans	65,320	62,987	53,505	3.7	22.1	10.0
Real Estate Financing	46,173	44,288	39,759	4.3	16.1	7.0
Credit Card	39,496	41,114	34,319	(3.9)	15.1	6.0
CDC / Vehicle Leasing	29,471	28,987	24,628	1.7	19.7	4.5
Personal Loans	29,639	26,918	21,688	10.1	36.7	4.5
Others	29,114	28,785	26,299	1.1	10.7	4.4
TOTAL EXPANDED LOAN PORTFOLIO	655,094	623,045	559,820	5.1	17.0	100.0
		WITHOUT EXCHANGE VARIATION	3.4	14.8

13

NET INTEREST INCOME

Net Interest Income	Client Portion
14,499	6.0% QoQ	12,964	0.1%
2.9% YoY	8.4%

Client Portion

Gross Spread x Net Spread

QoQ

YoY

Market Portion

1,535 37.2%

27.8%

R$ MILLION

QoQ

YoY

14

NPL CREATION AND

ALLOWANCE FOR LOAN LOSSES (ALL) EXPENSES

R$ BILLION

NPL Creation>90 days x ALL Expenses Recurring

Expanded ALL /Expanded Loan Portfolio

15

DELINQUENCY

RATIO - OVER90 DAYS

+90

5.2%
	4.7%	4.4%	4.3%		4.3%	4.4%	4.8%
4.8%		4.3%
4.5%					3.7%	4.5%
	4.2%	4.2%	4.1%	4.3%
3.9%	3.6%	3.5%	3.3%	3.2%	3.6%	3.3%	3.7%
1.7%	1.5%	1.5%			1.5%		1.2%
			1.0%
			0.8%		0.8%

June18	Sept	Dec	Mar19	June	Sept	Dec	Mar20
	Individuals	Micro, Small and Medium-Sized Enterprises	Total	Large Corporates

16

COVERAGE RATIO

OVER 90 DAYS

Coverage Ratio over 90 days			Net Losses in 12 months		Total Provision
Delinquency Ratio over 90 days				E-HNon-Performing Loans

17

FEE

AND COMMISSION INCOME

				VARIATION%
R$ MILLION	1Q20	4Q19	1Q19	1Q20 x 4Q19	1Q20 x 1Q19
Card Income	2,700	2,906	2,766	(7.1)	(2.4)
Checking Account	1,980	1,980	1,851	-	7.0
Asset Management	913	968	966	(5.7)	(5.5)
Loans Operations	721	807	726	(10.7)	(0.7)
Collections and Payments	659	653	641	0.9	2.8
Consortium Management	490	513	457	(4.5)	7.2
Custody and Brokerage Services	346	307	264	12.7	31.1
Underwriting / Financial Advisory Services	192	434	121	(55.8)	58.7
Others	282	261	282	8.0	-

TOTAL

8,283

8,829

8,074

(6.2)

2.6

18

OPERATING EXPENSES

VARIATION%

R$ MILLION	1Q20	4Q19	1Q19	1Q20 x 4Q19	1Q20 x 1Q19
PERSONNEL	5,321	5,468	5,158	(2.7)	3.2
Structural	4,289	4,289	4,089	-	4.9
Non-Structural	1,032	1,179	1,069	(12.5)	(3.5)
- Management and Employee Profit Sharing	778	708	695	9.9	11.9
- Provision for Labor Claims	148	325	259	(54.5)	(42.9)
- Training	34	49	34	(30.6)	-
- Termination Costs	72	97	81	(25.8)	(11.1)

ADMINISTRATIVE

SUBTOTAL PERSONNEL + ADMINISTRATIVE

OTHER OPERATING EXPENSES, NET OF INCOME

TOTAL

5,078	5,811	5,026	(12.6)	1.0
10,399	11,279	10,184	(7.8)	2.1
1,358	1,381	1,625	(1.7)	(16.4)
11,757	12,660	11,809	(7.1)	(0.4)

Variation

(In Quantity)

Mar20 x Dec19 Mar20 x Mar19

(95)(1,922)

(78)(194)

19

INSURANCE, PENSION PLANS AND CAPITALIZATION BONDS

Income from Insurance Operations,	Combined Ratio and Claims Ratio
Pension Plans and Capitalization Bonds	Quartely
R$ MILLION

Combined Ratio Claims Ratio

20

BIS RATIO

Tier I

Changes in the Tier I Ratio in the Quarter

Limits 2020 (1)

9.5% Tier I

8.0% Common

Equity

Common Equity Additional Capital

21	(1) They refer to the required minimums, in accordance with Resolution No. 4,193/13, added to the additional capital contributions established by Circulars No. 3,768/15 and No. 3,769/15. It is noteworthy that, from April 1,
2020, the minimum required capital shall be 8.25% for tier I capital and 6.75% for the common equity, according to Resolution No. 4,783/20.

THANK YOU

RESULTS

1stQUARTER

2020

22

ADDITIONAL SLIDES

RESULTS

1stQUARTER

2020

23

LOAN PORTFOLIO

BACEN X EXPANDED

	MAR20	DEC19	MAR19	VARIATION%
R$ MILLION	Q-o-Q	Y-o-Y
Individuals	237,261	231,468	199,480	2.5	18.9
Companies	240,315	222,505	220,734	8.0	8.9
TOTAL LOAN PORTFOLIO - BACEN	477,577	453,973	420,214	5.2	13.7
Sureties and Guarantees	84,890	78,231	73,314	8.5	15.8
Operations bearing Credit Risk - Commercial Portfolio (1)	62,484	61,770	49,364	1.2	26.6
Other (2)	30,143	29,070	16,928	3.7	78.1
TOTAL EXPANDED LOAN PORTFOLIO	655,094	623,045	559,820	5.1	17.0
		WITHOUT EXCHANGE VARIATION	3.4	14.8

1. It includes debentures operations and promissory notes; and
2. It considers letters of credit, advances of credit card receivables, rural product notes (CPR), certificates of real estate receivables (CRI), certificate of agribusiness credit rights (CDCA),receivables-backed investment

24funds (FIDC) and co-obligation in the assignment (CRI and rural credit).

LOAN ORIGINATION PER BUSINESS DAY

EARMARKED AND NON-EARMARKED LOANS

TOTAL	INDIVIDUALS	118	124	123

100

1Q19 2Q 3Q 4Q 1Q20

COMPANIES

1Q19(1)	2Q	3Q	4Q	1Q20(1)
Base 100				Base 100	1Q19	2Q	3Q	4Q	1Q20

25	Note: Does not include sureties and guarantees, debentures, foreign exchange products and limits. And includes financial Rural Product Notes (CPR).
(1) In the 1Q120, the total amount originated per business day was R$ 1.7 billion (R$ 1.2 billion in the 41Q19).

NPL CREATION

90-DAYS BY PORTFOLIO

R$ BILLION

TOTAL

LARGE CORPORATES

'

MICRO, SMALL AND MEDIUM-SIZED ENTERPRISES

INDIVIDUALS

26		NPL Creation		Write-offs		NPL Creation / Loan Portfolio - As defined by the Central Bank

RECURRING NET INCOME AND

EARNINGS PER SHARE

R$ MILLION

Credit Intermediation		Fees		Securities/Others		Insurance		Earnings per Share (In the last 12 Months) - R$

27

EFFICIENCY AND

OPERATING COVERAGE RATIOS

80.4%	79.3%
	78.1%	77.8%	77.9%

66.7%

64.5%	64.2%	63.9%	63.4%

49.5%	49.4%	49.5%	49.1%
		49.0%

48.6%

49.2%

49.9%

48.3%

49.3%

1Q19

2Q

3Q

4Q

1Q20

Quartely ER

12-monthrisk-adjusted ER

Operating Coverage Ratio (Fees / Personnel + Administrative Expenses) - Acumulated for 12 months

28		12-month ER

RENEGOTIATED

PORTFOLIO

18.9

12.2

80.3%

16.9%

4.5%

19.6	18.8	19.0	19.6
12.3	13.0	13.6	14.1

78.0%

66.4%

66.8%

66.8%

16.7%	19.0%	17.4%	20.8%
4.6%	4.2%	4.2%	4.1%

Mar19	June	Sept		Dec	Mar20
Renegotiated Portfolio - R$ billion			Renegotiated Portfolio (Excluding Loans from Write-offs) - R$ billion
Allowance for Loan Losses as a % of the Total Renegotiated Portfolio		Total Renegotiated Portfolio / Loan Portfolio
90-day delinquency ratio

29

INCOME FROMINSURANCE, PENSION PLANS

AND CAPITALIZATION BONDS

				VARIATION%
				(unless otherwise stated)
R$ MILLION	1Q20	4Q19	1Q19	1Q20 x 4Q19	1Q20 x 1Q19
Life and Pension Plans	9,062	10,845	8,685	(16.4)	4.3
Health	7,146	7,117	6,586	0.4	8.5
Auto/P&C + DPVAT	1,298	1,422	1,313	(8.7)	(1.1)
Capitalization Bonds	1,460	1,654	1,478	(11.7)	(1.2)
OVERALL INCOME	18,966	21,038	18,062	(9.8)	5.0
INCOME FROM INSURANCE, PENSION	2,931	3,900	3,826	(24.9)	(23.4)
PLANS AND CAPITALIZATION BONDS (1)
FINANCIAL ASSETS	298,754	306,876	291,422	(2.6)	2.5
TECHNICAL PROVISIONS	272,257	274,765	261,106	(0.9)	4.3
SHAREHOLDERS' EQUITY	35,946	38,614	32,209	(6.9)	11.6
NET INCOME	1,158	1,919	1,814	(39.7)	(36.2)
ROAE	13.4%	24.2%	23.4%	(10.8) p.p.	(10.0) p.p.

30	(1) Income from Insurance, Pension Plans and Capitalization Bonds = Retained Premiums from Insurance, Pension Plans and Capitalization Bonds (-) Variation in technical reserves for Insurance, Pension Plans
and Capitalization Bonds (-) Retained Claims (-) Capitalization Bond Draws and Redemptions (-) Insurance Plan, Pension Plan and Capitalization Bond Selling Expenses + Financial Income of the Operation.

RESULTS

1stQUARTER

2020

RESULTS

1stQUARTER

2020

MAIN

HIGHLIGHTS

2

HIGHLIGHTS | 1Q20

RECURRING NET

INCOME:

R$3.8billion

-39.8%in 12 months -43.5%in the quarter

ROAE / ROAA: 11.7% / 1.0%

-8.8 p.p. / -0.8 p.p. in 12 months-9.5 p.p. / -0.8 p.p. in the quarter

EXPANDED LOAN PORTFOLIO:R$655.1billion

+17.0%in 12 months

+5.1%in the quarter

DELINQUENCY RATIO

90 DAYS:

3.7%

+40bps in 12 months

+40bps in the quarter

3

SUSPENSION OF THE GUIDANCE | 2020

	GUIDANCE	ACTUAL	ACTUAL
	2020	2M20 X 2M19	1Q20 x 1Q19
Expanded Loan Portfolio	9% to 13%	14.4%	17.0%
Net Interest Income	4% to 8%	11.7%	2.9%
Fee and Commission Income	3% to 7%	3.6%	2.6%
Operating Expenses
(Personnel + Administrative Expenses + Other	0% to 4%	-0.1%	-0.4%
Operating Expenses, Net of Income)
Income from Insurance, Pension Plans and
Capitalization Bonds	4% to 8%	-4.0%	-23.4%
(It includes the financial income of the operation)
Expanded ALL - R$ billion	R$13.5 a R$16.5	R$2.6	R$6.7
		(Realized 2M20)	(Realized 1Q20)

4

PROVISION AND CREDIT RISK

EVALUATION OF THE FUTURE DELINQUENCY SCENARIO

AND CONSEQUENTIAL NEED FOR ADDITIONAL PROVISIONS TO THE IMPACT OF THE

COVID-19 PANDEMIC:

MASS-MARKET LOANS

CREDIT FOR LARGE COMPANIES

Review of the	Deterioration of the	(in up to 59	of each
expectation for 2020	days delinquent) and in		group considering guarantees and
	(from 60 days delinquent until	regarding
Delinquency	the write-off)		possible
based on previous crisis experiences,
in credit	Use of
models and processes and also in credit	by customers
recovery
Worsening in the	Use of	tools.
according to our assumptions	Intensification of

5bradesco.com.br/coronavirus

MASS-MARKETOPERATIONS

D E L I N Q U E N C Y | O V E R 9 0 D A Y S

GLOBAL

CRISIS

CRISIS

in BRAZIL

Individuals

SME

Mar08

Jun08

Sep08

Dec08

Mar09

Jun09

Sep09

Dec09

Mar10

Jun10

Sep10

Dec10

Mar11

Jun11

Sep11

Dec11

Mar12

Jun12

Sep12

Dec12

Mar13

Jun13

Sep13

Dec13

Mar14

Jun14

Sep14

Dec14

Mar15

Jun15

Sep15

Dec15

Mar16

Jun16

Sep16

Dec16

Mar17

Jun17

Sep17

Dec17

Mar18

Jun18

Sep18

Dec18

Mar19

Jun19

Sep19

Dec19

6bradesco.com.br/coronavirus

Source: Quarterly Publications of Bradesco

ALL |ADVERSE ECONOMIC SCENARIO

R$2.4 Bi	R$200 MM
pre-existing	required
provision	provision in
	March 2020

R$ million

29,895

6,901

ADVERSE

2,400 ECONOMIC SCENARIO

4,501

R$2.5 Bi

new supplementary

provision

31,101

200

30,901

9,365

4,865

4,500

R$5.1 Bi

balance of provision

for the ADVERSE

ECONOMIC SCENARIO

PROVISION

ADVERSE

ECONOMIC SCENARIO 5,065

Required Supplementary

DEC19

Required Supplementary

MAR20

7bradesco.com.br/coronavirus

COVID-19|LOAN OPERATIONS

EXTENSION	FINANCING	RELEASE OF LIQUIDITY BY	INCREASE OF CREDIT
OF INSTALLMENTS	OF	ORIGINATION
RESERVE REQUIREMENT
FOR 60 DAYS	PAYROLL
		REDUCTION

Quantity	Quantity
of Operations	of Operations	Financial Volume	Financial
			Volume
Financial Volume	Employees
Total of the	met
Installments*

8bradesco.com.br/coronavirus

* Does not include operations of the Wholesale segment

from 3/16 to 4/23

CONTRIBUTINGTO OVERCOME THE CRISIS

TAKE CARE OF PEOPLE

MAINTAIN

THE PROVISION OF SERVICES

TO SOCIETY

FACILITATE

TO OVERCOME THE CRISISBY ALL STAKEHOLDERS

MAINTAIN

THE BANK

CAPITALIZED

AND LIQUID

9bradesco.com.br/coronavirus

FINANCIAL RESULTS

1stQUARTER

2020

10

RECURRING INCOME STATEMENT

				VARIATION%
R$ MILLION	1Q20	4Q19	1Q19	1Q20 x 4Q19	1Q20 x 1Q19

NET INTEREST INCOME

EXPANDED ALL

GROSS INCOME FROM FINANCIAL INTERMEDIATION

Income from Insurance, Pension Plans and Capitalization Bonds (1)

Fee and Commission Income

Operating Expenses (2)

Tax Expenses / Equity in the earnings (losses) of unconsolidated and jointly controlled subsidiaries

OPERATING INCOME

Income Tax / Social Contribution / Non-Operating Income / Non-controlling interests in subsidiaries

RECURRING NET INCOME

Non-Recurring Events

BOOK NET INCOME

14,499	15,428	14,087	(6.0)	2.9
(6,708)	(3,981)	(3,604)	68.5	86.1
7,791	11,447	10,483	(31.9)	(25.7)
2,931	3,900	3,826	(24.8)	(23.4)
8,283	8,829	8,074	(6.2)	2.6
(11,757)	(12,660)	(11,809)	(7.1)	(0.4)
(1,851)	(1,936)	(1,704)	(4.4)	8.6
5,397	9,580	8,870	(43.7)	(39.2)
(1,644)	(2,935)	(2,632)	(44.0)	(37.5)
3,753	6,645	6,238	(43.5)	(39.8)
(371)	(1,762)	(418)	(78.9)	(11.2)
3,382	4,883	5,820	(30.7)	(41.9)

1. Income from Insurance, Pension Plans and Capitalization Bonds = Retained Premiums from Insurance, Pension Plans and Capitalization Bonds(-) Variation in technical reserves for Insurance, Pension Plans and 11Capitalization Bonds (-) Retained Claims (-) Capitalization Bond Draws and Redemptions (-) Insurance Plan, Pension Plan and Capitalization Bond Selling Expenses + Financial Income of the Operation; and
2. Includes Personnel Expenses + Other Administrative Expenses + Other Operating Expenses, Net of Income.

ROAE / ROAA

ROAE

Reduction of

880 bps

YoY

Shareholders' Equity

R$129,548 2.3% YoY

million

3.1% QoQ

ROAA

Reduction of

80 bps

YoY

Total Assets

R$1,486	7.1% YoY
billion	5.5% QoQ

QUARTELY and SHAREHOLDERS' EQUITY AND TOTAL ASSETS

18.4%	19.0%	19.7%	20.5%	20.6%	20.2%	21.2%	11.7%

2Q18

3Q

4Q

1Q19

2Q

3Q

4Q

1Q20

1.6%	1.6%	1.7%	1.8%	1.9%	1.9%	1.9%	1.0%

2Q18

3Q

4Q

1Q19

2Q

3Q

4Q

1Q20

12

EXPANDED LOAN

PORTFOLIO
	VARIATION%
MAR20 DEC19	MAR19
Q-o-QY-o-Y

R$ MILLION

• IN RELATION TO TOTAL
  MAR20

COMPANIES	415,880	389,966	359,622	6.6	15.6	63.5
Large Corporates	296,733	275,890	258,462	7.6	14.8	45.3
Micro, Small and Medium-Sized Enterprises	119,148	114,076	101,160	4.4	17.8	18.2
INDIVIDUALS	239,214	233,079	200,198	2.6	19.5	36.5
Payroll-deductible Loans	65,320	62,987	53,505	3.7	22.1	10.0
Real Estate Financing	46,173	44,288	39,759	4.3	16.1	7.0
Credit Card	39,496	41,114	34,319	(3.9)	15.1	6.0
CDC / Vehicle Leasing	29,471	28,987	24,628	1.7	19.7	4.5
Personal Loans	29,639	26,918	21,688	10.1	36.7	4.5
Others	29,114	28,785	26,299	1.1	10.7	4.4
TOTAL EXPANDED LOAN PORTFOLIO	655,094	623,045	559,820	5.1	17.0	100.0
		WITHOUT EXCHANGE VARIATION	3.4	14.8

13

NET INTEREST INCOME

Net Interest Income	Client Portion
14,499	6.0% QoQ	12,964	0.1%
2.9% YoY	8.4%

Client Portion

Gross Spread x Net Spread

QoQ

YoY

Market Portion

1,535 37.2%

27.8%

R$ MILLION

QoQ

YoY

14

NPL CREATION AND

ALLOWANCE FOR LOAN LOSSES (ALL) EXPENSES

R$ BILLION

NPL Creation>90 days x ALL Expenses Recurring

Expanded ALL /Expanded Loan Portfolio

15

DELINQUENCY

RATIO - OVER90 DAYS

+90

5.2%
	4.7%	4.4%	4.3%		4.3%	4.4%	4.8%
4.8%		4.3%
4.5%					3.7%	4.5%
	4.2%	4.2%	4.1%	4.3%
3.9%	3.6%	3.5%	3.3%	3.2%	3.6%	3.3%	3.7%
1.7%	1.5%	1.5%			1.5%		1.2%
			1.0%
			0.8%		0.8%

June18	Sept	Dec	Mar19	June	Sept	Dec	Mar20
	Individuals	Micro, Small and Medium-Sized Enterprises	Total	Large Corporates

16

COVERAGE RATIO

OVER 90 DAYS

Coverage Ratio over 90 days			Net Losses in 12 months		Total Provision
Delinquency Ratio over 90 days				E-HNon-Performing Loans

17

FEE

AND COMMISSION INCOME

				VARIATION%
R$ MILLION	1Q20	4Q19	1Q19	1Q20 x 4Q19	1Q20 x 1Q19
Card Income	2,700	2,906	2,766	(7.1)	(2.4)
Checking Account	1,980	1,980	1,851	-	7.0
Asset Management	913	968	966	(5.7)	(5.5)
Loans Operations	721	807	726	(10.7)	(0.7)
Collections and Payments	659	653	641	0.9	2.8
Consortium Management	490	513	457	(4.5)	7.2
Custody and Brokerage Services	346	307	264	12.7	31.1
Underwriting / Financial Advisory Services	192	434	121	(55.8)	58.7
Others	282	261	282	8.0	-

TOTAL

8,283

8,829

8,074

(6.2)

2.6

18

OPERATING EXPENSES

VARIATION%

R$ MILLION	1Q20	4Q19	1Q19	1Q20 x 4Q19	1Q20 x 1Q19
PERSONNEL	5,321	5,468	5,158	(2.7)	3.2
Structural	4,289	4,289	4,089	-	4.9
Non-Structural	1,032	1,179	1,069	(12.5)	(3.5)
- Management and Employee Profit Sharing	778	708	695	9.9	11.9
- Provision for Labor Claims	148	325	259	(54.5)	(42.9)
- Training	34	49	34	(30.6)	-
- Termination Costs	72	97	81	(25.8)	(11.1)

ADMINISTRATIVE

SUBTOTAL PERSONNEL + ADMINISTRATIVE

OTHER OPERATING EXPENSES, NET OF INCOME

TOTAL

5,078	5,811	5,026	(12.6)	1.0
10,399	11,279	10,184	(7.8)	2.1
1,358	1,381	1,625	(1.7)	(16.4)
11,757	12,660	11,809	(7.1)	(0.4)

Variation

(In Quantity)

Mar20 x Dec19 Mar20 x Mar19

(95)(1,922)

(78)(194)

19

INSURANCE, PENSION PLANS AND CAPITALIZATION BONDS

Income from Insurance Operations,	Combined Ratio and Claims Ratio
Pension Plans and Capitalization Bonds	Quartely
R$ MILLION

Combined Ratio Claims Ratio

20

BIS RATIO

Tier I

Changes in the Tier I Ratio in the Quarter

Limits 2020 (1)

9.5% Tier I

8.0% Common

Equity

Common Equity Additional Capital

21	(1) They refer to the required minimums, in accordance with Resolution No. 4,193/13, added to the additional capital contributions established by Circulars No. 3,768/15 and No. 3,769/15. It is noteworthy that, from April 1,
2020, the minimum required capital shall be 8.25% for tier I capital and 6.75% for the common equity, according to Resolution No. 4,783/20.

THANK YOU

RESULTS

1stQUARTER

2020

22

ADDITIONAL SLIDES

RESULTS

1stQUARTER

2020

23

LOAN PORTFOLIO

BACEN X EXPANDED

	MAR20	DEC19	MAR19	VARIATION%
R$ MILLION	Q-o-Q	Y-o-Y
Individuals	237,261	231,468	199,480	2.5	18.9
Companies	240,315	222,505	220,734	8.0	8.9
TOTAL LOAN PORTFOLIO - BACEN	477,577	453,973	420,214	5.2	13.7
Sureties and Guarantees	84,890	78,231	73,314	8.5	15.8
Operations bearing Credit Risk - Commercial Portfolio (1)	62,484	61,770	49,364	1.2	26.6
Other (2)	30,143	29,070	16,928	3.7	78.1
TOTAL EXPANDED LOAN PORTFOLIO	655,094	623,045	559,820	5.1	17.0
		WITHOUT EXCHANGE VARIATION	3.4	14.8

1. It includes debentures operations and promissory notes; and
2. It considers letters of credit, advances of credit card receivables, rural product notes (CPR), certificates of real estate receivables (CRI), certificate of agribusiness credit rights (CDCA),receivables-backed investment

24funds (FIDC) and co-obligation in the assignment (CRI and rural credit).

LOAN ORIGINATION PER BUSINESS DAY

EARMARKED AND NON-EARMARKED LOANS

TOTAL	INDIVIDUALS	118	124	123

100

1Q19 2Q 3Q 4Q 1Q20

COMPANIES

1Q19(1)	2Q	3Q	4Q	1Q20(1)
Base 100				Base 100	1Q19	2Q	3Q	4Q	1Q20

25	Note: Does not include sureties and guarantees, debentures, foreign exchange products and limits. And includes financial Rural Product Notes (CPR).
(1) In the 1Q120, the total amount originated per business day was R$ 1.7 billion (R$ 1.2 billion in the 41Q19).

NPL CREATION

90-DAYS BY PORTFOLIO

R$ BILLION

TOTAL

LARGE CORPORATES

'

MICRO, SMALL AND MEDIUM-SIZED ENTERPRISES

INDIVIDUALS

26		NPL Creation		Write-offs		NPL Creation / Loan Portfolio - As defined by the Central Bank

RECURRING NET INCOME AND

EARNINGS PER SHARE

R$ MILLION

Credit Intermediation		Fees		Securities/Others		Insurance		Earnings per Share (In the last 12 Months) - R$

27

EFFICIENCY AND

OPERATING COVERAGE RATIOS

80.4%	79.3%
	78.1%	77.8%	77.9%

66.7%

64.5%	64.2%	63.9%	63.4%

49.5%	49.4%	49.5%	49.1%
		49.0%

48.6%

49.2%

49.9%

48.3%

49.3%

1Q19

2Q

3Q

4Q

1Q20

Quartely ER

12-monthrisk-adjusted ER

Operating Coverage Ratio (Fees / Personnel + Administrative Expenses) - Acumulated for 12 months

28		12-month ER

RENEGOTIATED

PORTFOLIO

18.9

12.2

80.3%

16.9%

4.5%

19.6	18.8	19.0	19.6
12.3	13.0	13.6	14.1

78.0%

66.4%

66.8%

66.8%

16.7%	19.0%	17.4%	20.8%
4.6%	4.2%	4.2%	4.1%

Mar19	June	Sept		Dec	Mar20
Renegotiated Portfolio - R$ billion			Renegotiated Portfolio (Excluding Loans from Write-offs) - R$ billion
Allowance for Loan Losses as a % of the Total Renegotiated Portfolio		Total Renegotiated Portfolio / Loan Portfolio
90-day delinquency ratio

29

INCOME FROMINSURANCE, PENSION PLANS

AND CAPITALIZATION BONDS

				VARIATION%
				(unless otherwise stated)
R$ MILLION	1Q20	4Q19	1Q19	1Q20 x 4Q19	1Q20 x 1Q19
Life and Pension Plans	9,062	10,845	8,685	(16.4)	4.3
Health	7,146	7,117	6,586	0.4	8.5
Auto/P&C + DPVAT	1,298	1,422	1,313	(8.7)	(1.1)
Capitalization Bonds	1,460	1,654	1,478	(11.7)	(1.2)
OVERALL INCOME	18,966	21,038	18,062	(9.8)	5.0
INCOME FROM INSURANCE, PENSION	2,931	3,900	3,826	(24.9)	(23.4)
PLANS AND CAPITALIZATION BONDS (1)
FINANCIAL ASSETS	298,754	306,876	291,422	(2.6)	2.5
TECHNICAL PROVISIONS	272,257	274,765	261,106	(0.9)	4.3
SHAREHOLDERS' EQUITY	35,946	38,614	32,209	(6.9)	11.6
NET INCOME	1,158	1,919	1,814	(39.7)	(36.2)
ROAE	13.4%	24.2%	23.4%	(10.8) p.p.	(10.0) p.p.

30	(1) Income from Insurance, Pension Plans and Capitalization Bonds = Retained Premiums from Insurance, Pension Plans and Capitalization Bonds (-) Variation in technical reserves for Insurance, Pension Plans
and Capitalization Bonds (-) Retained Claims (-) Capitalization Bond Draws and Redemptions (-) Insurance Plan, Pension Plan and Capitalization Bond Selling Expenses + Financial Income of the Operation.

RESULTS

1stQUARTER

2020