Conference Call

1st Quarter - 2019

Highlights

  • Consolidation of the Bank's strategy to increase its operations in the Corporate II segment, with expanded loan portfolio reaching R$ 837 million (13.3% growth over the previous quarter) and 217 clients.
  • Income from financial intermediation grew 28.1% in 1Q19 in relation to 4Q18, reaching R$ 131 million. In relation to the same period of the previous year, there was a decrease of 10.4%. It is worth mentioning that the income from financial intermediation was based on the expanded loan portfolio of R$ 4.3 billion (22.2% lower than the loan portfolio of 1Q18 - R$ 5.4 billion), reflecting the success of the implementation of the Pine´s strategy to insert in the Corporate II Segment in exchange for the reduction of exposure in the Corporate I Segment.
  • Increase of Pine's number of active clients by 24.1% versus the same period of 2018, totaling 490 groups.
  • Continuous loan portfolio diversification, with an average ticket under R$ 9.0 million.
  • BIS ratio of 12.3%, which is appropriate for the Bank's strategy.
  • Balance sheet with a very comfortable liquidity level of R$ 2.3 billion.
  • Diversified funding strategy maintained, with approximately 86.9% of the portfolio represented by individuals' deposits, with an average ticket around R$ 70 thousand.
  • Operational optimization and cost controls resulted in lower administrative expenses, which fell by 15.5% versus the previous quarter, in line with the Bank's new structure.
  • Growth recovery of the Expanded Loan Portfolio, reflecting the commercial effort in the implementation of the Bank's new strategy.

2

Portfolio Results - 1Q19

R$ '000

1Q19

4Q18

QoQ

Gross inc ome from financ ial intermediation

19,260

(23,502)

N/D

Income from financial intermediation

130,735

102,044

28.1%

Gross income from financial intermediation

(111,475)

(125,546)

-11.2%

Corporate Portfolio

6,639

32,900

-79.8%

Gross income from financial intermediation

12,834

26,124

-50.9%

Provision for loan losses

(6,195)

6,775

N/D

Monitored Portfolio

12,621

(56,402)

N/D

Gross income from financial intermediation

(23,610)

(46,815)

-49.6%

Provision for loan losses

36,231

(9,586)

N/D

Fee inc ome

10,368

15,712

-34.0%

Corporate Portfolio

10,055

15,393

-34.7%

Monitored Portfolio

314

319

-1.8%

Personnel expenses

(20,714)

(23,187)

-10.7%

Administrative expenses

(20,383)

(25,896)

-21.3%

Tax expenses

(11,628)

(1,881)

518.2%

Other operating (expenses) inc ome

(36,915)

(7,605)

385.4%

Operating inc ome

(60,011)

(66,359)

-9.6%

Corporate Portfolio

16,871

2,037

728.0%

Monitored Portfolio

416

390

6.7%

Non-operating Inc ome

17,287

2,427

612.3%

Inc ome tax and soc ial c ontribution

3,530

(3,445)

N/D

Profit Sharing

(1,552)

(7,630)

-79.7%

3

Ac c ounting Net inc ome

(40,747)

(75,007)

-45.7%

Financial Margin - 1Q19

R$ million

1Q19

4Q18

1Q18

Financial Margin

Income from financial intermediation

28

(15)

37

Extraordinary income (A)

-

-

1

Provision for loan losses

(30)

3

(20)

Overhedge effect

(8)

(8)

(1)

Managerial income from financial intermediation¹ (B)

(11)

(21)

17

Average earning assets² (C)

5,534

5,550

5,571

Managerial Financial Margin (%) (B-A)/C

-0.8%

-1.5%

1.2%

Financial Margin (%) (B/C)

-0.8%

-1.5%

1.2%

  1. Income from financial intermediation includes a non-recurring effect in the margin.
  2. Excludes repo transactions and the liability portion of derivatives and term sale of non-operating assets.

4

Closed Deals¹

1,737

1,006

605621

456

1Q18

2Q18

3Q18

4Q18

1Q19

¹Closed Deals matches assets, onlendings, working capital, trade finance, exchange, guarantees among others.

Operational Data

125 232

55 109

165 352

jan17 fev17

5

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Banco Pine SA published this content on 05 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 October 2019 00:46:22 UTC