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Financial Statements FINANCIAL STATEMENTS December 2020 ______________________________________________ | 1 INDEX MESSAGE FROM THE CEO....................................................................................................................................................................................... 6 PRESS RELEASE ....................................................................................................................................................................................................... 8 COVID-19 PANDEMIC .................................................................................................................................................................................................... 10 OTHER INFORMATION .................................................................................................................................................................................................. 10 FINANCIAL HIGHLIGHTS ................................................................................................................................................................................................ 11 OPERATIONAL HIGHLIGHTS ........................................................................................................................................................................................... 12 GUIDANCE ..................................................................................................................................................................................................................... 15 ANALYSIS OF PERFORMANCE ................................................................................................................................................................................16 MARKET SHARE ............................................................................................................................................................................................................. 17 MARGIN ANALYSIS ........................................................................................................................................................................................................ 18 Financial Intermediation Performance .................................................................................................................................18 Variations in Interest Income and Expenses: Volumes and Rates ........................................................................................19 STOCK MARKET PERFORMANCE ................................................................................................................................................................................... 21 ASSET EVOLUTION ......................................................................................................................................................................................................... 22 Total Assets ...........................................................................................................................................................................22 Securities and Derivatives .....................................................................................................................................................22 Credit Operations ..................................................................................................................................................................23 Default Rate ..........................................................................................................................................................................29 Coverage Ratio ......................................................................................................................................................................29 Funding .................................................................................................................................................................................30 Assets Under Management ..................................................................................................................................................31 Shareholders’ Equity .............................................................................................................................................................31 Basel Ratio ............................................................................................................................................................................32 EVOLUTION OF INCOME STATEMENT ACCOUNTS ........................................................................................................................................................ 33 Net Income ...........................................................................................................................................................................33 Financial Income ...................................................................................................................................................................34 Revenues from Credit Operations ........................................................................................................................................35 Revenues from Securities and Derivatives ............................................................................................................................37 Revenues from Foreign Exchange .........................................................................................................................................38 Revenues from Compulsory Deposits ...................................................................................................................................38 Financial Expenses ................................................................................................................................................................39 Expenses with Market Funding Operations ..........................................................................................................................39 Funding Cost .........................................................................................................................................................................40 Expenses with Borrowings and Onlendings ..........................................................................................................................40 Financial Margin....................................................................................................................................................................41 Allowance for Loan Losses ....................................................................................................................................................41 Revenues from Services and Banking Fees ...........................................................................................................................42 Adjusted Administrative Expenses ........................................................................................................................................42 Other Adjusted Income .........................................................................................................................................................43 Other Adjusted Expenses ......................................................................................................................................................44 SUMMARY CONSOLIDATED PRO FORMA BALANCE SHEET........................................................................................................................................... 45 ADJUSTED PRO FORMA CONSOLIDATED INCOME STATEMENT ................................................................................................................................... 46 MANAGEMENT REPORT ........................................................................................................................................................................................47 ECONOMIC SCENARIO ................................................................................................................................................................................................... 48 CORPORATE AND BUSINESS STRATEGY ........................................................................................................................................................................ 49 Corporate Strategy................................................................................................................................................................49 Business Strategy ..................................................................................................................................................................50 CONSOLIDATED PERFORMANCE ................................................................................................................................................................................... 51 Net Income ...........................................................................................................................................................................51 Shareholders´ Equity .............................................................................................................................................................51 Total Assets ...........................................................................................................................................................................52
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