DOCSLIB.ORG

Banco Safra S.A

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Consolidated Financial Statements of the Prudential Conglomerate | Banco Safra S.A. Consolidated Financial Statements for the period ended September 30, 2020 Banco Safra S.A. CNPJ 58.160.789/0001-28 Avenida Paulista, 2.100 - Bela Vista, São Paulo, SP José Manuel da Costa Gomes Accountant – CRC nº 1SP219892/O-0 Independent Auditors’ Report Deloitte Touche Tohmatsu Auditores Independente (A free translation of the original report in Portuguese as published in Brazil) 1 Consolidated Financial Statements | Banco Safra S.A. CONTENTS CONSOLIDATED FINANCIAL STATEMENTS STATEMENT OF FINANCIAL POSITION _______________________________________________________________________________ 2 STATEMENT OF INCOME AND COMPREHENSIVE INCOME FOR THE PERIOD__________________________________________________3 STATEMENT OF CHANGES IN EQUITY ______________________________________________________________________________4 STATEMENT OF CASH FLOWS ____________________________________________________________________________________ 5 NOTES TO THE FINANCIAL STATEMENTS 1. OPERATIONS _________________________________________________________________________________________________ 6 2. PRESENTATION OF THE FINANCIAL STATEMENTS______________________________________________________________________ 6 3. SIGNIFICANT ACCOUNTING POLICIES _______________________________________________________________________________ 7 4. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS __________________________________________________________________13 5. CASH AND CASH EQUIVALENTS ___________________________________________________________________________________14 6. INTERBANK INVESTMENTS AND CENTRAL BANK COMPULSORY DEPOSITS ___________________________________________________14 7. OPEN MARKET INVESTMENTS AND FUNDING - GOVERNMENT SECURITIES __________________________________________________15 8. FINANCIAL ASSETS _____________________________________________________________________________________________16 9. CREDIT PORTFOLIO ____________________________________________________________________________________________25 10. FINANCIAL LIABILITIES AND MANAGED ASSETS _______________________________________________________________________29 11. INSURANCE, REINSURANCE AND PRIVATE PENSION OPERATIONS _________________________________________________________33 12. OTHER FINANCIAL ASSETS AND LIABILITIES AND REVENUE, EXPENSES AND INCOME FROM OPERATIONS ___________________________38 13. OTHER ASSET, LIABILITY, AND INCOME ACCOUNTS ____________________________________________________________________40 14. CONTINGENT ASSETS AND LIABILITIES AND LEGAL OBLIGATIONS – TAX AND SOCIAL SECURITY ___________________________________41 15. TAXES ______________________________________________________________________________________________________42 16. PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS _________________________________________________________________44 17. EQUITY _____________________________________________________________________________________________________45 18. RISK AND CAPITAL MANAGEMENT _________________________________________________________________________________46 19. RELATED-PARTY TRANSACTIONS __________________________________________________________________________________57 20. OTHER INFORMATION __________________________________________________________________________________________58 INDEPENDENT AUDITOR’S REPORT ON CONSOLIDATED FINANCIAL STATEMENTS ___________________________________________________59 BANCO SAFRA S.A. AND SUBSIDIARIES ("SAFRA CONSOLIDATED") STATEMENT OF FINANCIAL POSITION - NOTE 2(a) ALL AMOUNTS IN THOUSANDS OF REAIS CONSOLIDATED CONSOLIDATED ASSETS Notes 09.30.2020 12.31.2019 LIABILITIES Notes 09.30.2020 12.31.2019 Cash 3(a) and 5 1,920,254 1,312,970 Financial liabilities 3(b-I and II) and 10 142,597,990 119,981,415 Funding 117,618,807 99,383,705 Interbank investments and Central Bank compulsory deposits 3(b) and 6 23,472,993 19,059,650 Borrowings and onlending 14,301,982 12,524,348 Subordinated debt 10,677,201 8,073,362 Financial assets 35,171,013 23,175,896 Marketable securities 3(b-I and II) and 8(a) 30,769,628 21,432,590 Derivative financial instruments 3(b-III) and 8(b) 4,401,385 1,743,306 Derivative financial instruments 3(b-III) and 8(b) 4,450,638 1,705,766 Investments linked to open market operations - Government securities 3(b-I and II) and 7(a) 22,886,672 28,472,607 Open market funding - Government securities 3(b-I and II) and 7(b) 22,774,091 28,208,651 Insurance, reinsurance and private pension operations 19,631,677 18,519,543 Insurance and private pension operations 11(c) 19,403,404 18,389,590 Funds guaranteeing technical reserves 11(a) 19,397,971 18,389,404 Technical reserves 3(g-III) 19,391,926 18,373,139 Receivables from insurance and reinsurance operations 3(g-I) and 11(b) 233,706 130,139 Payables for insurance and reinsurance operations 3(g-I) 11,478 16,451 Credit portfolio 3(c) and 9 98,818,777 90,668,515 Credit portfolio 102,221,460 93,796,391 (Allowance for credit risks) (3,402,683) (3,127,876) Other financial assets 12(a) 6,285,249 5,535,630 Other financial liabilities 12(a) 7,205,687 6,389,575 Provisions for contingent liabilities 3(h) and 14(c) 1,795,806 1,884,481 Tax assets 15(b-I) 3,947,582 2,838,218 Tax liabilities 15(b-I) 1,154,017 1,285,394 Other assets 13(a) 600,106 420,243 Other liabilities 13(b) 1,091,936 1,055,125 Investments 3(d) 5,347 5,347 Property and equipment and intangible assets 3(e) and 16 796,956 775,753 CONSOLIDATED EQUITY 17 13,063,057 11,884,375 TOTAL ASSETS 213,536,626 190,784,372 TOTAL LIABILITIES 213,536,626 190,784,372 The accompanying notes are an integral part of these financial statements. 2 BANCO SAFRA S.A. AND SUBSIDIARIES ("SAFRA CONSOLIDATED") STATEMENT OF INCOME FOR THE PERIODS ENDED SEPTEMBER 30 - NOTE 2(a) ALL AMOUNTS IN THOUSANDS OF REAIS CONSOLIDATED Notes 2020 2019 INCOME FROM FINANCIAL INTERMEDIATION 12(b-I) 9,219,230 11,065,593 Financial assets 1,990,564 3,494,333 Expanded credit portfolio operations 7,216,257 7,560,559 Other finance income 12,409 10,701 EXPENSES OF FINANCIAL INTERMEDIATION 12(b-II) (4,274,173) (6,596,231) Financial liabilities (3,274,036) (4,905,506) Open market funding - Government securities (885,783) (1,572,923) Other finance expenses 14(c) (114,354) (117,802) FINANCIAL INSTRUMENTS, NET 12(b-III) and 18(c-II(2)) (1,525,034) (157,363) FINANCE INCOME FROM INSURANCE AND PRIVATE PENSION OPERATIONS 11(e) 10,710 13,290 GROSS INCOME FROM FINANCIAL INTERMEDIATION BEFORE CREDIT RISK 3,430,733 4,325,289 RESULTS WITH CREDIT RISK 3(c) (851,465) (429,671) Expenses of allowance for credit risks 9(a-III) (1,116,593) (576,171) Income from recovery of credits written-off as loss 9(d) 265,128 146,500 NET INCOME ON FINANCIAL INTERMEDIATION 2,579,268 3,895,618 OTHER INCOME FROM OPERATIONS 1,744,710 1,534,646 Revenue from service, bank fees and foreign exchange transactions 12(b-IV) 1,529,055 1,339,198 Insurance, reinsurance and private pension operations 3(g) and 12(b-V) 215,655 195,448 TAX EXPENSES OF OPERATIONS 3(j), 15(a-II) and 18(c-II(2)) (351,106) (395,325) NET INCOME FROM OPERATIONS 18(c-II(2)) 3,972,872 5,034,939 OTHER OPERATING INCOME (EXPENSES) (3,149,093) (3,126,963) Personnel expenses 13(c) (2,203,045) (2,126,561) Administrative expenses 13(d) (837,939) (831,627) Other operating income (expenses) 14(c) (108,109) (168,775) INCOME BEFORE TAXES 823,779 1,907,976 INCOME TAX AND SOCIAL CONTRIBUTION 3(j), 15(a-I) and 18(c-II(2)) 550,742 (324,099) Current tax (419,575) (505,736) Deferred tax 970,317 181,637 NET INCOME 1,374,521 1,583,877 Basic and diluted earnings per share - Quantity of shares 15,300 (15,300 at 09.30.2019) 17(a) 89.84 103.52 STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIODS ENDED SEPTEMBER 30 ALL AMOUNTS IN THOUSANDS Notes 2020 2019 NET INCOME 1,374,521 1,583,877 Available-for-sale financial assets 17(d) 4,287 (3,049) Net change in unrealized gains / (losses) 11,816 607 Change in fair value in the period 26,030 859 Tax effect (14,214) (252) Realized gains transferred to income for the period (7,529) (3,656) Profit /(loss) on sale of securities (16,586) (5,178) Tax effect 9,057 1,522 COMPREHENSIVE INCOME 1,378,808 1,580,828 Comprehensive income - Basic and diluted earnings per share - Number of shares: 15,300 (15,300 at 09.30.2019) 17(a) 90.12 103.32 The accompanying notes are an integral part of these financial statements. 3 BANCO SAFRA S.A. AND SUBSIDIARIES ("SAFRA CONSOLIDATED") STATEMENT OF CHANGES IN EQUITY FOR THE PERIODS ENDED - NOTE 17 ALL AMOUNTS IN THOUSANDS OF REAIS Paid-up Revenue Carrying value Retained capital reserves adjustment earnings Total AT JANUARY 1, 2019 10,716,042 1,069,185 6,433 - 11,791,660 Capital increase 757,479 (757,479) - - - Carrying value adjustments - Available-for-sale securities - - (3,049) - (3,049) Net income for the period - - - 1,583,877 1,583,877 Allocation: Legal reserve - 79,194 - (79,194) - Special reserve - 937,809 - (937,809) - Interest on capital - - - (566,874) (566,874) AT SEPTEMBER 30, 2019 11,473,521 1,328,709 3,384 - 12,805,614 AT JANUARY 1, 2020 11,473,521 408,301 2,553 - 11,884,375 Carrying value adjustments - Available-for-sale securities - - 4,287 - 4,287 Net income for the period - - - 1,374,521 1,374,521 Allocation: Legal reserve - 68,726 - (68,726) - Special reserve - 1,105,669 - (1,105,669) - Interest on capital - - - (200,126) (200,126) AT SEPTEMBER 30, 2020 11,473,521 1,582,696 6,840 - 13,063,057 The accompanying notes are an integral part of these financial statements. 4 BANCO SAFRA S.A. E CONTROLADAS ("SAFRA CONSOLIDADO")
Recommended publications
  • Participant List

    Participant List

    Participant List 10/20/2019 8:45:44 AM Category First Name Last Name Position Organization Nationality CSO Jillian Abballe UN Advocacy Officer and Anglican Communion United States Head of Office Ramil Abbasov Chariman of the Managing Spektr Socio-Economic Azerbaijan Board Researches and Development Public Union Babak Abbaszadeh President and Chief Toronto Centre for Global Canada Executive Officer Leadership in Financial Supervision Amr Abdallah Director, Gulf Programs Educaiton for Employment - United States EFE HAGAR ABDELRAHM African affairs & SDGs Unit Maat for Peace, Development Egypt AN Manager and Human Rights Abukar Abdi CEO Juba Foundation Kenya Nabil Abdo MENA Senior Policy Oxfam International Lebanon Advisor Mala Abdulaziz Executive director Swift Relief Foundation Nigeria Maryati Abdullah Director/National Publish What You Pay Indonesia Coordinator Indonesia Yussuf Abdullahi Regional Team Lead Pact Kenya Abdulahi Abdulraheem Executive Director Initiative for Sound Education Nigeria Relationship & Health Muttaqa Abdulra'uf Research Fellow International Trade Union Nigeria Confederation (ITUC) Kehinde Abdulsalam Interfaith Minister Strength in Diversity Nigeria Development Centre, Nigeria Kassim Abdulsalam Zonal Coordinator/Field Strength in Diversity Nigeria Executive Development Centre, Nigeria and Farmers Advocacy and Support Initiative in Nig Shahlo Abdunabizoda Director Jahon Tajikistan Shontaye Abegaz Executive Director International Insitute for Human United States Security Subhashini Abeysinghe Research Director Verite
  • Bancos E Banquetas. Jan2021

    Bancos E Banquetas. Jan2021

    !2 © Blog Cidadania & Cultura– 2021 Fernando Nogueira da Costa COSTA, Fernando Nogueira da Bancos e Banquetas: Evolução do Sistema Bancário Campinas, SP: Blog Cultura & Cidadania, 2021. 531p. 1. Perfis dos Velhos e Novos Banqueiros. 2. Inovações Tecnológicas e Financeiras. 3. Evolução Sistêmica. I. Título. 330 C837a ! !3 Sumário Prefácio ...................................................................................6 Introdução - Preâmbulo Histórico .................................................20 Anos 60: Regulamentação, Compartimentação, Especialização e Segmentação Bancária .......................................................................................21 Anos 70: Concentração, Conglomeração e Internacionalização ....................24 Anos 80: Ajuste das Empresas Não-Financeiras, Desajuste e Reajuste das Empresas Financeiras .......................................................................30 Anos 90: Principais Estratégias de Ajustamento à Liberalização Financeira ....37 Anos 2000: Reestruturação Patrimonial, Bancarização e Acesso Popular a Crédito .........................................................................................47 Capítulo 1 - Banqueiros e Políticos ...............................................57 Delfim Netto, Protagonista do Desenvolvimentismo de Direita ....................57 Fracionamento do Bloco de Poder da Ditadura Militar .........................................65 PMDB, Protagonista do Fisiologismo .....................................................69 Fernando Henrique Cardoso,
  • Agribusiness

    Agribusiness

    AGRIBUSINESS ANNUAL REPORT 2015 “If you choose to sail upon the seas of banking, build your bank as you would your boat, with the strength to sail safely through any storm.” Jacob Safra, founder (1891-1963) Safra Group Key Financial Indicators (in millions of Reais) BRAZIL Net Income Equity 8,915 1,654 8,734 1,547 Banco Safra S.A. 7,559 1,359 7,247 1,254 1,281 6,016 5,614 Banco J. Safra S.A. 1,048 Accum. until Accum. until Accum. until Accum. until Accum. until Accum. until Dec/10 Dec/11 Dec/12 Dec/13 Dec/14 Dec/15 Safra Leasing S.A. Arrendamento Mercantil Dec/10 Dec/11 Dec/12 Dec/13 Dec/14 Dec/15 J. Safra Asset Management Ltda. Total Funds Total Assets (Free, raised and managed assets) 193,160 J. Safra Corretora de Valores e Câmbio Ltda. 151,756 174,648 142,898 131,647 154,901 111,452 Safra Seguros Gerais S.A. 141,396 85,657 125,709 73,313 100,683 Safra Vida e Previdência S.A. Dec/10 Dec/11 Dec/12 Dec/13 Dec/14 Dec/15 Dec/10 Dec/11 Dec/12 Dec/13 Dec/14 Dec/15 Banco Safra (Cayman Islands) Limited Return on Average Equity Banco Safra S.A., Luxembourg Branch 21.6% 20.3% 19.6% Banco Safra S.A., Cayman Islands Branch 18.8% 19.0% 18.5% 2010 2011 2012 2013 2014 2015 2 | Safra Group 2015, Annual Report Safra Group 2015, Annual Report | 3 J. Safra Group Worldwide United Luxembourg Kingdom Germany Ireland Poland United States Guernsey of America France Austria Monaco Switzerland Gibraltar United Arab Mexico Qatar Emirates The Bahamas Hong Kong Cayman Islands Rep.
  • Joseph Safra La Semaine Le Plus Riche Banquier Du Monde

    Joseph Safra La Semaine Le Plus Riche Banquier Du Monde

    «Ces tycoons qui contribuent au succès des pays émergents» Le portrait de Joseph Safra la semaine Le plus riche banquier du monde À 78 ans, ce mécène serait la 2ème fortune du Brésil avec 21 Md$ et occupe la 37ème place dans le classement Forbes des personnalités les plus riches du monde (mars 2017). Safra Group, Joseph Safra est né à Alep, en Syrie, d’une famille de banquiers juive libanaise. Sa famille a fait fortune sous l’Empire Ottoman il y a plus d’un siècle, en facilitant le Quelques chiffres commerce entre Beirut, Alep, Alexandrie et Istanbul. • Joseph grandit à Beyrouth jusqu’en 1952, puis émigre au Brésil avec sa famille. • C’est en 1955 que son père Jacob fonde Banco Safra à São Paulo et commence ses • 3 filiales indépendantes : premières opérations brésiliennes. • -Banco Safra SA au Brésil • -J Safra National à New York Une année plus tard seulement, l’ainé de la fratrie Safra, Edmond, part pour Genève • -J Safra Sarasin à Genêve où il fonde la Banque du commerce et du développement qui devient bientôt la principale source de richesse de l’empire Safra. Elle possède déjà 5 milliards de • Revenu net en 2015 : +6,9% soit 500 mio $ dollars en actifs au milieu des années 1980. Edmond Safra se dirige vers les Etats- • Safra National gère 14,2 Unis où il crée une autre institution toute aussi réussie, la Republic National Bank de • Md$ d’actifs finSão 2015 Paulo New York qu’il vendra en 1999 à HSBC. Siège social à S’en suit une série de frasques concernant sa vie privée et celle de son épouse Lily (elle fut soupconnée d’avoir assassiné son mari à Monaco en 1999) qui incita Joseph Safra à sortir de l’ombre pour finalement reprendre en main l’ensemble de l’empire Safra au décès de son frère.
  • Brazil: the Reform Challenge

    Brazil: the Reform Challenge

    ANNUAL REPORT BRAZIL: THE REFORM CHALLENGE “If you choose to sail upon the seas of banking, build your bank as you would your boat, with the strength to sail safely through any storm.” Jacob Safra, founder (1891-1963) J. Safra Group Key financial indicators (BRL million) BRAZIL Total assets Equity 9,769 Banco Safra S.A. 9,508 8,915 160,460 8,734 151,756 154,788 Banco J. Safra S.A. 142,898 7,559 131,647 Safra Leasing S.A. Arrendamento Mercantil Dec/13 Dec/14 Dec/15 Dec/16 Dec/17 Dec/13 Dec/14 Dec/15 Dec/16 Dec/17 J. Safra Asset Management Ltda. Net income Raised and managed assets (1) J. Safra Corretora de Valores e Câmbio Ltda. 216,398 J. Safra Serviços de Administração Fiduciária Ltda. 198,883 1,915 184,620 1,698 165,867 1,547 1,654 146,596 Safra Seguros Gerais S.A. 1,359 Safra Vida e Previdência S.A. Accum. until Accum. until Accum. until Accum. until Accum. until Dec/13 Dec/14 Dec/15 Dec/16 Dec/17 Dec/13 Dec/14 Dec/15 Dec/16 Dec/17 SIP Corretora de Seguros Ltda. Expanded credit portfolio (2) Non performing loans - NPL90 Sercom Comércio e Serviços Ltda. 87,461 1.5% Banco Safra (Cayman Islands) Limited 77,547 76,474 75,560 1.3% 67,639 Banco Safra S.A., Luxembourg Branch 0.7% 0.7% 0.4% Banco Safra S.A., Cayman Islands Branch Dec/13 Dec/14 Dec/15 Dec/16 Dec/17 Dec/13 Dec/14 Dec/15 Dec/16 Dec/17 (1) Represented by client funds, managed funds, repos, foreign exchange portfolio, collection of taxes and similar.
  • Banco Safra S.A

    Banco Safra S.A

    Consolidated Financial Statements | Banco Safra S.A. Consolidated Financial Statements for the period ended June 30, 2021 Banco Safra S.A. CNPJ 58.160.789/0001-28 Avenida Paulista, 2.100 - Bela Vista, São Paulo, SP José Manuel da Costa Gomes Accountant – CRC nº 1SP219892/O-0 Independent Auditors’ Report Deloitte Touche Tohmatsu Auditores Independente A free translation of the original report in Portuguese as published in Brazil 1 Consolidated Financial Statements | Banco Safra S.A. CONTENTS CONSOLIDATED FINANCIAL STATEMENTS MANAGEMENT REPORT STATEMENT OF FINANCIAL POSITION __________________________________________________________ 2 STATEMENT OF INCOME _____________________________________________________________________ 3 STATEMENT OF COMPREHENSIVE INCOME _______________________________________________________ 4 STATEMENT OF CHANGES IN EQUITY ____________________________________________________________ 5 STATEMENT OF CASH FLOWS __________________________________________________________________ 6 NOTES TO THE FINANCIAL STATEMENTS 1. OPERATIONS _________________________________________________________________________________ 7 2. PRESENTATION OF THE FINANCIAL STATEMENTS ____________________________________________________ 7 3. SIGNIFICANT ACCOUNTING POLICIES _____________________________________________________________ 9 4. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS _______________________________________________ 14 5. CASH AND CASH EQUIVALENTS _________________________________________________________________ 14 6. INTERBANK INVESTMENTS
  • Banco Safra S.A

    Banco Safra S.A

    Banco Safra S.A. Consolidated Financial Statements Period ended June 30, 2020 Independent Auditors’ Report Deloitte Touche Tohmatsu Auditores Independentes (A free translation of the original report in Portuguese as published in Brazil) José Manuel da Costa Gomes Accountant – CRC nº 1SP219892/O-0 CONTENTS PAGE CONSOLIDATED FINANCIAL STATEMENTS MANAGEMENT REPORT STATEMENT OF FINANCIAL POSITION ________________________________________________________________ _____________ 2 STATEMENT OF INCOME AND COMPREHENSIVE INCOME____________________________________________ ________________ ___3 STATEMENT OF CHANGES IN EQUITY__ _____________________________________________________________________________ 4 STATEMENT OF CASH FLOWS _______________ _____________________________________________________________________5 NOTES TO THE FINANCIAL STATEMENTS 1. OPERATIONS _________________________________________________________________________________________________ 6 2. PRESENTATION OF THE FINANCIAL STATEMENTS _____________________________________________________________________ 6 3. SIGNIFICANT ACCOUNTING POLICIES______________________________________________________________________________ 7 4. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS ________________________________________________________________ 12 5. CASH AND CASH EQUIVALENTS __________________________________________________________________________________ 13 6. INTERBANK INVESTMENTS AND CENTRAL BANK COMPULSORY DEPOSITS ________________________________________________ 13 7. OPEN MARKET INVESTMENTS
  • Profile of the Mizuho Financial Group (2015) (PDF/6578KB)

    Profile of the Mizuho Financial Group (2015) (PDF/6578KB)

    Profile of the Mizuho Financial Group Contact Information Mizuho Financial Group Mizuho Bank Mizuho Trust & Banking Mizuho Securities 1-5-5, Otemachi, Chiyoda-ku, 1-5-5, Otemachi, Chiyoda-ku, 1-2-1, Yaesu, Chuo-ku, Otemachi First Square, 1-5-1, Otemachi, Tokyo 100-8176, Japan Tokyo 100-8176, Japan Tokyo 103-8670, Japan Chiyoda-ku, Tokyo 100-0004, Japan Tel. +81-(0)3-5224-1111 Tel. +81-(0)3-3214-1111 Tel. +81-(0)3-3278-8111 Tel. +81-(0)3-5208-3210 Printed in Japan in September 2015 Message from the Group CEO Message from the Group CEO 1 As President and Group CEO of the Mizuho Finan- “Company with Three Committees,” as well as Principal Subsidiaries 3 cial Group, I would like to express our deep appre- with other measures for building an advanced cor- Business Overview ciation for your continued interest in and support porate governance structure. At the same time, we East Asia 4 of our Group. moved forward with the implementation of our integrated strategy between “banking, trust bank- Asia and Oceania 12 Medium-term Business Plan “One MIZUHO ing, and securities functions,” which is designed to Contents The Americas 20 New Frontier Plan—Stepping up to the Next ensure that we can fully leverage Mizuho's group Challenge—” comprehensive capabilities to meet all kinds of cus- Europe, Middle East and Africa 28 During fiscal 2014—the second year of our three- tomer needs. Japan 36 year medium-term business plan, the “One Principal Operating Companies 45 MIZUHO New Frontier Plan—Stepping Up to the Financial Results for Fiscal 2014 Next Challenge—“
  • Foreign Trade Annual Report 2016

    Foreign Trade Annual Report 2016

    Annual Report 2016 Annual Report Foreign Trade 2016 “If you choose to sail upon the seas of banking, build your bank as you would your boat, with the strength to sail safely through any storm.” Jacob Safra, founder (1891-1963) Safra Group BRAZIL Banco Safra S.A. Banco J. Safra S.A. Safra Leasing S.A. Arrendamento Mercantil J. Safra Asset Management Ltda. J. Safra Corretora de Valores e Câmbio Ltda. J. Safra Serviços de Administração Fiduciária Ltda. Safra Seguros Gerais S.A. Safra Vida e Previdência S.A. SIP Corretora de Seguros Ltda. Banco Safra (Cayman Islands) Limited Banco Safra S.A., Luxembourg Branch Banco Safra S.A., Cayman Islands Branch 2 | Safra Group 2016, Annual Report Key Financial Indicators (in millions of Reais) Total Assets Equity 9,508 151,756 154,788 142,898 8,734 8,915 131,647 7,559 111,452 7,247 Dec/12 Dec/13 Dec/14 Dec/15 Dec/16 Dec/12 Dec/13 Dec/14 Dec/15 Dec/16 Net Income Total funds (free, raised and managed assets) 208,091 1,547 1,654 1,698 193,160 1,359 1,281 174,648 154,901 141,396 Accum. until Accum. until Accum. until Accum. until Accum. until Dec/12 Dec/13 Dec/14 Dec/15 Dec/16 Dec/12 Dec/13 Dec/14 Dec/15 Dec/16 Expanded Credit Portfolio (*) Delinquency ratio (over 90 days) 76,474 75,560 77,235 67,639 1.6% 1.3% 1.5% 58,123 0.7% 0.7% Dec/12 Dec/13 Dec/14 Dec/15 Dec/16 Dec/12 Dec/13 Dec/14 Dec/15 Dec/16 (*) Include Garantees and sureties and other credit risk instruments.
  • FOR LISTING PURPOSES ONLY U.S.$100,000,000 Banco ABC

    FOR LISTING PURPOSES ONLY U.S.$100,000,000 Banco ABC

    FOR LISTING PURPOSES ONLY U.S.$100,000,000 Banco ABC Brasil S.A. (incorporated as a corporation (sociedade por ações) under the laws of the Federative Republic of Brazil) 7.875% Subordinated Notes due 2020 We are issuing U.S.$100,000,000 aggregate principal amount of 7.875% Subordinated Notes due 2020 (the “New Notes”). The New Notes will be additional notes issued under the indenture dated as of April 8, 2010 between us, The Bank of New York Mellon, as Trustee, registrar, paying agent and transfer agent and The Bank of New York Mellon Trust (Japan) Ltd., as Principal Paying Agent (the “Original Indenture”) governing the U.S.$300,000,000 7.875% Subordinated Notes due 2020 (the “Existing Notes” and, together with the New Notes, the “Notes”) as supplemented by a supplemental indenture to be dated October 9, 2012 (the “Supplemental Indenture” and together with the Original Indenture, the “Indenture”). The New Notes will have identical terms and conditions as the Existing Notes, other than the issue date and issue price, and will be consolidated and form a single series with, and vote together as a single class with, the Existing Notes. The New Notes and the Existing Notes will share the same ISIN and CUSIP numbers and be fungible, except that the New Notes offered and sold in compliance with Regulation S shall be issued and maintained under temporary ISIN and CUSIP numbers during a 40 day distribution compliance period commencing on the date of issuance of the New Notes. The Notes will mature on April 8, 2020.
  • SAFRA Equity Research Earnings Preview

    SAFRA Equity Research Earnings Preview

    SAFRA Equity Research Earnings Preview Earnings Preview (2Q21) Financials Mixed Feelings to its Earnings Season July 21, 2021 Overall we expect Good results for the Brazilian banks, as we may see strong earnings ITUB4 expansions to all Banks in our coverage due to the comp basis related to Covid (strong Rating: Outperform YE21 TP: R$ 38.0 increase in Loan Loss Provisions in 2020), but also good loan volumes performance and BBDC4 control of expenses. Moreover, names highly exposed to the capital markets (such as BTG Rating: Outperform * YE21 TP: R$ 32.0 * Adjusted Target-Price (ex-bonus shares) Pactual) should also report very strong numbers… once again. In the insurance segment, while BBSE should post weak numbers mainly due to Brasilprev (weaker financial result) SANB11 Rating: Outperform YE21 TP: R$ 53.0 and Brasilseg’s increase in its loss ratio, we may see good numbers for Porto Seguro, BBAS3 whose operational performance still benefits from low loss ratio levels. Rating: Outperform YE21 TP: R$ 50.0 Itaú Unibanco is expected to deliver good results, mainly on low allowance for loan BRSR6 Rating: Neutral YE21 TP: R$ 19.0 losses. The bank should keep on track to deliver its guidance for 2021. We expect for 2Q21, net profit of R$6.6bln, up 3.0%QoQ representing a ROAE of 18.9%. BPAC11 Rating: Outperform YE21 TP: R$ 35.5 Bradesco should keep with good results. In the QoQ basis, we may see a good earnings BPAN4 expansion (+4.1% QoQ, to R$6.7bln, resulting in a ROAE of 17.9%), reflecting the Rating: Outperform YE21 TP: R$ 28.0 combination of a good top line growth (NII exclusively), lowering ALL increase QoQ and CIEL3 Rating: Neutral YE21 TP: R$ 5.0 efficiency gains.
  • Annual Report 2020 Group Chairman’S Foreword & Report of the Board of Directors

    Annual Report 2020 Group Chairman’S Foreword & Report of the Board of Directors

    2020 “Every bank is like a child – you have to nurture it so it is able to grow and thrive.” Joseph Safra (1938 – 2020) Joseph Safra Joseph Safra Born on September 1, 1938 in Beirut, Lebanon, Joseph Safra built a transcontinental banking empire and was one of the most pre-eminent bankers and financiers of modern times. Far beyond being a successful banker, he was much loved and respected as a husband, a father, and a caring grandfather. His family, his business, his friends and the people who benefitted from his philanthropy around the world, have lost a great leader and one of their main pillars of strength. The figure of Joseph Safra has become almost mythical in the world of finance and the media. Since he rarely gave interviews, in reality little is known about his private life and his family. He placed a high value on discretion and privacy. Nonetheless, all the people who had contact with him, for whatever reason, have a story to tell about his perception, privileged mind, generosity, simplicity, humour and his enormous attachment to his traditions. Tens of thousands of people have bene fitted from him – directly or indirectly. Joseph was always ready to help friends, many dating back to his childhood and youth, being there for both their celebrations and in difficult moments. Joseph was an elegant man, with an open smile, who liked to wear impeccable blue suits. He was a cosmopolitan man, a citizen of the world – he respected all religions and all peoples. A polyglot – he spoke seven languages, Arabic, English, French, Hebrew, Italian, Portuguese and Spanish.