DOCSLIB.ORG

Ing Notas Explicativas Consolidado 03 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Ing Notas Explicativas Consolidado 03 2020 Banco Safra S.A. Consolidated Financial Statements Period Ended March 31, 2020 Independent Auditors’ Report Deloitte Touche Tohmatsu Auditores Independentes José Manuel da Costa Gomes Accountant – CRC nº 1SP219892/O-0 CONTENTS PAGE CONSOLIDATED FINANCIAL STATEMENTS 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. CASH AND CASH EQUIVALENTS ____________________________________________________________________________________ 13 5. INTERBANK INVESTMENTS AND CENTRAL BANK COMPULSORY DEPOSITS __________________________________________________ 13 6. OPEN MARKET INVESTMENTS AND FUNDING – GOVERNMENT SECURITIES __________________________________________________ 13 7. FINANCIAL ASSETS _____________________________________________________________________________________________ 15 8. CREDIT PORTFOLIO _____________________________________________________________________________________________ 24 9. FINANCIAL LIABILITIES AND MANAGED ASSETS _______________________________________________________________________ 28 10. INSURANCE, REINSURANCE AND PRIVATE PENSION OPERATIONS ________________________________________________________ 32 11. OTHER FINANCIAL ASSETS AND LIABILITIES _________________________________________________________________________ 37 12. REVENUE, EXPENSES AND INCOME FROM OPERATIONS _________________________________________________________________ 38 13. OTHER ASSET, LIABILITY, AND INCOME ACCOUNTS ____________________________________________________________________ 39 14. CONTINGENT ASSETS AND LIABILITIES AND LEGAL OBLIGATIONS – TAX AND SOCIAL SECURITY ________________________________ 40 15. TAXES ________________________________________________________________________________________________________ 41 16. PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS _________________________________________________________________ 43 17. EQUITY _______________________________________________________________________________________________________ 44 18. RISK AND CAPITAL MANAGEMENT __________________________________________________________________________________ 45 19. RELATED-PARTY TRANSACTIONS ___________________________________________________________________________________ 56 20. OTHER INFORMATION ___________________________________________________________________________________________ 56 INDEPENDENT AUDITOR’S REPORT ON CONSOLIDATED FINANCIAL STATEMENTS _________________________________________________ 58 (A free translation into English from the original in Portuguese) 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 03.31.2020 12.31.2019 LIABILITIES Notes 03.31.2020 12.31.2019 Cash 3(a) and 4 2,542,204 1,312,970 Financial liabilities 3(b-I and II) and 9(a) 126,967,717 119,981,415 Funding 99,447,068 99,383,705 Interbank investments and Central Bank compulsory deposits 3(b), 4 and 5 19,948,607 19,059,650 Borrowings and onlending 17,391,455 12,524,348 Subordinated debt 10,129,194 8,073,362 Financial assets 28,117,509 23,175,896 Marketable securities 3(b-I and II) and 7(a) 24,058,462 21,432,590 Derivative financial instruments 3(b-III) and 7(b) 4,059,047 1,743,306 Derivative financial instruments 3(b-III) and 7(b) 4,087,015 1,705,766 Investments linked to open market operations - Government securities 3(b-I and II) and 6(a) 31,085,909 28,472,607 Open market funding - Government securities 3(b-I and II) and 6(b) 30,111,808 28,208,651 Insurance, reinsurance and private pension operations 18,219,316 18,519,543 Insurance and private pension operations 18,088,962 18,389,590 Funds guaranteeing technical reserves for insurance and private pension 10(a) 18,082,361 18,389,691 Technical reserves 3(g-III) and 10(c) 18,075,476 18,373,139 Payables for insurance and reinsurance operations, Receivables from insurance and reinsurance operations 3(g-I) and 10(b) 136,955 129,852 commissions and other 3(g-I) and 10(c) 13,486 16,451 Credit portfolio 3(c) e 8 90,735,820 90,668,515 Other financial liabilities 11 6,836,102 6,389,575 Credit portfolio 93,864,180 93,796,391 (Allowance for credit risks) (3,128,360) (3,127,876) Provisions for contingent liabilities 3(h) and 14(c) 1,875,864 1,884,481 Other financial assets 11 6,325,513 5,535,630 Tax liabilities 15(b-I) 959,287 1,285,394 Tax assets 15(b-I) 3,835,164 2,838,218 Other liabilities 13(b) 849,926 1,055,125 Other assets 13(a) 433,841 420,243 Investments 3(d) 5,347 5,347 Property and equipment and intangible assets 3(e) and 16 791,397 775,753 CONSOLIDATED EQUITY 17 12,263,946 11,884,375 TOTAL ASSETS 202,040,627 190,784,372 TOTAL LIABILITIES 202,040,627 190,784,372 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 MARCH 31 - NOTE 2(a) ALL AMOUNTS IN THOUSANDS OF REAIS UNLESS OTHERWISE STATED CONSOLIDATED Notes 2020 2019 INCOME FROM FINANCIAL INTERMEDIATION 12(a) 3,329,673 3,625,429 Financial assets 780,265 1,167,691 Expanded credit portfolio operations 2,544,460 2,446,316 Other finance income 4,948 11,422 EXPENSES OF FINANCIAL INTERMEDIATION 12(b) (1,710,440) (2,167,671) Financial liabilities (1,287,016) (1,547,232) Open market funding - Government securities (384,949) (582,196) Other finance expenses 14(c) and 15(b-I) (38,475) (38,243) FINANCIAL INSTRUMENTS, NET 12(c) and 18(c-II(2)) (1,029,444) (53,214) FINANCE INCOME FROM INSURANCE AND PRIVATE PENSION OPERATIONS 10(e) 3,941 4,074 Finance income from insurance and private pension operations (721,261) 288,753 Finance expenses from insurance and private pension operations 725,202 (284,679) GROSS INCOME ON FINANCIAL INTERMEDIATION BEFORE ALLOWANCE FOR LOAN LOSSES 593,730 1,408,618 ALLOWANCE FOR LOAN LOSSES (237,385) (147,202) Expenses of allowance for credit risks 3(c) e 8(a-III) (285,230) (207,090) Income from recovery of credits written-off as loss 3(c) and 8(d) 47,845 59,888 NET INCOME ON FINANCIAL INTERMEDIATION 356,345 1,261,416 OTHER INCOME FROM OPERATIONS 611,942 469,914 Revenue from service, bank fees and foreign exchange transactions 12(d) 531,739 405,760 Insurance, reinsurance and private pension operations 3(g) e 10(e) 80,203 64,154 TAX EXPENSES OF OPERATIONS 3(j), 15(a-II) e 18(c-II(2)) (90,843) (123,714) NET INCOME FROM OPERATIONS 18(c-II(2)) 877,444 1,607,616 OTHER OPERATING INCOME (EXPENSES) (1,128,963) (962,336) Personnel expenses 13(c) (772,531) (666,387) Administrative expenses 13(d) (322,803) (231,108) Other operating income (expenses) 14(c) (33,629) (64,841) INCOME BEFORE TAXES (251,519) 645,280 INCOME TAX AND SOCIAL CONTRIBUTION 3(j), 15(a-I) e 18(c-II(2)) 748,772 (101,231) Current tax (145,368) (278,619) Deferred tax 894,140 177,388 NET INCOME 497,253 544,049 Earnings per share - Quantity of shares 15,300 (15,301 at 03.31.2019) 32.50 35.56 STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIODS ENDED MARCH 31 ALL AMOUNTS IN THOUSANDS Notes 2020 2019 NET INCOME 497,253 544,049 Available-for-sale financial assets 17(d) (16,877) (656) Net change in unrealized gains / (losses) (14,509) 3,985 Change in fair value in the period (27,020) 2,102 Tax effect 12,511 1,883 Realized gains transferred to income for the period (2,368) (4,641) Profit /(loss) on sale of securities (4,410) (2,448) Tax effect 2,042 (2,193) COMPREHENSIVE INCOME 480,376 543,393 Comprehensive income - Basic and diluted earnings per share - Number of shares: 15,300 (15,301 at 03.31.2019) 31.40 35.51 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 - - (656) - (656) Net income for the period - - - 544,049 544,049 Allocation: Legal reserve - 27,202 - (27,202) - Special reserve - 309,717 - (309,717) - Interest on capital - - - (207,130) (207,130) - AT MARCH 31, 2019 11,473,521 648,625 5,777 - 12,127,923 AT JANUARY 1, 2020 11,473,521 408,301 2,553 - 11,884,375 Carrying value adjustments - Available-for-sale securities - - (16,877) - (16,877) Net income for the period - - - 497,253 497,253 Allocation: Legal reserve - 24,863 - (24,863) - Special reserve - 371,585 - (371,585) - Interest on capital - - - (100,805) (100,805) AT MARCH 31, 2020 11,473,521 804,749 (14,324) - 12,263,946 The accompanying notes are an integral part of these financial statements. 4 BANCO SAFRA S.A. E CONTROLADAS ("SAFRA CONSOLIDADO") STATEMENT OF CASH FLOWS FOR THE PERIODS
Load more

Recommended publications
  • Banco Safra S.A
    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
    [Show full text]
  • 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
    [Show full text]
  • 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,
    [Show full text]
  • 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.
    [Show full text]
  • 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.
    [Show full text]
  • 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.
    [Show full text]
  • 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
    [Show full text]
  • 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
    [Show full text]
  • 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—“
    [Show full text]
  • 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.
    [Show full text]
  • 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.$300,000,000 7.875% Subordinated Notes due 2020 (the “Existing Notes” and, together with the New Notes, the “Notes”) as supplemented by a supplemental indenture to be dated October 9, 2012 (the “Supplemental Indenture” and together with the Original Indenture, the “Indenture”). The New Notes will have identical terms and conditions as the Existing Notes, other than the issue date and issue price, and will be consolidated and form a single series with, and vote together as a single class with, the Existing Notes. The New Notes and the Existing Notes will share the same ISIN and CUSIP numbers and be fungible, except that the New Notes offered and sold in compliance with Regulation S shall be issued and maintained under temporary ISIN and CUSIP numbers during a 40 day distribution compliance period commencing on the date of issuance of the New Notes. The Notes will mature on April 8, 2020.
    [Show full text]
  • SAFRA Equity Research Earnings Preview
    SAFRA Equity Research Earnings Preview Earnings Preview (2Q21) Financials Mixed Feelings to its Earnings Season July 21, 2021 Overall we expect Good results for the Brazilian banks, as we may see strong earnings ITUB4 expansions to all Banks in our coverage due to the comp basis related to Covid (strong Rating: Outperform YE21 TP: R$ 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.
    [Show full text]