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Largest Bank in Brazil in Total Assets. R$ 116.0 bi. Leadership in ... bank that invests the most in Brazil. Market Funding - R$ billion. Asset Composition ...

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Highlights

R$ 231.1 bi

Largest Bank in Brazil in Total Assets

R$ 116.0 bi

Leadership in Assets Under Management

R$ 79.6 bi

Leadership in loan Portfolio

R$ 150.6 bi

Leadership in Total Funding

19.3 million

Customer Base

6.2 million

Customers in BB’s Internet

37,018

Largest ATM Network in Latin America

13,413

Largest network service in the country

2


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efficiency reflected in numbers

R$ million

Change %

1Q03

4Q03

1Q04

/1Q03

/4Q03

Total Assets

209,240

230,144

231,107

10.5

0.4

Credit Portfolio ¹

65,715

77,636

79,647

21.2

2.6

Securities Portfolio

75,631

69,590

67,875

(10.3)

(2.5)

Deposits ²

98,130

110,014

110,219

12.3

0.2

Asset Management - R$ bi

78.0

102.6

116.0

48.7

13.0

Shareholders’ Equity

10,164

12,172

12,686

24.8

4.2

Market Capitalization

7,485

17,568

17,041

127.7

(3.0)

Net Income

479

637

616

28.5

(3.4)

ROE % ³

21.3

23.1

21.3

1- Credit Portfolio, Leasing operations and others credits, according Res. 2682/99

2 - Demand, Time, Savings and Interbank

3 - Net Income included


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result building up

Spread Reduction

Increase of Allowance for Loan Losses

Credit Delinquency under Control

Growth of the Retail Credit Portfolio

Increase in Service Fees

Administrative Expenses Control


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solid results

Income Statement

with reallocations

Quarterly Flow

Change %

1Q03

4Q03

1Q04

/ 1Q03

/ 4Q03

R$ million

Gross Financial Margin

3,917

3,977

3,829

(2.2)

(3.7)

Provision for NPL

(636)

(827)

(901)

41.6

9.0

Net Financial Margin

3,281

3,150

2,928

(10.7)

(7.0)

Service Fees

1,218

1,511

1,553

27.5

2.8

Turnover Tax Expenses

(232)

(289)

(284)

22.5

(1.7)

Contribution Margin

4,267

4,372

4,197

(1.6)

(4.0)

Administrative Expenses

(2,709)

(3,149)

(2,735)

0.9

(13.1)

Commercial Income

1,558

1,223

1,462

(6.1)

19.5

Operating Income

1,244

1,335

1,227

(1.4)

(8.1)

Income before Profit Sh.Taxes Ext. Items

1,295

1,374

1,242

(4.1)

(9.6)

Income Tax and Social Contribution

(687)

(453)

(370)

(46.0)

(18.2)

Profit sharing

(20)

(155)

(41)

108.7

(73.6)

Recurrent Result

589

765

831

41.1

8.5

Extraordinary items

(110)

(128)

(215)

96.0

68.0

Net Income

479

637

616

28.5

(3.4)


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ready to a new environment

Analysis of volume and spread

Change %

1Q03

4Q03

1Q04

/1Q03

/4Q03

R$ million

Gross Financial Margin

3,917

3,977

3,829

(2.2)

(3.7)

Asset (-) Permanent *

204,076

221,377

228,946

12.2

3.4

Annualized Spread

7.9

7.4

6.9

* Average balance

Loss due to decrease in spread combined with volume increase

Loss due to spread decrease

Spread

- %

1Q03 - 1.919356

Gain due to volume increase

(416)

(149)

1Q04 - 1.672528

3,917

477

Volume - R$ million

1Q04 - 228,946

1Q03 - 204,076


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deliquency under control

Quarterly Flow

Change %

1Q03

4Q03

1Q04

/ 1Q03

/ 4Q03

R$ million

Gross Financial Margin

3,917

3,977

3,829

(2.2)

(3.7)

Provision for NPL

(636)

(827)

(901)

41.6

9.0

Net Financial Margin

3,281

3,150

2,928

(10.7)

(7.0)

5.0

4.8

4.7

5.6

4.6

5.3

4.4

5.2

5.0

4.7

5.5

2.5

5.1

5.1

2.1

2.0

1.8

1.8

4.8

4.6

1.3

1.1

1.1

1.1

1.0

3.2

3.2

3.2

3.1

3.0

1Q03

2Q03

3Q03

4Q03

1Q04

1Q03

2Q03

3Q03

4Q03

1Q04

Loss / Portfolio - % ¹

Expenses Prov. / Port. - % ²

Overdue Loans / Total Credit Portfolio - %

Expenses Prov. / Port. - % ³

Overdue more than 15 days / Total Credit Portfolio - %

¹ Loss and average portfolio of the Last 12 months

² Loss and average portfolio of the quarter

³ Loss and average portfolio of the Last 12 months

Overdue more than 60 days / Total Credit Portfolio - %


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margin growth guaranteed by business diversification

Quarterly Flow

Change %

1Q03

4T03

1Q04

/ 1Q03

/ 4Q03

R$ million

Gross Financial Margin

3,917

3,977

3,829

(2.2)

(3.7)

Provision for NPL

(636)

(827)

(901)

41.6

9.0

Net Financial Margin

3,281

3,150

2,928

(10.7)

(7.0)

Service Fees

1,218

1,511

1,553

27.5

2.8

Turnover Tax Expenses

(232)

(289)

(284)

22.5

(1.7)

Contribution Margin

4,267

4,372

4,197

(1.6)

(4.0)

Quarterly Flow

Change %

1Q03

4Q03

1Q04

/ 1Q03

/ 4Q03

R$ million

Service revenues

1,218

1,511

1,553

27.5

2.8

Customer Relationship Fees

387

451

481

24.4

6.8

Asset Management fees

167

220

234

40.1

6.2

Credit Operations

111

148

147

32.1

(1.2)

Collection

107

143

150

40.1

4.3

Services to Related Companies

22

27

39

77.3

45.6

Third Party Revenue and Payments

87

106

106

21.6

(0.5)

Credit Cards

107

130

129

20.5

(1.4)

(5.8)

Others

231

285

268

16.1


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customers’ loyalty and asset management leadership

Customer Base - in millions

338

326

321

309

300

19.3

18.7

17.0

16.7

15.9

1Q03

2Q03

3Q03

4Q03

1Q04

Asset Management - R$ billion

20.2

19.0

18.8

18.6

18.7

Service Fees + GFM / Customer - R$ ¹

116.0

102.9

¹ Costumer base average of the last 4 quarters

91.8

83.2

78.0

1Q03

2Q03

3Q03

4Q03

1Q04

Market Share - %


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cost structure suitable with business generation

Quarterly Flow

Change %

1Q03

4Q03

1Q04

/ 1Q03

/ 4Q03

R$ million

Contribution Margin

4,267

4,372

4,197

(1.6)

(4.0)

Administrative Expenses

(2,709)

(3,149)

(2,735)

0.9

(13.1)

Commercial Income

1,558

1,223

1,462

(6.1)

19.5

Quarterly Flow

Change %

1Q03

4Q03

1Q04

/ 1Q03

/ 4Q03

R$ million

Administrative Expenses

(2,709)

(3,149)

(2,735)

0.9

(13.1)

Other Administrative Expenses

(1,170)

(1,165)

(1,126)

(3.8)

(3.3)

Employees Expenses

(1,509)

(1,949)

(1,574)

4.3

(19.2)

Salaries

(639)

(894)

(721)

12.9

(19.3)

Benefits

(158)

(196)

(182)

15.5

(6.9)

Social Charges

(239)

(342)

(269)

12.6

(21.3)

Training

(5)

(17)

(6)

24.0

(65.0)

Honorary of Directors and councilmen

(2)

(2)

(1)

(7.9)

(12.5)

Provision for Employees Expensives

(234)

(107)

(273)

16.6

154.6

Provisions for Labor Suits

(191)

(309)

(60)

(68.7)

(80.6)

Labor Suits

(41)

(82)

(61)

48.8

(25.3)


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cost structure suitable with business generation

Points of Service - in thousands

5.0

5.0

4.7

4.4

4.3

13.4

13.2

12.9

12.8

12.5

Human Resources - in thousands

1Q03

2Q03

3Q03

4Q03

1Q04

2.8

2.6

2.4

2.3

2.2

Points of Service

Credit operations / Points of Service - R$ million

10.8

10.2

10..5

10.6

10.8

79.7

80.6

81.8

79.5

79.5

3Q03

1Q03

2Q03

4Q03

1Q04

Deposits + Assets under Manag/ Employee - R$ million

Employees

Interns


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productivity equation completed by technology

Automatization

1Q03 - %

1Q04 - %

2.0

2.6

13.7

15.4

50.6

86.4

86.3

4.7

4.1

85.2

85.0

84.6

84.1

82.5

82.4

53.7

81.4

14.3

16.2

Electronic Transactions / Total Transactions - %

10.5

12.2

1Q03

2Q03

3Q03

4Q03

1Q04

1Q02

2Q02

3Q02

4Q02

Internet

Financial Manager

POS

Cashier

Others

ATM

Efficiency Ratio - %

Coverage Ratio - %

Administrative Expenses / Operational Income

Service Income / Personnel Expenses

98.6

57.6

90.7

56.5

56.7

84.0

54.2

54.0

80.7

77.5

1Q03

2Q03

3Q03

4Q03

1Q04

1Q03

2Q03

3Q03

4Q03

1Q04


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BB - the bank that invests the most in Brazil

Change %

R$ million

1Q03

4Q03

1Q04

/ 1Q03

/ 4Q03

Total Assets

209,240

230,144

231,107

10.5

0.4

Liquid Assets

88,366

102,439

104,795

18.6

2.3

Credit Operations

53,475

65,604

66,461

24.3

1.3

10,927

9,406

9,116

(16.6)

(3.1)

Tax Credit

Other Assets

56,473

52,695

50,736

(10.2)

(3.7)

Total Liabilities

209,240

230,144

231,107

10.5

0.4

Deposits

98,130

110,014

110,219

12.3

0.2

Other Liabilities

100,227

107,959

108,202

8.0

0.2

Shareholders’ Equity

10,164

12,172

12,686

24.8

4.2

Asset Composition - %

Market Funding - R$ billion

147.7

150.1

150.6

22.0

22.9

24.7

27.0

28.8

3.9

4.1

4.6

5.2

5.1

28.8

28.5

28.1

25.6

27.5

49.6

48.2

46.1

45.0

40.3

40.1

30.3

45.3

44.5

27.4

27.6

27.1

26.8

42.2

42.6

38.6

21.0

7.3

6.2

5.2

Demand Deposits

Savings Deposits

Time Deposits

Open Market Funds

Interbank Deposits

1Q04

1Q03

2Q03

3Q03

4Q03

Total

Liquid assets

Credit Operations

1Q03

4Q03

1Q04

Other Assets

Tax Credit


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liquidity preserved

Securities Portfolio

Change %

1Q03

4Q03

1Q04

/ 1Q03

/ 4Q03

R$ million

(10.3)

(2.5)

Securities Portfolio

75,631

69,590

67,875

Available for trading

5,137

16,095

12,338

140.2

(23.3)

Available for sale

43,352

28,307

30,266

(30.2)

6.9

Held to Maturity

26,846

24,821

24,959

(7.0)

0.6

(10.0)

11.7

Derivatives

296

368

331

Securities Portfolio Maturity - %

0.7

1.7

1.7

1.8

2.1

8.7

10.6

9.3

12.6

13.3

58.2

70.5

64.1

69.3

72.0

26.8

21.6

18.9

16.7

19.5

1Q04

1Q03

2Q03

3Q03

4Q03

Up to 1 year

1 to 5 years

5 to10 years

Over 10 years


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well balanced credit portfolio

1Q04 - Balance R$ 79.6 billion

Credit Portfolio

2.0%

12.6%

22.3%

10.3%

4Q03 - Balance R$ 77.6 billion

1.9%

12.2%

20.6%

20.2%

32.5%

9.5%

1Q03 - Balance R$ 65.7 billion

20.9%

2.7%

14.5%

20.3%

35.0%

12.3%

22.2%

Retail

Commercial

Agribusiness

Foreign Trade

Abroad

Others

27.9%


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increase with resposibility

Credit Portfolio by Risk Level

Shares % - 1Q04

4.7

6.7

1.6

0.6

2.5

16.5

11.0

8.5

15.3

14.5

18.6

31.1

89.0

83.9

80.9

78.8

77.9

57.9

Retail

Commercial

Agribusiness

Foreign Trade

BB

NFS

AA-B

C-D

E-H


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increase with resposibility

Credit Portfolio by Risk Level -%

Commercial and Foreign Trade Portfolio

Credit Portfolio

80,0

80,0

70,0

70,0

60,0

60,0

50,0

50,0

40,0

40,0

30,0

30,0

20,0

20,0

10,0

10,0

AA

A

B

C

D

E

F

G

H

AA

A

B

C

D

E

F

G

H

1Q03

1Q04

1Q03

1Q04

80,0

80,0

Retail

Agribusiness

70,0

70,0

60,0

60,0

50,0

50,0

40,0

40,0

30,0

30,0

20,0

20,0

10,0

10,0

AA

A

B

C

D

E

F

G

H

AA

A

B

C

D

E

F

G

H

1Q03

1Q04

1Q03

1Q04


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ability to increase businesses with customers

Capital Adequacy

Change %

R$ million

1Q03

4Q03

1Q04

/ 1Q03

/ 4Q03

(1,1)

Risk weighted Assets

104.043

120.973

119.691

15,0

Required Shareholders’ Equity

11.941

13.772

13.646

14,3

(0,9)

Required on weighted assets

11.445

13.307

13.166

15,0

(1,1)

Required on swap

154

152

150

(2,8)

(1,2)

Required on exchange exp

-

-

-

Required on Interest rate exp

343

313

331

(3,5)

5,6

Referential Shareholders’ Equity

14.545

17.162

17.740

22,0

3,4

Level I

10.139

12.147

12.336

21,7

1,6

Capital Social

(623)

228

127

(120,3)

(44,4)

20% Realizable Tax Credit After 5 Years

-

-

(326)

4.406

5.015

5.405

22,7

7,8

Level II

2.604

3.391

4.094

57,2

20,7

Surplus / shareholders’ equity deficit

Surplus / leverage deficit

23.673

30.825

37.220

57,2

20,7

Coefficient K %

13,40

13,71

14,30

BIS Ratio - %

14.3

14.3

13.8

13.7

13.4

4.2

4.4

4.1

4.0

4.1

10.1

9.9

9.7

9.7

9.3

1Q03

2Q03

3Q03

4Q03

1Q04

Level I

Level II


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insurance and private pension

Insurance / Net Aggregated Value

Insurance Revenue

1Q04

1Q03

R$ million

3.4%

3%

16

22.4%

Manag. Insur. Funds

14

16.6%

9

36

Private Pension

14

13

41

Capitalization Plans

51

80.4%

74.2%

42

GFM

Others

Insurance

69

Life, Health and Others

71

64

15

Auto

19

18

175

Total

170

145

1Q03

4Q03

1Q04


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market recognition

1.3

1.4

1.0

0.9

0.7

17.3

16.6

16.0

14.9

13.9

7.4

6.8

5.0

4.1

3.5

1Q03

2Q03

3Q03

4Q03

1Q04

Price

Price / Earnings

Price / BV - x

Obs: Share Market Price adjusted by income



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For further information access www.bb.com.br/ri

Investor Relations Division

SBS - Quadra 1 - Bloco C - Ed. Sede III - 17° floor

70073-901 - Brasília (DF)

Phone: 55 (61) 310.5920

Fax: 55 (61) 310.3735

www.bb.com.br

[email protected]

Disclaimer- This presentation contains references and statements, planned synergies, increasing estimates, projections of results and future strategy for Banco do Brasil, it’s Associated and Affiliated Companies and Subsidiaries. Although these references and statements reflect the management’s belief, it also involves imprecision and high difficult risks to be foreseen, consequently, it may conduct to a different result than the one anticipated here. These expectations are highly depended on market conditions, on the Brazilian economic performance, on the sector and the international market. Banco do Brasil is not responsible for bringing up to date any estimate in this presentation.


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