Institutional Presentation Institutional Presentation 3Q15
Institutional PresentationInstitutional Presentation 3Q15
2/32Investor Relations | 3Q15 |
Profile and History PineHistory
Business StrategyCompetitive LandscapeFocus Always on the ClientCorporate CreditFICCPine Investimentos
Highlights and Results
Corporate GovernanceCorporate GovernanceCommitteesSocial Investment and Responsibility
Summary
Profile and History
4/32Investor Relations | 3Q15 |
Over R$2 billion36%
R$500 million to R$2 billion
34%
Up to R$500 million30%
PineSpecialized in providing financial solutions for corporate clients…
Credit Portfolio by Annual Client Revenues
Profile
Focused on establishing long-term relationships
Profound knowledge and product penetration
Business is structured along three primary business lines:
• Corporate Credit: credit and financing products
• FICC: instruments for hedging and risk management
• Pine Investimentos: Capital Markets, Financial Advisory, Project & Structured Finance and Research
September 30th, 2015
5/32Investor Relations | 3Q15 |
184 222 341 521 620 755 663 761 1,2142,854 3,105
4,1925,763
6,9637,912
9,920 9,826
7,691
62121 126 140 136 152 171 209
335
801 827 825 867
1,015
1,220 1,272 1,2561,181
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
sept
/15
Corporate Credit Portfolio (R$ Million)Shareholders' Equity (R$ Million)
...with extensive knowledge of Brazil’s corporate credit cycle. History
1997Noberto and
Nelson Pinheiro sell their stake in BMC and found
Pine
1939Pinheiro Family
foundsBanco Central do
Nordeste
1975Noberto Pinheiro becomes one of
BMC’s controlling shareholders
Devaluationof the real
Nasdaq Sept. 11 Brazilian Elections
(Lula)
SubprimeAsian Crisis
Russian Crisis
European Community
End of 2007Focus on expanding the Corporate Banking franchise
Discontinuation of the payroll-deductible loan business
May, 2007Creation of Pine Investimentos products line and
opening of the Cayman branch 2005
Noberto Pinheiro becomes Pine’s sole shareholder
October, 2007Beginning of the FICC Business
October, 2011Subscription of Pine’s capital by DEG
August, 2012 Subscription of Pine’s capital by DEG, Proparco, Controlling Shareholder and Management
November, 2012Opening of the broker dealer in New York, Pine Securities USA LLC
March, 2007IPO
May, 201518
years
Business Strategy
7/32Investor Relations | 3Q15 |
Competitive LandscapePine serves a niche market of companies with few options for banks.
100% focused on providing complete service to companies, offering
customized productsCorporate & SME
SME & Retail
Retail
100% Corporate
Large Multi-Services banks
Market
Consolidation of the banking sector has decreased the supply of credit lines and financial instruments for corporate
Foreign banks are in a deleveraging process
PINE
Full service Bank – Credit, Hedging, and Investment Bank products – with room for growth
~15 clients per officer
Competitive Advantages: Focus Fast response: Strong relationship with
clients, with the credit committee meeting twice a week and response times to clients of no more than one week
Specialized services Tailor-made solutions Product diversity
Foreign and Investment
Banks
8/32Investor Relations | 3Q15 |
Focus Always on the ClientProducts tailored to meet the needs of each individual client.
Working Capit
CDIs
BankGuarantees
Exclusive Funds Portfolio
Management
Swap NDFsStructured Swaps
BNDESOnlendingBankGuarantees
ComprorACC/ACE
ExportFinanceFinimp
LettersofCredit3,884 Onlending
OverdraftAccounts
SyndicatedandStructuredLoans
Fixed Income
CurrenciesCommodities
Equities
CDBs
CDs
RDBs
LCAs
LCIs
DebenturesCRIs
Eurobonds
PrivatePlacements
Financial Letters
Clients
Treasury
CorporateCredit
FICC
PineInvestimentos
DistributionCapital MarketsFinancial Advisory
Local Currency
Foreign Currency
FixedIncome Currencies
Commodities
Pricing of Assets and Liabilities
LiquidityManagement
Trading
Local Currency Onlending
Foreign Currency Trade Finance
ParticipationFunds
Options
Working CapitalUnderwriting
Corporate & Structured
Finance
M&AProjectFinance
StructuredFinance
Private Credit Funds
Real Estate Funds
Rural Credits
AircraftFinancing
Investment Management
In additionto theheadquarterslocatedin thecity ofSão Paulo, Pine has7 branchesthroughoutBrazil, in theStates ofCeará, Mato Grosso, Paraná, Pernambuco, Rio de Janeiro, Rio Grande do Sul, and São Paulo. The originationnetwork also counts with aCayman Branch and a brokerdealerin New York (USA).
9/32Investor Relations | 3Q15 |
Corporate Credit
Actions Credit Committee
Strong track record and solid credit origination and approval process.
Credit Approval: Electronic Process
Origination Officers
Credit origination Credit analysis, visit to clients, data updates, interaction with
internal research team
Credit AnalystsRegional Heads of
Origination and Credit Analysis
Presentation to the Credit Committee
CRO, Executive Directors and
Analysts of Credit
Centralized and unanimous decision making process
CREDIT COMMITTEE
Meets once a week – reviewing 20 proposals on average
Minimum quorum: 4 members - attendance of CEO or Chairman is mandatory
Members:Chairman of the BoardCEOChief Risk OfficerChief Financial Officer
Participants:FICC Executive Director Credit Analysts TeamOther members of the Corporate Banking origination team
Personalized and agile service, working closely with clients and keeping a low client to account officer ratio: each officer handles ~15 economic groups
Geographic coverage of clients, providing the bank with local and extremely up-to-date credit intelligence and information
Established long term relationships with more than 600 economic groups
Origination network is comprised of 10 branches divided into 14 origination platforms in Brazil’s major economic centers
Pine has approximentely 25 professionals in the credit analysis area, assuring that analysis is fundamentally driven and based on industry-specific intelligence
Efficient loan and collateral processes, documentation, and controls, which has resulted in a low NPL track record
Discussion on sizing, collateral, structure etc.
10/32Investor Relations | 3Q15 |
Commodities13%
Fixed Income15% Currencies
72%
September 30th, 2015
Scenario on September 30th, 2015:
Duration: 220 days
Mark-to-Market: R$560 million
Stress Scenario (Dollar: +31% and Commodities Prices: -30%):
Stressed MtM : R$894 million
R$ million
FICCSolid trackrecord
Client Notional Derivatives by Market
Market Segments
Notional Value and MtM
Portfolio Profile
FixedIncome: Fixed, Floating, Inflation, Libor
Currencies: Dollar, Euro, Yen, Pound, Canadian Dollar,Australian Dollar
Commodities: Sugar, Soybean (Grain, Meal and Oil), Corn,Cotton, Metals, Energy
8,376 7,703 7,482 7,948 3,270 6,045
288 221349 366
560 514
-47
-365
-10333
894
239
Sept-14 Dec-14 Mar-15 J un-15 Sept-15 Oct-15
Notional AmountMtMStressed MtM
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September, 2015
Infrastructure Debentures
Lead Coordinator
September, 2015
Debentures
Coordinator
R$10,300,000R$500,000,000
J uly, 2015
Project Finance
R$104,000,000
Coordinator
R$45,200,000
November, 2014
Debentures
Lead Coordinator
December, 2014
BNDES Onlending
R$630,000,000
Coordinator
J uly, 2015
February, 2015
March, 2015
Project Finance
R$78,000,000
Coordnator
Project Finance
R$30,000,000
Lead Coordinator
Structuring CRP
R$24,000,000
Lead Coordinator
R$20,000,000
J une, 2015
CRI
Lead Coordinator
2
5
2Q15 3Q15
11 10
9M14 9M15
R$ million
Pine Investimentos
Fee Generation
Selected Transactions
Capital Markets: Structuring and Distribution of
Fixed Income Transactions.
Financial Advisory: Project & Structured Finance,
M&A, and hybrid capital transactions.
Research: Macro and Commodities.
Highlights and Results
13/32Investor Relations | 3Q15 |
3Q15 Events and Highlights
1.Positive liquidity gap in the past years, with 401 days for credit versus 486 days for funding.
2.Liquid balance sheet with a cash position equivalent to 41% of time deposits.
3.Deeper deleveraging strategy in the loan portfolio, given the worsening of the economic scenario.
4.Voluntary pre-payment of the FIDC AGRO senior quotas amounting to R$340 million, in line with the Bank’s constant and active liability management.
5.Loan portfolio coverage ratio above 4% as a result of preventive provision increases in the last fifteen months.
6.Further reduction of expenses, as a result of the diligence and anticipation of an adverse market in 2015.
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3Q15 Financial Highlights
1 Includes Stand by LCs, Bank Guarantees, Credit Securities to be Received and Securities (bonds, CRIs, eurobonds and fund shares)
R$ million
The main performance indicators were within expectations in the period.
3.3% 2.9%
2Q15 3Q15
NIM Evolution
-40 bps
10 10
2Q15 3Q15
Net Income
3.3% 3.5%
2Q15 3Q15
ROAE
+20 bps
1,208 1,181
Jun-15 Sept-15
Shareholders' Equity
-2.2%
8,621 7,691
Jun-15 Sept-15
Total Loan Portfolio1
-10.8%
7,564 7,409
Jun-15 Sept-15
Total Funding-2.0%
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R$ million3Q15 2Q15 3Q14 9M15 9M14
Financial MarginIncome from financial intermediation 1 80 92 135 297
Overhedge effect 55 (10) 4 79 (2)Income from financial intermediation ex overhedge 56 70 96 214 296
Net Interest Margin
NIM Evolution Main Impacts
NIM Breakdown
Lower participation in revenues from FICC business
and Treasury;
Mark to market of securities and derivatives according
to 4.277 Resolution of the Central Bank of Brazil;
Voluntary pre-payment of the FIDC senior quotas; and
Marginal increase in spreads.
3.3% 2.9%
2Q15 3Q15
-40 bps
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2422 2222
1720
35.4%44.9% 50.6%
-100%
-80%
-60%
-40%
-20%
00%
20%
40%
60%
0
5
10
15
20
25
30
35
40
45
50
3Q14 2Q15 3Q15
70 666855
37.5%44.3%
-100%
-80%
-60%
-40%
-20%
00%
20%
40%
60%
0
20
40
60
80
100
120
140
9M14 9M15
PersonnelExpenses
OtheradministrativeexpensesRecurringEfficiency Ratio(%)
Expenses and Efficiency Ratio
Expenses
Efficiency Ratio
Rigorous cost control.
R$ million3Q15 2Q15 3Q14 9M15 9M14
Operating expenses1 44 48 49 137 146 (-) Non-recurring expenses (4) (4) (4) (9) (9)
Recurring Operating Expenses (A) 41 44 45 128 137 Recurring Revenues2 (B) 81 98 127 289 365 Recurring Efficiency Ratio (A/B) 50.6% 44.9% 35.4% 44.3% 37.5%1 Other administrative expenses + tax expenses + personnel expenses2 Gross Income from financial intermediation - provision for loan losses + fee income + overhedge effect - hedge impact
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1 Includes Stand by LC2 Includes debentures, CRIs, Hedge Fund Shares, Eurobonds, Credit Portfolio acquired from financial institutions with recourse and Individuals
R$ million
Loan PortfolioThe portfolio amounted to R$7.7 billion...
-21.5%
-10.8%
1
24,509
5,050 5,093 4,904 4,731 4,730 4,440 4,066 3,650
9901,068 1,103 1,071 1,248 1,302
1,1181,074
924
3,0732,909 2,905 2,941 2,896 2,969
3,1912,896
2,492
965903 989 1,116 924 826 909
585
626
Sept-13 Dec-13 Mar-14 Jun-14 Sept-14 Dec-14 Mar-15 Jun-15 Sept-15
Trade finance: 8.1%
Bank Guarantees:32.4%
BNDES Onlending : 12.0%
Working Capital: 47.5%
9,657
8,621
7,691
9,5379,930 10,090 10,032 9,800 9,826
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38%38%40%41%41%
7%7%6%5%6%9%9%8%9%6%
10%10%11%8%9%
12%12%14%14%16%
12%12%12%14%12%
12%12%9%9%10%
Sept-15Jun-15Sept-14Sept-13Sept-12
Energy
Real Estate
Sugar andEthanol
Agriculture
Engineering
Transportationand Logistics
Others
Continuous Loan Portfolio Management
Sectors Rebalance
...with improved sector diversification.
The composition of the portfolio of the 20 largest clients changed by over 20% in the past twelve months;
The share of wallet of the 20 largest clients remained below 30%, in line with market peers.
Energy12%
Real Estate12%
Sugar and Ethanol12%
Agriculture10%
Engineering9%
Transportation and Logistics
7%
Specialized Services
4%
Telecom4%
Chemicals4%
Foreign Trade3%
Metallurgy3%
Retail3%
Vehicles and Parts3%
Construction Material
2%
Meatpacking2%
Food Industry1%
Other9%
19/32Investor Relations | 3Q15 |
SP68%
MG22%
PR8%
GO2%
Working Capital48%
Guarantees31%
BNDES Onlending
12%Trade
Finance9%
Working Capital77%
Guarantees23%
Residential Lots39%
Residential37%
Warehouse12%
Mall8%
Commercial4%
Guarantees59%
Working Capital
31%
BNDES Onlending
10%
Wind Power67%
UTE1%
Distributors13%
Transmitting9%
Equipment Supplier
6%SHPs UHEs
4%
Main SectorsEnergy| Real Estate | Agriculture
Energy (12%) Real Estate (12%)
Sugar and Ethanol (12%)
Exposure by Product Exposure by Segment Exposure by Product Exposure by Segment
Exposure by Product Exposure by State
20/32Investor Relations | 3Q15 |
MT31%
SP29%
BA11%
PR10%
MG8%
Others11%
Concession33%
Transporta-tion33%
Industrial25%
Oil and Gas7%
Energy2%
Working Capital64%
BNDES Onlending
19%
Trade Finance
15%
Guarantees1%
Working Capital83%
Guarantees13%
BNDES Onlending
4%
Main SectorsAgriculture| Engineering
Agriculture (10%) Engineering (9%)
Exposure by Product Exposure by Product
Exposure by Segment
Exposure by State
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AA-A37.7%
B29.5%
C25.1%
D-E4.3%
F-H3.4%
1.1% 0.7% 0.1% 0.7% 0.3% 0.3%1.1%
2.1% 1.8%
J un-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15
September 30th, 2015
Contracts Overdue: total amount of the contracts overdue for more than 90 days / Loan Portfolio excluding Bank Guarantees and Stand-by Letters of Credit.
1D-H Portfolio: D-H Portfolio / Loan Portfolio Res. 2,6822Coverage of Total Portfolio: Provisions / Loan Portfolio Res. 2,682 3Coverage D-H Overdue Portfolio: Provisions / D-H Overdue Portfolio
Loan Portfolio Quality92.3% of the loan portfolio is classified between AA-C ratings.
Loan Portfolio Quality – Res. 2,682
Credit Coverage
Non Performing Loans > 90 days (Total Contract)
Collaterals
1 2 3
0.7% 0.1% 0.7% 0.3% 0.3%1.1%
2.1% 1.8%1.2%
set-13 dez-13 mar-14 jun-14 set-14 dez-14 mar-15 jun-15 set-15Sept-13 Dec-13 Mar-14 Jun-13 Sept-14 Dec-14 Mar-15 Jun-15 Sept-15
Products Pledge41%
Receivables15%
Properties Pledge41%
Investments3%
1,628%
172% 127%50%
1.050%
2.050%
4.2%
6.6%7.7%
2.1%
4.1% 4.1%
00%
02%
04%
06%
08%
10%
12%
00%
01%
02%
03%
04%
05%
06%
07%
08%
09%
10%
Sept-14 Jun-15 Sept-15D-H Portfolio Coverage of Total Portfolio Coverage of D-H Overdue Portfolio
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-2.0%
R$ million
FundingDiversified sources of funding...
58%
48%
48%
47%
41%
39%
41%
35%
41% Cash over Deposits
-14.2%
1,944 2,175 2,314 2,271 1,905 1,720 1,209 951 853
1,048 1,112 1,022 761731
545361
291 343
372475 659 908
9201,122
1,2731,322 1,321
9390 76 80
98 69157 197 359
2023 27 41
30 2724 18 33
1,0991,141 1,174 1,086
1,292 1,3331,161
1,091 952
649632 582 594 709 635
509476 207
762792 833
508 892747
796787
764
437459 434
427323
347
338272
318
69113
364346 388 687
837819 1,022
429500
478473
531 430773
735 545
973871
8341,064 819 839 929
605 692
8,367
7,564 7,4097,894
8,3838,797 8,559 8,638 8,500
Sept-13 Dec-13 Mar-14 Jun-14 Sept-14 Dec-14 Mar-15 Jun-15 Sept-15
Trade Finance: 9.3%
Private Placements: 7.4%
Multilateral Lines: 13.8%
International Capital Markets:4.3%
Financial Letter : 10.3%
Local Capital Markets: 2.8%
Onlending: 12.8%
Demand Deposits: 0.4%
Interbank Time Deposits: 4.8%
High Net Worth Individual TimeDeposits: 17.8%
Corporate Time Deposits: 4.6%
Institutional Time Deposits:11.5%
23/32Investor Relations | 3Q15 |
43% 41% 36% 37% 39%
57% 59% 64% 63% 61%
Sept-14 Dec-14 Mar-15 J un-15 Sept-15
Total Deposits Others
Leverage: Expanded Loan Portfolio / Shareholders’ Equity Expanded Loan Portfolio excluding Bank Guarantees and Stand-by Letters of Credit / Shareholders’ Equity
Credit over Funding ratio: Loan Portfolio excluding Bank Guarantees and Stand-by Letters ofCredit / Total Funding
Asset & Liability Management... keeping a positive gap between credit and funding.
Leverage
ALM – Average Maturity
Credit over Funding Ratio
Total Deposits over Total FundingR$ milliondays
8,638 8,367 7,564 7,4098,500
GAP: +3 months
472 498 514
501 486
398 371362
385 401
Sept-14 Dec-14 Mar-15 J un-15 Sept-15
Funding
Credit
7.7x 7.8x 7.8x7.1x
6.5x5.4x 5.4x 5.2x 4.7x 4.4x
-
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
9.00
10.00
Sept-14 Dec-14 Mar-15 Jun-15 Sept-15
Expanded loan PorfolioLoan Portfolio excludingBank Guarantees 80% 80% 77% 76% 70%
Sept-14 Dec-14 Mar-15 Jun-15 Sept-15
24/32Investor Relations | 3Q15 |
Capital Adequacy Ratio (BIS), Basel III BIS ratio maintained at 13.1%
+80 bps13.7%12.0% 12.2% 12.2% 12.4% 12.4% 12.2% 12.3% 12.2% 12.9%
2.2%2.1% 1.5% 1.5% 1.4% 1.4% 0.8% 0.8% 0.9% 1.0%
15.9%14.1% 13.7% 13.7% 13.8% 13.9%
13.0% 13.1% 13.1%13.9%
Sept-13 Dec-13 Mar-14 J un-14 Sept-14 Dec-14 Mar-15 J un-15 Sept-15 Sept-15*
Tier II Tier IMinimum Regulatory Capital (11%)
* Capital Simulation: It considers the new capital allocation weighting of 50% for transactions with guarantees for judicial or administrative proceedings involving tax matters, pursuant to Circular Letter 3.770 of the Brazilian Central Bank.
25/32Investor Relations | 3Q15 |
Rating
Long term BB BB Ba3 -
Short Term B B - -
Long term brA+ A+(bra) A3.br
Short Term - F1+(bra) Br-2
Loca
l Cur
renc
y
And
Fore
ign
Curr
ency
Nat
iona
l
10,70
26/32Investor Relations | 3Q15 |
R$ millionSept-15 Jun-15 Sept-14
Assets 9,920 10,031 10,885 Cash 123 272 71 Interbank investments 445 327 1,529 Securities 3,451 3,061 2,041 Interbank accounts 1 1 1 Lending operations 4,775 5,281 6,374 (-) Provisions for loan losses (198) (217) (132) Net lending operations 4,577 5,064 6,243 Other receivables 1,310 1,291 876 Property and equipments 13 14 125
Investments - - 105 Property and equipment in use 12 13 19 Intangible 1 1 1
Liabilities 8,739 8,823 9,612 Deposits 1,846 1,539 2,744 Money market funding 756 432 624 Funds from acceptance and securities issued 2,036 2,182 1,960 Interbank and Interbranch accounts 13 9 9 Borrowings and onlendings 3,040 3,118 2,913 Derivative financial instruments 264 182 165 Other liabilities 719 1,291 1,120 Deferred Results 65 70 78
Shareholders' equity 1,181 1,208 1,273
Liabilities and shareholders' equity 9,920 10,031 10,885
Balance Sheet
27/32Investor Relations | 3Q15 |
Managerial Income Statement(overhedge effect and provisions reclassified)
R$ million
3Q15 2Q15 1Q15 4Q14 3Q14 9M15 9M14
Income from financial intermediation 758 180 633 402 437 1,570 957
Lending transactions 178 176 201 198 222 555 584 Securities transactions 81 83 68 79 78 232 245 Derivative financial instruments 488 (64) 285 107 92 709 102 Foreign exchange transactions 11 (14) 79 19 45 75 26
Expenses with financial intermediation (758) (153) (600) (363) (378) (1,510) (725)
Funding transactions (322) (134) (257) (201) (208) (713) (488)Borrowings and onlendings (380) 24 (288) (108) (133) (644) (174)Provision for loan losses (56) (42) (55) (54) (38) (154) (64)
Gross income from financial intermediation (0) 27 33 39 59 60 232
Other operating (expenses) income (53) (34) (34) (43) (36) (121) (109)
Fee income 26 25 21 23 26 72 70 Personnel expenses (22) (22) (23) (27) (24) (66) (70)Other administrative expenses (20) (17) (18) (22) (22) (55) (68)Tax expenses (2) (10) (4) (3) (3) (16) (8)Other operating income 2 1 11 4 5 14 21 Other operating expenses (36) (12) (22) (17) (17) (70) (54)
Operating income (53) (7) (1) (3) 23 (61) 123
Non-operating income (1) 1 4 (1) 4 5 16
Income before taxes and profit sharing (53) (6) 3 (4) 28 (56) 139
Income tax and social contribution 73 17 20 15 3 111 (15)Profit sharing (10) (2) (13) (6) (12) (24) (35)Net income 10 10 10 5 19 31 89
28/32Investor Relations | 3Q15 |
R$ million3Q15 2Q15 3Q14 9M15 9M14
Income from financial intermediation 703 190 433 1,491 959 Lending transactions 178 176 222 555 584 Securities transactions 81 83 78 232 245 Derivative financial instruments 433 (54) 87 629 104 Foreign exchange transactions 11 (14) 45 75 26
Expenses with financial intermediation (758) (86) (319) (1,443) (666)
Funding transactions (322) (134) (208) (713) (488)Borrowings and onlendings (380) 24 (133) (644) (174)Provision for loan losses (56) 24 22 (87) (4)
Gross income from financial intermediation (55) 104 114 48 293
Other operating (expenses) income (53) (101) (95) (188) (168)
Fee income 26 25 26 72 70 Personnel expenses (22) (22) (24) (66) (70)Other administrative expenses (20) (17) (22) (55) (68)Tax expenses (2) (10) (3) (16) (8)Other operating income 2 1 5 14 21 Other operating expenses (36) (79) (77) (137) (114)
Operating income (108) 3 19 (140) 125
Non-operating income (1) 1 4 5 16
Income before taxes and profit sharing (108) 5 23 (135) 140
Income tax and social contribution 128 7 7 190 (16)Profit sharing (10) (2) (12) (24) (35)Net income 10 10 19 31 89
Income Statement
Corporate Governance
30/32Investor Relations | 3Q15 |
Corporate GovernancePine is committed to best corporate governance practices
Two Independent Members and one External Member on the Board of DirectorsMailson Ferreira da Nóbrega: Brazil’s Finance Minister from 1988 to 1990Gustavo Junqueira: Former Head of Pine Investimentos, Member of the Board of Directors at EZTEC, Financial Advisor at Arsenal Investimentos and CFO at Gradiente Eletrônica Harumi Susana Ueta Waldeck: Former CFO of Pine, with over 17 years of experience at the company. She brings the day-to-day experience to the Board.
São Paulo Stock Exchange (BM&FBOVESPA) Level 2 Corporate Governance
Audit and Compensation Committee reporting directly to the Board of Directors
100% tag along rights for all shareholders, including non-voting shares
Arbitration procedures for fast settlement of litigation cases
31/32Investor Relations | 3Q15 |
Social Investment and ResponsibilityFocus on the short, medium and long term.
Social Investment Recognition
Partnerships
Most Green Bank
Recognized by the International Finance Corporation (IFC), private agency programs of the World Bank as the most "green" bank as a result of its transactions under the Global Trade Finance Program (GTFP) and its onlending to companies focused on renewable energy and ethanol
Efficiency Energy
Recognition by World Bank for support in the Energy Efficiency sector.
Responsible Credit
“Lists of Exceptions”: the Bank does not finance projects or those organizations that damage the environment, are involved in illegal labor practices or produce, sell or use products, substances or activities considered prejudicial to society.
System of environmental monitoring, financed by the IADB and coordinated by FGV, and internally-produced sustainability reports for corporate loans
Protocolo Verde – “Green Protocol”, an agreement between FEBRABAN and the Ministry of the Environment to support development that does not compromise future generations.
Exhibition and sponsorship of Brazilian artists, for instance Paulo von Poser and Miguel Rio Branco, in addition to sponsoring and supporting films and documentaries such as Quebrando o Tabu (Fernando Henrique Cardoso on the drug war), O Brasil deu certo, e agora? (idealized by Mailson da Nóbrega), Além da Estrada (Charly Braun) and others.
Sustainability Annual Report
Sixth consecutive year disclosing the Sustainability Report in the GRI standard. The 2014 report, with its high level of clarity, transparency and quality was recognized with the second place in the Abrasca Annual Report Award, considering its category of companies with net income to R$3 billion.
32/32Investor Relations | 3Q15 |
This report may contain forward-looking statements concerning the business prospects, projections of operating and financial results and growth outlook of PINE. These are merely projections and as such are based solely on management’s expectations regarding the future of the business. These statements depend substantially on market conditions, the performance of the sector and the Brazilian economy (political and economic changes, volatility in interest and exchange rates, technological changes, inflation, financial disintermediation, competitive pressures on products and prices and changes in tax legislation) and therefore are subject to change without prior notice.
Noberto N. Pinheiro JuniorCEO/IRO
João BritoCFO
Raquel Varela BastosHead of Investor Relations, Marketing & Press
Luiz MaximoInvestor Relations Specialist
Gabriel NettoInvestor Relations Analyst
Phone: (55 11) 3372-5343
Investor Relations