Banco Pine Releases its 3Q10 Results

SAO PAULO, Nov. 9, 2010 /PRNewswire-FirstCall/ -- Banco PINE (BM&FBovespa: PINE4), a publicly-held multiple bank specializing in the corporate segment, announces today its net income of R$37.6 million in the third quarter of 2010, compared to R$22.1 million in the third quarter of 2009. Earnings per share reached R$0.45 in 3Q10, compared to R$0.26 in 3Q09.

Banco PINE offers its clients a complete range of credit and onlending products in domestic and foreign currencies. It also offers financial and strategic advisory services, treasury and investment products.  Banco PINE thoroughly understands the needs and strategies of its clients to provide them with customized services, efficiently and quickly.

• Quarterly Highlights
  • Positive contribution of all business lines: Corporate Loans, Sales Desk and PINE Investimentos
  • Positive liquidity gap: average loan portfolio maturity of 14 months, versus 18 months for funding
  • Strong capital structure: Capital Adequacy Ratio (BIS) of 18.4%

• Quarter-on-quarter improvement of main indicators:
  • Net income: R$37.6 million, growing 5.6%
  • Operating income: R$73.0 million, growing 20.7%
  • Annualized ROAE: 18.6%, growing 70 bps
  • Corporate loan portfolio: R$5.3 billion, growth of 9.8%
  • Time deposits + Agribusiness Letters of Credit (LCA): R$3.3 billion, growth of 12.5%
  • Non-performing loans: 0.6%, compared to 0.7%

• Improvement of main indicators in 9M10 compared to 9M09:
  • Net income: R$103.4 million, growing 61.7%
  • Operating income: R$181.3 million, growing 76.0%
  • Annualized ROAE: 16.6%, growing 610 bps

The Bank's main indicators improved in the quarter. The loan portfolio grew with quality, and all business lines contributed positively to the result. The numbers in the quarter reflect the strategy presented in the last years. PINE is a commercial bank with a client-oriented approach that seeks to meet their diverse needs in a personalized manner.

Today, Banco PINE has the main resources necessary for sustained growth: qualified human capital, comfortable capitalization and adequate funding. These resources enabled the Bank to increasingly provide better service by constantly creating new solutions, generating client captivity and promoting an environment that is propitious for cross-selling.

The full earnings release is available on Banco Pine's IR website at www.bancopine.com.br/ir

Banco Pine will hold Conference Calls on 3Q10 Results tomorrow, November 10, at 9:00 a.m. (US EST) in English and at 7:30 a.m. (US EST) in Portuguese.

SOURCE Banco PINE