Banco PINE Releases Its 4Q09 Results

USA - English

• USA - English
• USA - English
• USA - English

SAO PAULO, March 1 /PRNewswire-FirstCall/ -- Banco PINE S.A. (Bovespa: PINE4) (Banco PINE) specializes in the corporate segment, offering its clients a complete range of credit products in both local and foreign currency. It also offers financial and strategic advisory services, treasury products, investments and onlending operations. Banco PINE thoroughly understands the needs as well as the strategies of companies in order to provide them with customized services efficiently and quickly.

Highlights:

-- Net income in 2009 was R$85.1 million, representing a 10.3% ROAE. The 4Q09 result was R$21.1 million, while the annualized ROAE stood at 10.7%

-- Operating income was another highlight in the quarter, increasing 28.6% yoy to R$38.2 million.

-- In December 2009, the Corporate loan portfolio, Banco PINE's core business, was R$4.1 billion, an expansion of 20.6% over September.

-- The quality of the loan portfolio also improved. In December 2009, 97.9% of the loan portfolio was rated between AA and C. Despite the volatility in the markets, Banco PINE's Non-Performing Loan ratio remained below 2%. In 2009, the peak was 1.7% on June 30. On December 31, the NPL ratio stood at 0.7%, demonstrating the improvement in the credit environment.

-- In December 2009, total deposits, including Agribusiness Letters of Credit, totaled R$3.0 billion, a 107.2% growth in relation to December 2008, the highest level ever in the Bank's history.

-- In February 2010, Banco PINE successfully concluded the issuance of subordinated notes. The total amount issued was US$125 million with maturity of seven years. After the Brazilian Central Bank approval, Banco PINE will be able to classify this as Tier II, boosting Shareholders' Equity to more than R$1 billion.

-- Banco PINE's analyst meeting was selected as one of the 10 best held at APIMEC Sao Paulo in 2009. For Banco PINE, transparency and respect for good corporate governance practices are fundamental.

The full earnings release for 4Q09 is available on Banco PINE's IR website at www.bancopine.com.br/ir

Banco PINE will hold Conference Calls on 4Q09 Results tomorrow, March 2, at 9:30 a.m. (ET) in English and at 8:00 a.m. (ET) in Portuguese.

SOURCE Banco PINE