SAO PAULO, May 7, 2012 /PRNewswire/ -- PINE (BM&FBovespa: PINE4), a wholesale bank specializing in establishing long-term relationships in the corporate segment, announces today its consolidated BRGAAP results for 1Q12. Below are the quarter's highlights.
- Highlights 1T12 x 1T11
- Total Assets: R$10.4 billion, 10.2% growth
- Expanded Corporate Credit portfolio: R$7.3 billion, 25.4% growth
- Corporate Credit Coverage: 3.5%, 80 bps growth
- Total Funding: R$6.4 billion, 20.6% growth
- Shareholders' Equity: R$1,0 billion, 17.1% growth
- Annualized ROAE: 19.5%, 430 bps growth
- Other Highlights
- In April, PINE carried out its first offering of financial bills known as Letras Financeiras, issuing R$313.2 million in two-year notes.
- Highly liquid balance sheet with cash position amounting to R$1.2 billion, which corresponds to 34% of time deposits.
- Positive liquidity gap between the credit and funding portfolios of 3 months: 14 months for credit and 17 months for funding. The Bank has maintained this positive gap for 24 months.
- Positive revenue contributions from all business lines in the quarter: 57.3% from Corporate Credit, 24.3% from the Hedging Desk, 8.2% from Treasury, with the highlight being PINE Investimentos, which contributed 10.2%.
- Ranked by CETIP among the 14 largest banks in derivative operations for clients and first in commodity NDFs for clients.
The earnings release is available on PINE's IR website at www.pine.com.br/ir. PINE will hold 1Q12 Earnings Conference Calls tomorrow, May 8th, at 11:00 a.m. (US EDT) and 4:00 p.m. (U.K. Time) in English, and at 8:30 a.m. (US EDT) and 1:30 p.m. (U.K. Time) in Portuguese.
For additional information, contact PINE's Investor Relations area:
Phone: (+55 11) 3372-5343
[email protected]
SOURCE PINE
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