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1
Banco Itaú S.A.Conference Call
2nd Quarter of 2002
2
Income StatementR$ Million
(Except where shown)
Total Assets
1st Q./02
1,831
(431)
996
(1,633)
504
-
504
79,913
Var. (%)
11.4
18.8
0.8
6.2
12.5
-
7.9
2nd Q./02
2,040
(512)
1,004
(1,734)
567
(23)
544
87,022
Financial Margin
Provisions for Loan Losses
Service Fee Income
Administrative Expenses
Recurrent Income
Extraordinary Results
Net Income
3
Credit Operations
14,05816,890
23,67416,077
19,596
27,253
29,615
14,414
16,916
34,282
1997 1998 1999 2000 2001
34,839
30,158
2002*
(*) In June 30, 2002
R$ Million
Credit Operations Credit Operations and Guarantees
4
Credit Portfolio by Currency (*)
Indexed in Foreign Currency In Foreign CurrencySubtotal
In Local Currency Total
Jun 30, 02
3,193 5,241
8,434
21,724
30,158
(*) Not including Endorsements and Sureties
Mar 31, 02
2,611 3,636
6,246
21,819
28,066
Dec 31, 01Variation
Jun/02 – Mar/02
22.3 % 44.1 %
35.0 %
-0.4 %
7.5 %
VariationJun/02 – Dec/01
R$ Million
3,093 4,203
7,296
22,319
29,615
3.2 % 24.7 %
15.6 %
-2.7 %
1.8 %
5
Credit Operations – June 2002
AA – A
B - D
E - H
Total
RiskLevels
0.5%
2.7%
67.7%
0.2%
2.1%
56.4%
13.7% 3.1%
Individuals Companies
Coverage
14
193
1,441
27
95
427
1,648 548
Provision BalanceIndividuals Companies
2,765
7,193
2,128
12,731
4,584
757
12,086 18,072
PortfolioIndividuals Companies
R$ Million
6
164%
Jun/02
190%
Mar/01
189%
Jun/01
186%
Sep/01
173%
Dec/01
168%
Mar/02
9.9311.1011.62 12.67
1.501.21 1.55 1.73
5.665.014.394.254.214.45
5.90
0.0
2.4
4.8
7.2
9.6
12.0
14.4
Jun/02Mar/01 Jun/01 Sep/01 Dec/01 Mar/02Dec/00
Non Accrual and Coverage Ratios
Coverage Ratio (*)Coverage Ratio (*)
Total Non Accrual
Individuals Non Accrual
Companies Non Accrual
(*) Provision for Loan Losses / Non Accrual
Non Accrual Ratio %Non Accrual Ratio %
7
Securities
Constituted Provision to Market Value
(145)
-
-
(320)
(119)-
(26)(320)
(465)
Market Value
9,232 46%
10,522 51%
131 1%
528 3%
11,131 55%714 3%
8,042 39%528 3%
20,415 100%
Securities Trading
Securities Available for Sale
Securities Held up to their Maturity
Derivative Financial Instruments
Public Securities - Brazil Public Securities – Other Countries Private Securities Derivative Financial Instruments
Total
Constituted Provision to Market Value
In Equity
-
(609)
-
-
(533)23
(99)-
(609)
Cost
9,378
11,131
131
849
11,778692
8,170849
21,489
Minimum Allowance Required (1,074)Additional Allowance Reclassification 550Additional Allowance (1,147)
8
Funding and Fund Management
R$ Million
Dec 31, 01(C)
Jun 30, 02(A)
Mar 31, 02(B)
Evolution %(A/C)
Evolution %(A/B)
27,817
7,04716,171
4,59955,796
49,7116,085
83,613
28,105
6,35616,019
5,75056,243
49,8196,424
84,348
Deposits
Demand Deposits Savings Deposits Time DepositsManaged Funds
Investment Funds Managed Portfolio
Total Funds
1.0
(9.8)(0.9)24.6
0.8
0.25.6
0.9
26,474
5,98115,636
4,85757,274
51,2606,014
83,748
6.2
6.32.4
18.0(1.8)
(2.8)6.8
0.7
9
1st Q./02
(9) 1
(8)
(135)
(144)
Foreign Exchange Variation on Investments AbroadEffect Foreign Exchange Risk Management on Investments AbroadResults Abroad
Funding Expenses (CDI) Results derived from Investments Abroad
2nd Q./02
913 (93)
820
(128)
692
Investments Abroad
Foreign Exchange Variation onInvestments Abroad - Considering the Funding Cost
R$ Million
1st Q./02
(144) -
- -
-(7)
-(14)
(165)
Results of Investments Abroad Reversal/(Constitution) of Valuation Allowance – Sudameris Operation Reversal/(Constitution) of Valuation Allowance – AOLAReversal/(Constitution) of Valuation Allowance – Market VolatilityMarked to Market - SwapIncome from Trade Finance and Foreign Exchange PortfolioFinancial Margin of Local Operations affected by Exchange RateOtherResult affected by Exchange Rate
2nd Q./02
692 (608)
(260) (130)
(95)374142
30 145
10
AOLA
• On Jun/00 a strategic alliance with America Online Latin America Inc. (AOLA) was established for acquiring 12% of AOLA capital in exchange for providing interactive and marketing services. • The acquisition of shares did not imply a monetary disbursement, once a payment related to the service rendering agreement was received at the time of the subscription, at an equal amount. •In this quarter, taking into account the volatility affecting the US Market, an allowance totaling R$ 260,000 was formed so that the net assets related to the strategic alliance be at the most equal to its market value.
Cost of Shares Portfolio (35.938 thousand shares)Value of the Service Rendering AgreementSubtotal
Allowance Constituted Net Asset
R$ Million
701 (377)
324
(260)
64
Market Value of the Shares: 35,938 (Number. of shares) x US$ 0.64 (Market Price - 06/28/02) x 2.8444 (R$/US$) 65
11
R$ Million
1st Q./02
717
916
10333
22644
11250
13365
150
1,633
2nd Q./02
800
934
10832
20447
10183
13569
155
1,734
Personnel Expenses
Other Administrative Expenses
Premises Materials Data Processing and Telecom Transportation Third Party Services Marketing Depreciation and Amortization Financial System Services Other
Total
Variation
83
18
5(1)
(22)3
(11)33
245
101
1,518 1,493 Total without Dismissals/Labor Suits 25
(216) (140) (-) Dismissals/Labor Suits (76)
55.0 % 55.4 % Efficiency Ratio
Administrative Expenses