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September/2008
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• A Wholesale Bank focused on small and medium size companies (“SME’s”), or with selected large corporations mainly to support their activities involving SME’s.
• Tailor made & sophisticated products, usually offered only to large companies.
• Main activities include:
Treasury:
CDs, Government and Private Securities, Foreign Exchange, Derivatives, Interbank Transactions.
Corporate Banking:
Local Currency Loans, Guarantees, Performance Bonds, Trade Finance (Pre Export, Import Financing, Pre-Payment, LCs, SBLCs), BNDES Onlending.
Structured Finance & Capital Markets:
Debt & Equity Capital Raising Advisory, Debt Capital Markets (FIDC, CRI, CCB), M&A.
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BPN Brasil is present in the main
Brazilian States through a network of
correspondent bankers, under Central
Bank’s Resolution 3.110.
Business Network
115 agências no Norte
88 agências no Centro/Sul
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Banco Africano de Investimentos - BAI
Credit Portfolio(In thousands of Reais)*
WholesaleRetail
Tier I & Tier II Capital(In thousands of Reais)
Funding(In thousands of Reais)
ForeignDepositsOthers
*(It includes: banking guarantees, letters of credit and credit assignments)
Dec/2005 Dec/2006 Dec/2007 Jun/2008 Dec/2005 Dec/2006 Dec/2007 Jun/2008
Subordinated DebtShareholder´s Equity
Dec/2005 Dec/2006 Dec/2007 Jun/2008
36,3% 20,5% 12,4% 14,3%
BIS
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Banco Africano de Investimentos - BAI
Balance Sheet(In thousands of Reais)
ASSETS 30/06/2008 31/12/2007 31/12/2006
Current Assets and long term receivables 408.825 383.229 221.917
Funds Available 21.585 1.843 9.806
Interbank Deposits 57.355 89.721 64.642
Marketable Securities and derivative financial instruments 7.414 6.216 2.962
Interbank Accounts (Brazilian Central Bank Deposits) 1.388 1.192 585
Loans 221.881 201.883 98.253
Foreign Exchange Portfolio 70.073 63.822 33.594
Other Loans 23.221 14.624 9.738
Other Assets 5.908 3.928 2.337
Permanent Assets 3.286 1.825 2.180
Total Assets 412.111 385.054 224.097
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Banco Africano de Investimentos - BAI
Balance Sheet(In thousands of Reais)
LIABILITIES 30/06/2008 31/12/2007 31/12/2006
Current and long-term liabilities 355.655 329.831 174.333
ST & LT Deposits 76.044 66.562 51.913
Interbank deposits 3.732 19.842 14.884
Foreign borrowings 166.665 152.957 72.214
BNDES/FINAME 46.323 33.478 11.609
Derivative financial instruments 9.026 3.363 1.107
Foreign exchange 25.654 31.648 9.160
Other liabilities 28.211 21.981 13.446
Defered Income 1.135 2.164 2.283
Stockholders' equity 55.321 53.059 47.481
Capital - domiciled abroad 50.000 50.000 50.000
Capital increase 2.416 - -
Capital reserves 409 294 -
Revenue reserves 457 349 78
Retained earnings (accumulated deficit) 2.039 2.416 (2.597)
Total liabilities and stockholders' equity 412.111 385.054 224.097
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Banco Africano de Investimentos - BAI
Income Statement(In thousands of Reais)
Rating
Long Term: AA- (bra)
Rating
Long Term: brBBB+
Rating
Low risk for the short term
30/06/2008 31/12/2007 31/12/2006
Income from financial operations 28.853 61.239 36.425
Expenses on financial operations (19.407) (36.695) (23.262)
Gross profit on financial intermediation 9.446 24.544 13.163
Other operating income (expenses) (6.529) (16.132) (15.418)
Operating result 2.917 8.412 (2.255)
Non-operating result 52 - 320
Result before taxation and profit sharing 2.969 8.412 (1.935)
Income tax and social contribution (598) (2.873) 165
Statutory sharing profit (225) (113) (7)
Net income (loss) 2.146 5.426 (1.777)
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Dear Sir,
The Board of Directors of BPN - Banco Português de Negócios, S.A. (“BPN”), a Financial Institution ruled by the Portuguese Legislation, declares that it is the intention of the Bank to promote the activities of its subsidiary in Brazil, BPN Brasil Banco Múltiplo S.A. (“BPN Brasil”), a financial institution, created under the legislation of the Federative Republic of Brazil.
With this in mind, BPN is pleased to confirm that:
1. It controls and holds the majority of the capital of BPN Brasil through its subsidiary BPN Participações Financeiras SGPS, Ltda.;
2. It appoints the Executive Board of the bank in Brazil, and that this Executive Board acts following the business purposes of BPN; and that
3. BPN Brasil will always be able to fulfill integrally and promptly all legally assumed obligations, except those related to political risk and/or to any restriction on the transfer of funds, legally imposed.
Very Best Regards,
Lisbon, 24th June 2008
Banco Africano de Investimentos - BAI
Comfort Letter
Manuel Meira Fernandes Miguel Cadilhe
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Ownership Structure
Holding
BPN Participações Financeiras SGPS, SA.
BPN Participações Brasil Ltda
BPN Brasil Banco Múltiplo
S.A.
Brazil
BPN S.A.
Financial Holding
80% 20%
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• Universal Bank founded in 1998, has 205 branches in Portugal and 5 in France
• In June 2008, the board of directors appointed Dr. Miguel Cadilhe as the new Chairman and CEO. From 1985 to 1990, Dr. Cadilhe was the Minister of Finance in Portugal, and was also in charge, as president, of Agência Portuguesa de Investimento. The first measure under his management was to propose a capital increase in the amount of € 300 million, raising BPN Portugal equity to € 770 million. The new measure has been approved by the end of June.
Financial Information Rating
Agency Long-Term Short-Term Outlook
FitchRatings BBB F3 StableMoody's Baa3 P - 3 Stable
thousand €
dec/2007Net Result 56.100Net Assets 8.022.746Total Deposits 4.786.680ROAE 14,1%
Banco Português de Negócios
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Banco Africano de Investimentos
Banco Africano de Investimentos - BAI
• First private Angolan bank, founded in November 1996, has 42 branches, over
120.000 customers and US$ 227,3 million in equity.• In Oct/2004, NOSSA – Nova Sociedade de Seguros de Angola was created through
a partnership between BAI, BPN Group and IFC (International Finance Corporation).
Financial Information
Main shareholder:
• Largest company in Angola, is focused in research, exploration and production of oil and gas both in Angola’s soil and off its Atlantic coast. It has subsidiaries in areas that are strategic to the fulfillment of the company’s goals such as Civil Aviation, Maritime Transportation and Logistics. Sonangol is also a shareholder in companies not directly related to the oil industry such as Banking, Food Retail and Catering, and Civil Engineering.
thousand USD
dec/2007Net Result 78.106Net Assets 3.649.876Total Deposits 2.825.594ROE 41,9%
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Relevant Transactions - Funding
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Relevant Transactions
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Operations TreasuryCommercial
BankingCredit
Structured Finance &
Cap. Markets
Corporate Products
Executive Committee
CEO
Carlos H. A. R. Catraio
Roberto Perez Jr.Director
Hirosi TanaharaDirector
Rodrigo Del BarrioDirector
Joaquim PradoSuperintendent
Rubens PradoSuperintendent
Luiz StouthandelDirector
Functional Organization Chart
• CDs
• Governments and
Private Securities
• Financial Institutions
• FX Desk
• Derivatives
• Interbank
Transactions
• Local Correspondent
Bankers Network
• Local & Foreign
Assets Origination
• Debt & Equity
Capital Raising
Advisory
• Debt Capital Markets
• M&A
• Export / Import
Finance
• ECAs
• PROEX
• BNDES
• Correspondent
Banking
• Foreign Exchange
• Financial Control
• Back Office
• Accounting
• Legal
• Compliance
• Human Resources
• Risks
• Loan Portfolio
• Asset Recovery
Management
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Carlos H. A. R. Catraio – President & CEOSince Feb/06
Born in 1958, Portuguese, with equal rights in Brazil. Graduated in Business Administration at Federal University of Rio de Janeiro-UFRJ, Advanced Management (AMP) from INSEAD–France and holds ANBID CPA 20 certification.
Started his banking career in the Credit Area of Chase Manhattan (Rio de Janeiro-Brazil) in 1983. Worked at Bank of America–Brazil from 1987 to 1997, responsible for financial institutions and debt capital raising.
From 1997 to 2005, worked at Unibanco S.A. as a Director responsible for areas such as: Financial Institutions, International, Trade Finance and Credit.
Ex-Member of the Executive Committee of Unibanco’s Wholesale Bank and Executive Director of Interbanco S.A. (Paraguay) and CIFI – Corporación Inter-Americana para el Financiamiento de Infraestructura (Washington DC).
Senior Management Team
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Luiz Alberto Fortuna Stouthandel – Director – Operations and ControlSince Dec/06
Born in 1960, Brazilian, Graduated in Business Administration from Faculdade Ítalo Brasileira, has a MBA in finance from USP and holds an ANBID CPA 20 certification.He has a wide experience in the financial market, having worked for 26 years for relevant Brazilian financial institutions, such as Itaú, Unibanco and ABC Brasil.
Roberto Perez Jr. – Director – Structured Finance & Capital MarketsSince Apr/06
Born in 1961 in Manila, Philippines. Brazilian permanent resident since 1982. BS degree in Business Administration from Bennett College Rio de Janeiro, post-graduated in finance at Fundação Getulio Vargas - FGV Rio de Janeiro & MBA in Finance at IBMEC Business School SP. Holds ANBID CPA 20 certification. Started as Trainee at Bank of America in 1985. Worked in different business areas and was responsible for the Structured Finance/Syndicated Credits from 1992 to 1995 and Vice-President of the Corporate Banking Group from 1995 to 1998. Between 1998-2002, was Principal of Bank of America Brazil Investment Banking Group. Worked on several financial advisory mandates & various domestic and international capital raising transactions totaling over US$5 billion. Worked as Financial & Risk Management Consultant during the period 2003-2004. Joined HSBC as Senior Manager of Wealth Management Group (2005-April 2006).
Senior Management Team
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Rodrigo Del Barrio – Director – TreasurySince Apr/03
Brazilian, born in 1969, studied Economics at Falculdade de Economia e Admisnistração USP - SP, has MBA in finance from Ibmec Business School SP and holds an ANBID CPA 20 certification. In 1990, started in the financial market at BFB – Banco Francês e Brasileiro, working in the Foreign Exchange. From 1995 to 2003 worked at Bank of America Brazil on the FX and Derivatives desks. As VP at Bank of America, was also responsible for structuring the Institutional Sales Area.Rodrigo was appointed head of BPN Brasil Treasury in Nov/06 and director in Nov/07.
Hirosi Tanahara – Director – Corporate ProductsSince Apr/06
Brazilian, born in 1954, graduated in Business Administration with emphasis in Foreign Trade from Faculdade Tibiriçá. Initiated his career in financial market at BMG – Banco de Minas Gerais S.A. in 1970 in the Foreign Exchange Department. BMG was acquired by Banco Real in 1974. At Banco Real he occupied the position of Manager in charge of the FX Desk and General Manager of the Foreign Trade Department. In 1986, as a Director of Banco BNL do Brasil S.A., a subsidiary of Banca Nazionale del Lavoro, Italy, he implemented and developed the International Area activities (Foreign Trade, FX and Correspondent Banking). He was also responsible for the Development of Corporate Products and BNDES onlending. He worked at BNL Brasil from opening until the acquisition by Unibanco in December 2004.
Senior Management Team
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Joaquim Prado – Superintendent – Corporate BankingSince Sep/03
Brazilian, born in 1960. Graduated in Economics from Unicamp and holds an ANBID CPA 20 certification. Started his career in 1982 with Banco Bandeirantes and BMC. Represented The Philadelphia National Bank in Brazil from 1988 to 1990 and later became a Relationship Manager for Bankers Trust Brazil and Credibanco. He worked as Director of Structured Transactions at Inter American Express Bank until the end of 2001. In 2002 moved to Deutsche Bank as Corporate Finance Director.Since Feb/06 became responsible for implementing BPN’s network of correspondent bankers in several Brazilian cities.
Rubens Prado – Superintendent – Credit Since Oct/03
Brazilian, born in 1958, graduated in Economics from Faculdade de Economia São Luiz. He worked for Crefisul Bank from 1983 to 1993 as Senior Risk Analyst and Economics-Financial Assistance. From 1993 to 2003, he worked for Bank Boston as Credit Manager.In Feb/06, was appointed head of BPN Brasil Credit Department.
Senior Management Team
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Contacts:
Structured Finance & Cap. MarketsRoberto Perez Jr.
[email protected](55 11) 3094-9005
Corporate ProductsHirosi Tanahara
[email protected](55 11) 3094-9045
Correspondent BankingAngelina Falcão
[email protected](55 11) 3094-9068
TreasuryRodrigo Del Barrio
[email protected](55 11) 3094-9012
Commercial BankingJoaquim Prado
[email protected](55 11) 3094-9008
Websitewww.bpnbrasil.com.br
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Social Responsibility
BPN Brasil supports the following non-profit organizations and initiatives:
GRAACC – Grupo de Apoio ao Adolescente e à Criança com Câncer – São Paulo - SPIt is a non-profit organization created to guarantee that children and teenagers with cancer, can have their treatment with quality of life, as well as within the most advanced scientific methods.
Obra Social Dom Bosco – Itaquera - SPLocated in one of the poorest regions of São Paulo, this center is open for children from 6 years onwards, teenagers and adults of both sexes in mornings and afternoons, with the aim of re-integrating people into the community through their biopsychic social training.
Projeto Show de Bola – Itapipoca - CELocated in a small city of Ceára State in the Northeast of Brazil, the aim of the project is to give children and teenagers the opportunity of practicing different types of sports to strengthen their self-confidence and their relationship with other people.
EndeavorA non-profit organization with the mission of promoting Brazil´s sustainability development by supporting innovative entrepreneurs and stimulating the entrepreneurship culture, so as to generate jobs and income.
Instituto Profissionalizante PaulistaFounded in May 2004 by the Rotary Club São Paulo, the project's aim is to select, prepare and qualify youngsters from 14 to 22 years of age to enter the job market and successfully develop a career.
Global Compact – United NationsThe UN Global Compact is a framework for businesses that are committed to aligning their operations and strategies with ten universally accepted principles in the areas of human rights, labour, the environment and anti-corruption.