CURITIBA, Brazil, Jan. 21 /PRNewswire/ -- Parana Banco (Bovespa: PRBC4), a private multiple bank focused on payroll-deductible loans and the middle- market segment, announces today its results for the fourth quarter of 2007 (4Q07). Adjusted Net Income reached R$113.5 million in 2007, excluding IPO expenses and including deferred commissions booked directly under shareholders' equity. This result is 117.7% higher compared to 2006. In the fourth quarter, net income was R$ 36.1 million, 169% higher than in the same quarter of 2006.
Total loan portfolio on December 31 was R$1.2 billion, 88.1% up on the R$623.2 million recorded at the close of 2006. At the end of 2007, Parana Banco had 715 agreements for payroll-deduction loans.
Origination of total loan operations reached R$ 1.01 billion in 2007. Origination of payroll-deduction loans came to R$ 873.7 million, 40% up on the R$ 624.9 million reported in 2006. The Bank also acquired credits totaling R$ 76.4 million from other institutions throughout the year.
Franchises -- Created in march 2007, the Franchise Channel achieved a consolidated status as one of the main distribution channels of Parana Banco -- in addition to the traditional broker channel -- and reached the mark of 60 units in operation at the end of 2007. The channel was already responsible for 14% of Payroll Loan origination in the fourth quarter. The goal for 2008 is to reach 210 units in operation.
Insurance Company -- On January 15, 2008, the incorporation of 100% of J. Malucelli Seguradora by Parana Banco was concluded, as described in the IPO prospectus and disclosed to the market on January 7, 2008.
J. Malucelli Seguradora is the absolute leader in the Surety Bond segment in Brazil with 50% market share, according to SUSEP (Brazil's private insurance overseer).
Parana Banco will hold a Conference Call to discuss the Fourth Quarter results on January 23rd. For additional information, please contact the Investor Relations staff at
