SAO PAULO, July 26, 2011 /PRNewswire/ --
2Q11 Highlights
- Net Income of R$ 75.2 million, representing substantial growth of 72.9% over the previous quarter;
- ROAE reached 17.6%, an increase of 7.5 p.p. compared to the previous quarter and the NIM-AR (1) was 12.3 % in 2Q11, a 1.4 p.p. increase compared to the previous quarter;
- Total funding reached R$ 6,712.9, up 13.5% during the quarter;
- The balance of the Expanded Credit Portfolio (2) increased 7.1% during the quarter, closing 2Q11 at R$ 7,066.9 million;
- Reduction in the Provision Expenses of 22.3 % over 1Q11;
- Beginning of coverage by Moody's agency with the awarding of an investment grade rating for our institution;
- Efficiency Ratio remains at an adequate level, registering 27.9%, which proves the adequate management of our operating costs;
- Basel Ratio of 18.4%, an increase of 0.4 p.p. for the quarter.
(1) New methodology includes exchange-rate variations on passive operations and excludes the result of property protection operations, DAYC4 swaps, portfolio transfers to other banks and matched operations - repurchase agreements-tri-party repos outstanding
(2) Includes assignments, sureties and avals granted and the purchase of credit rights.
2Q11 Conference Call (only in Portuguese and Q&A in English):
July, 27
3:00 PM (BR) (2:00 PM US EST) Conference Call in Portuguese
3:45 (PM) (BR) (2:45 PM US EST) Q&A in English
Other Countries/Dial In USA: (+55) 11 4688 6361*
Code: Banco Daycoval
About Banco Daycoval
Banco Daycoval S.A. is a financial institution that specializes in the middle market segment and has significant activity in the retail business. Established in 1968, headquartered in SaoPaulo, currently it has more than 100 points of Sale, 31branches, exchange bureaus and retails stores. In the second quarter 2011, its total assets reached R$ 11.0 billion, with credit portfolio of R$ 7.1 billion and net income of R$ 75.2 million. Daycoval pursues a conservative strategy and stands out for high liquidity and low leveraging, as evidenced by its Basel II Ratio of 18.4% in June 2011.
- For complete earnings release access website: www.daycoval.com.br/ri (English).
CONTACT:
Investor Relations
+011-55-11-3138-1025
SOURCE Banco Daycoval S.A.
