1. 4Q11 Results Presentation

2. Disclaimer
This presentation may contain references and statements representing future
expectations, plans of growth and future strategies of BI&P.
These references and statements are based on the Bank’s assumptions and
analysis and reflect the management’s beliefs, according to their experience, to
the economic environment and to predictable market conditions.
As there may be various factors out of the Bank’s control, there may be
significant differences between the real results and the expectations and
declarations herewith eventually anticipated. Those risks and uncertainties
include, but are not limited to our ability to perceive the dimension of the
Brazilian and global economic aspect, banking development, financial market
conditions, competitive, government and technological aspects that may
influence both the operations of BI&P as the market and its products.
Therefore, we recommend the reading of the documents and financial
statements available at the CVM website (www.cvm.gov.br) and at our Investor
Relations page in the internet (www.indusval.com.br/ir) and the making of your
own appraisal.

3. Highlights
Expanded Loan Portfolio grew around 13% in 4Q11 and 31% in 2011:
‒ Corporate: 28% of Loan Portfolio, +47% in the quarter and +150% in the year;
‒ Middle Market: The volume remained steady, despite the significant exit of
lower quality loans. After finishing the exit of non-target credits, Middle Market
portfolio will resume growth, in line with the strategy of loan portfolio balance of
45% of Corporate and 55% and Middle Market loans until the end of 2012.
Latest funding at lower cost due to rating improvement, diversification of funding
product mix and expansion of investors base.
Net Profit increased by 41% in the quarter, accompanied by a slight increase in net
margin and recovery in profitability ratios.
Migration to Level 2 Corporate Governance Segment of BM&FBovespa in final
phase.
In 4Q11 we finished most of the workforce changes and the introduction of new
products, systems and controls defined in the strategic plan. Great emphasis on the
construction of stronger teams and the building of a meritocratic culture focused on
excellence and results.
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4. Evolution of Credit Portfolio
Growth with quality assets
2,534
2,248
2,109
1,941 1,994
R$ million
4Q10 1Q11 2Q11 3Q11 4Q11
Loans in Reais Trade Finance Guarantees
Agricultural Notes (CPRs) Promissory Notes (NPs)
2

5. With Multi-Product Offering
23 created or redesigned financial products
3

6. Credit Portfolio
Breakdown by Product Group
Agro and
Promissory Loans and Discount Operations in
Notes
(CPR/PNs) Reais share remained steady, with
Guarantees 5%
Issued significant growth in the Corporate
6% portfolio.
Other
1%
BNDES Trade Finance portfolio of US$265
8%
Loans & million grew 3,8% in 4Q11, despite
Discounts the foreign lines contraction.
Trade in Reais
Finance 62%
18%
Agricultural Notes (CPRs) portfolio
increased from R$40 million in 3Q11
to R$114 million in 4Q11.
4

7. Credit Portfolio
Maintenance of Corporate and Middle Market balance until the end of 2012
Other
3% Definition:
Corporate
28%
• Middle Market: companies with annual
revenues from R$40 million to R$400 million;
4Q11
• Corporate: companies with annual revenues
above R$400 million up to R$2 billion.
Middle
Market Corporate clients already account for 28% of loan
69%
portfolio with 47% volume growth in the quarter
and 150% in the year.
Other
Corporate 3% Middle Market portfolio volume maintained,
21%
despite substantial exit of lower quality loans.
The previously disclosed strategy of maintaining
3Q11
the Corporate / Middle Market credit portfolio mix
Middle at 45% / 55% until the end of 2012 will continue.
Market
76%
5

8. Credit Portfolio
Exposure by client and terms of transactions
10
Other largest
Concentration
24% 17%
Client
60 largest borrowers account for 49%
of Loan Portfolio, from 51% in 3Q11
11 - 60 and 52% in 4Q10.
61 - 160 32%
27%
Average exposure by client:
• Middle Market = R$ 2.7 million
• Corporate = R$ 7.2 million
+360 days
26%
up 90
days 73% of Loan Portfolio to mature up to
Maturity
40%
360 days.
181 to
360 days
15%
91 to 180
days
19%
6

9. Credit Portfolio
Significant presence of Agribusiness and Food related activities
8%
2% 17% Agribusiness
2%
Food & Beverage
2%
Civil Construction
2%
Automotive
3%
Textile, Apparel and Leather
3% Power Generation & Distribution
Pulp & Paper
3%
Chemical & Pharmaceutical
15%
Financial Services
3%
Transportation & Logistics
Metal industry
3%
Education
Oil & Biofuel
4%
Retail & Wholesale
4% Individuals
14% Advertising and Publishing
4% Financial Institutions
5% Other Industries
6%
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10. Credit Portfolio Quality
89.7%
4Q11
86.9%
3Q11
85.8%
4Q10
AA A B C D-H
Loans rated between D and H include:
– R$ 119 million in normal payment performance = 5.3% of Loan Portfolio;
– R$ 114 million overdue more than 60 days = 5.0% of Loan Portfolio.
Default levels still related to transactions with medium-sized companies booked in previous
years.
Decrease of 1.3 p.p. in the 60 days default rate compared to 3Q11.
Allowance for Loan Losses cover 133% of loans overdue +90 days.
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11. Funding
Ensures liquidity and supports the growth of credit portfolio
2,533
2,420
2,247 2,230
2,031
R$ million
4Q10 1Q11 2Q11 3Q11 4Q11
in Reais in Foreign Currency
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12. Funding
Diversification of sources to reduce costs
Onlendings
9%
Foreign Time
Borrowings Deposits
Local Funding accounts for 82% of total funding.
18% (CDBs)
29% There was a slight reduction in the cost of new local
Interbank funding, due to the:
Deposits
3% − improvement of risk perception among
Demand
Deposits investors, as evident from the three-notch raise
2% in the ratings assigned by Standard & Poor’s
Agro &
Financial Insured Time (BB/stable/brA+);
Notes Deposits
(LCA/LF) (DPGE) − diversification of the product mix (LCAs);
9% 30%
− strong expansion of the investor base.
Trade Finance funding accounts for 90% of foreign
Foreign Funding – US$ million borrowings.
247
Despite the foreign funding remained contracted,
our new funding in foreign currency totaled US$247
195 million in Dec/2011 from US$196 million in
Dec/2010, up 26.6% in the year.
4Q10 4Q11
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13. Liquidity and Asset & Liability Management
Free Cash Asset & Liability Management
Assets Liabilities
1,027 1,087
923 914 887 959
733
642 620
474
415
335
R$ million
R$ million
253
4Q10 1Q11 2Q11 3Q11 4Q11 90 days 180 days 360 days +360 days
Free Cash equivalent to 48% of Deposits
and
154% of Shareholder’s Equity.
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14. Profitability
Net Interest Margin
NIM NIM(a)
7.9%
6.5% 6.3% 6.6%
5.9%
5.2% 4.8%
4.6% 4.6%
3.7%
4Q10 1Q11 2Q11 3Q11 4Q11
Net Interest Margin 4Q11 3Q11 4Q11/3Q11 4Q10 4Q11/4Q10 2011 2010 2011/2010
A. Result from Financial Int. before ALL 49.3 45.0 9.5% 47.6 3.6% 170.6 190.2 -10.3%
B. Average Interest bearing Assets 4,205.8 3,971.7 5.9% 3,036,4 38.5% 3,961.2 2,869.3 38.1%
Adjustment for non-remunerated average Assets1 (1,139.7) (1,058.9) 7.6% (561.5) 103.0% (1,071.3) (546.7) 96.0%
B.a Adjusted Average Interest bearing Assets 3,066.1 2,912.8 5.3% 2,474.9 23.9% 2,889.9 2,322.6 24.4%
Net Interest Margin (NIM) (A/B) 4.8% 4.6% 0.2 p.p. 6.4% -1.6 p.p. 4.2% 13.7% -9.5 p.p.
Adusted Net Interest Margin (NIMa) (A/Ba) 6.6% 6.3% 0.3 p.p. 7.9% -1.3 p.p. 5.7% 864% -2.7 p.p.
1
Repos with amounts, maturities and rates equivalent both in assets and liabilities.
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15. Efficiency Ratio
79% 79%
78%
73% 74%
71%
65% 67%
61% 63%
4Q10 1Q11 2Q11 3Q11 4Q11
Efficiency Ratio Standardized Efficiency Ratio
Standardized Efficiency Ratio includes management adjustments in order to:
– eliminate non-recurring revenues and expenses related to the corporate and
organizational restructuring;
– standardize 4Q11 events related to the collective bargaining agreement paid in the
quarter retroactively to September and the Executive Officers’ variable compensation
not provisioned during the year; and
– exclude sales revenues and costs of agricultural commodities from the activity of the
acquired subsidiary of Sertrading to determine the efficiency ratio of the financial
activity.
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16. Human Resources
Increase in headcount, from 385 employees in 3Q11 to 421 professionals in 4T11,
including:
– Hiring of 10 trainees;
– Hiring of 10 former interns.
No significant increase of headcount in 2012 is expected.
Focus on renovating and training the teams.
Leadership training, personnel management and best practices in human resources.
360º Performance Evaluation with forced curve in order to identify and reward the
best performances.
3rd Trainee Program: 3,500 candidates, from which 10 trainees were hired.
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17. Profitability
Net Profit - R$ million
Net Profit increased 40.7% in 4Q11 due to
the loan portfolio growth, the local funding
10,3 cost reduction and the credit recovery
5,9 5,1 7,3
observed in the quarter.
4Q10 1Q11 2Q11 3Q11 4Q11 2011 result was mainly affected by the
increase in allowance for loan losses, with
expense of R$101.6 million in 1Q11.
Return on Average Equity (ROAE) - % Return on Average Assets (ROAA) - %
7,3
1,0
5,6 5,2 0,7 0,7
3,6 0,5
4Q10 1Q11 2Q11 3Q11 4Q11
4Q10 1Q11 2Q11 3Q11 4Q11
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18. Capital Structure
Shareholder’s Equity – R$ million Leverage
Credit Portfolio / Shareholder’s Equity
564 567 578 577
426 4,6 4,4
3,7 3,9
3,5
4Q10 1Q11 2Q11 3Q11 4Q11
4Q10 1Q11 2Q11 3Q11 4Q11
Basel Index (Tier I)
High capitalization index.
23.7%
21.6% 21.1%
17.6% 18.2% Low leverage allows healthy portfolio growth.
Discipline in monitoring the strategy and the
business goals for improved efficiency,
margins and profitability.
4Q10 1Q11 2Q11 3Q11 4Q11
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19. Capital Distribution and Shareholder Remuneration
Controlling
Group
34%
Individuals
20%
Management
1%
Treasury
1%
Institutional
Investors
Foreign 14%
Investors
30%
Position as of 12.31.2011
2008 2009 2010 2011
Outstanding Shares 1 43,000,001 42,048,101 40,466,187 62,358,840
IOE gross amount (R$ million) 25.5 27.0 25.1 27.8
IOE gross amount per Share (R$) 0.59 0.64 0.61 0.53
Price to Book Value per Share 0.38 0.81 0.75 0.73
Market Value (R$ million) 171.6 348.6 321.7 420.9
1 Issued Shares - Treasury Shares
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20. Ratings
Agency Classification Last Report
Global Scale: BB/ Stable/ B
Standard & Poors Dec. 2011
Local Scale: brA+/ Stable/ brA-1
Global: Ba3/ Stable/ Not Prime
Moody’s Nov. 2011
Local Scale: A2.br/ Stable/ BR-2
FitchRatings Local Scale: BBB/ Stable/ F3 Dec. 2011
Index: 10.08
RiskBank Jan. 2012
Low Risk to Short Term
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