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Annual Report 2015

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Business Performance

Despite the unfavorable macroeconomic scenario, our Conglomerate had a positive result during the year, reaching a net profit 28% above 2014

In 2015, the main characteristic of the macroeconomic scenario was the disparity between the main global economies evolution, which grew much less than expected in the beginning of the year. The momentum in the United States made the Federal Reserve increase the basic interest rate between 0.25% and 0.50% per year – when such index was maintained between 0% and 0.25% since December, 2008. In Europe, the European Central Bank incentives have been heating economies. The situation is different in emerging markets: uncertainties as to China’s economy deceleration led to a drop in commodities prices, which caused an impact specially in Latin America.

In Brazil, fiscal and monetary adjustments had a negative impact on the economic activity, with a slowdown in the labor market, decreased agents confidence, high inventory levels and deceleration in the credit market. Even though, deflation remained high above the center of the goal. With this, Bacen continued the Selic rate adjustment cycle throughout the year, establishing it at 14.25% per year.

The unfavorable scenario did not prevent our Conglomerate from having a positive result during the year. We achieved a net profit of 14.4 million, 28% above 2014 and the adjusted net profit – which excludes the effects of extraordinary items – achieved R$11.5 billion in the year, 2.2% above the previous year. Cateno operation, which gave Cielo the management of Ourocard credit and debit cards summed R$3.2 million in the net profit for the period.

Business diversification and expenses control were one of the measures that enabled the positive performance. Efficient management enabled the efficiency rate to achieve 40.8% and administrative expenses remained within Guidance 2015 and below deflation for the period, growing 6.9%. The gross financial margin, which increased 13.3%, had a good performance due to increased credit operations of the portfolio repricing process started in 2014, among other factors.

GDP Growth in the Year (%)
Average Unemployment Rate (% of the Economically-Active Population)

Total Brazilian Banking Industry Credit
Total Delinquencies (+ 90 days)

Macroeconomic Indicators (%)

2015 Highlights

GRI G4-13

Agribusiness | The segment represented 21.5% of the entire Bank portfolio in the period and its delinquencies index remained low. Find out more clicking here.

Cards | Cateno’s creation, which allowed for greater use of cards as a payment mean and further safety in banking operations. Find out more clicking here.

Trade Finance | Launching of BB Comex strategy. Find out more clicking here.

Capital Markets and Treasury | 2nd place in the consolidated origination ranking with 24.5% market share. Find out more clicking here.

Insurances, Pension Fund and Saving Bonds | Leadership in total revenues in the segments it operates. Find out more clicking here.

GUIDANCE – Indicators (%) Estimate of 2015 2015 Results Estimate of 2016 (1)
Adjusted ROE (2) 13-16 13.0 11-14
Gross Financial Margin 11-15 13.3 7-11
Loan Portfolio Broad Definition – Country (3) 7-11 5.9 3-6
6-10 7.5 5-8
5-9 5.0 1-4
10-14 6.1 6-9
Allowance for Loans and Lease Losses (ALLL) (4) 3.1-3.5 3.6 3.7-4.1
Fee Income 7-10 9.2 7-11
Administrative Expenses 5-8 6.9 5-8

(1) Prepared from assumptions shown in the 4Q15 Performance Analysis Report, available at                                        
(2) The calculation for Adjusted ROE for 2015 takes into account the Adjusted Net Equity, free of effects: (i) update of assets and actuarial liabilities arising from the Deliberation of the Brazilian Securities Commission CVM/695; and (ii) minority interests in subsidiaries.
(3) Includes Classified Loan Portfolio Broad in the Country, private securities and guarantees given.
(4) Expenses with ALLL in the past 12 months/Average Classified Loan Portfolio for the same period.                                   

Consolidated Results

Adjusted Net Income and Return on Shareholders’ Equity (ROE) | Adjusted net income, which excludes the effects of extraordinary items reached R$11.5 billion in the year, 2.2% above 2014. ROE adjusted for the period was 13% per year. The result obtained in 2015 was influenced by Caetano operation, which generated a positive result of R$3.2 billion in the net profit for the period.

Income Statement with Reallocations – Main Lines (R$ million) 2013 2014 2015 15/14
Variation (%)
Financial Intermediation Income 113,636 136,842 188,644 37.9
Loan Operations + Leasing 74,593 86,680 110,848 27.9
Income from Operations with Titles and Securities (TVM) 29,970 42,162 61,330 45.5
Financial Intermediation Expenses -67,584 -91,136 -136,428 49.7
Gross Financial Margin 46,052 50,346 57,050 13.3
Allowance for Loans and Lease Losses -15,584 -18,531 -25,266 36.3
Net Financial Margin 30,468 31,815 31,784 -0.1
Fee Income 23,301 24,647 26,925 9.2
Income from Insurance, Pension Plan and Saving Bonds 3,230 4,630 4,941 6.7
Contribution Margin 52,530 56,205 58,278 3.7
Administrative Expenses
-30,149 -32,290 -34,508 6.9
Personnel Expenses
-17,051 -18,445 -20,333 10.2
Other Administrative Expenses
-13,098 -13,845 -14,174 2.4
Commercial Income 22,020 23,497 23,217 -1.2
Legal Claims -459 -944 -1,157 22.6
Labor Lawsuits -1,148 -833 -1,174 40.9
Other Components of the Result -3,869 -3,337 -2,636 -21.0
Income before Taxes on Profit 16,712 18,583 18,239 -1.9
Income and Social Contribution Taxes -3,954 -4,187 -2,980 -28.8
Statutory Profit Sharing -1,565 -1,644 -1,943 18.2
Adjusted Net Income 10,353 11,343 11,594 2.2
(+) One-Off Items 5,405 -97 2,805
Net Income 15,758 11,246 14,400 28.0

The net profit per share went from R$4.01, in 2014, to R$5.05, in 2015. the shareholders received R$5.7 billion

Shareholder remuneration | The net income per share was R$5.05 in 2015. Maintaining the practice of paying out 40% of net income, R$5.7 billion was allocated to shareholder remuneration for the year: R$4.44 billion as Interest on Own Capital (JCP) and R$1.3 billion as dividends.

Balance Sheet Items | Our assets achieved R$1.6 trillion in December, 2015, growth of 10.2% over 2014. Loan transactions, securities and short-term interbank investments accounted for 80.3% of the total in December, 2015. Commercial funding accounted for 42.4% of total liabilities.

Shareholder Remuneration

Main Balance Sheet Items (R$ million) 2013 2014 2015 15/14 Variation (%)
Total Assets 1,303,915 1,437,486 1,584,039 10.2
Loan Portfolio Broad Definition (1) 693,104 761,952 814,783 6.9
Loan Portfolio Broad Definition – Country
635,282 698,728 739,867 5.9
Securities 201,939 222,643 262,874 18.1
Interbank Investments 231,132 304,237 358,461 17.8
Commercial Funding 607,215 634,627 672,180 5.9
Total Deposits
491,013 468,362 465,318 -0.6
Demand Deposits
75,818 74,210 66,452 -10.5
Savings Deposits
140,728 148,699 151,845 2.1
Interbank Deposits
27,155 30,969 42,449 37.1
Time Deposits
247,311 214,484 204,572 -4.6
Judicial Deposits
101,769 115,010 113,652 -1.2
Agribusiness Letter of Credit  (LCA) + Mortgage Bonds (LCI)
82,640 118,110 154,728 31.0
Repurchase Agreement with Private Securities 33,562 48,155 52,134 8.3
Money Market Borrowing 239,465 306,046 347,476 13.5
Shareholders’ Equity 72,225 80,613 81,536 1.1

(1) Includes Private Securities and guarantees given.

Loan Portfolio and Delinquency | The loan portfolio – broad definition reached R$814.8 billion in December, 2015, growth of 6.9% in relation to the end of 2014. Considering the internal classified portfolio, which takes into account transactions made in the Country and excludes businesses with private securities, our share remained market leader with 20.9%. The average risk historic evolution (relation between the required provision balance and total classified portfolio) remained well below the Brazilian Banking Industry (SFN).

Breakdown of the Loan Portfolio Broad Definition
(R$ billion) (1)

(1) Includes Private Securities and guarantees given.

BB Market Share (%) (1)

(1) Market share of the Classified Loan Portfolio in Brazil.

NPL+90 days of the Classified Loan Portfolio

Gross Financial Margin (MFB) | In 2015, MFB totaled R$57 billion, 13.3% above 2014. Among the factors in the performance of this indicator, notable was the repricing of the credit portfolio started in 2014 and increased funding volume with lower funding cost. Increase in treasury income was balanced by the average increase in daily balances and rate growth.

Breakdown of MFB (R$ million) 2013 2014 2015 15/14 Variation (%)
Gross Financial Margin 46,052 50,346 57,050 13.3
Financial Revenue with Credit Operations 70,011 84,494 98,519 16.6
Funding Expenses -32,518 -34,524 -42,841 24.1
Funding Expenses Institutional (1) -6,058 -12,984 -15,579 20.0
Credit Recovery 3,430 3,648 4,059 11.3
Treasury Result (2) 10,778 9,712 12,892 32.7

(1) Includes senior debt instruments, subordinated debt and Hybrid Capital and Debt Instruments (IHCD) in Brazil and overseas.
(2) Includes interest income, profitable compulsory deposits income, fiscal hedges, derivatives and other financial instruments that offset the effects of exchange rate variance on the results.

Fee Income | The expansion of the credit offer and our operation in insurances, cards and resources administration has been favoring the increase in business volume, thus contributing to the diversification of fee income. They represent a 9.2% increase for the year, reaching R$26.9 billion with emphasis to checking account, funds administration and collections.

Fee Income (R$ million) 2013 2014 2015 15/14 Variation (%)
Fee Income 23,301 24,647 26,925 9.2
Credit/Debit Cards 5,689 6,461 6,504 0.7
Funds Administration 3,713 4,133 4,726 14.4
Checking Accounts 4,120 4,610 5,227 13.4
Loan Operations and Guarantees 2,458 1,804 1,993 10.5
Collections 1,411 1,487 1,700 14.3
Insurance, Pension Plan and Saving Bonds 1,199 1,003 1,012 0.9
Billings 891 944 1,045 10.7
Interbank 726 749 775 3.5
Capital Market 524 481 522 8.4
Fiduciary Services 383 445 490 10.1
Others 2,187 2,529 2,931 15.9

Efficiency and productivity | In Banco do Brasil, we have been constantly striving to enhance our operating efficiency and productivity and to maintain strict control of the administrative, personnel and operating expenses. During 2015, administrative expenses amounted to R$34.5 billion, up by 6.9% above 2014 and within what BB had been expecting. The Efficiency Rate closed the year in 40.8%.

Basil | The BIS Ratio III of Banco do Brasil stood at 16.13% in December 2015, above the minimum regulatory percentage. The Bank Reference Equity reached R$135.6 billion.

Productivity Indicators

Value Added Statement (VAS)


The value distributed by Banco do Brasil amounted to R$39.4 billion, 0.1% down on the figure for 2014. The main variances in VAS in the year-on-year comparison are presented below:


Salary adjustment-linked expenses rose within the bank’s expectations, primarily salaries and fees, benefits and training.

Remuneration of Own Capital

Shareholder remuneration in the form of dividends was up as comparison with 2014 on account of higher net income in 2015. Similarly, retained earnings were also higher than in 2014. Together, these factors accounted for increased in R$3.4 billion in value distributed to remunerate own capital.

Taxes, Fees and Contributions

Amounting to R$2 billion, tax charges reflect the structure of the tax base for the year.

Remuneration of Third-Party Capital

High lease expenses arose from new lease agreements, with around 150 agreements signed for the physical expansion of the service network, as well as adjustments and renewals of agreements already in force.

BB VAS 2015 (%)

VAS – Personnel (R$ million)

VAS – Remuneration of Own Capital
(R$ million)

VAS – Remuneration of Third-Party Capital
(R$ million)
VAS – Taxes, fees and contributions
(R$ million)

Performance by Business Segment


GRI G4-DMA Products portfolioFS6G4-DMA Local communities

Our performance in providing loans contributes to the development of key sectors of the Brazilian economy, benefiting value chains and countless locations. Support for agribusiness, funds for infrastructure and logistics projects and a strong presence among micro and small businesses, among others, enable local economies to function and create new business and growth for all those involved. Also, we play a leading role in transferring federal funds to programs involving sanitation, housing and urban mobility, among others.

Our broad definition loan portfolio ended 2015 with a balance of R$814.8 billion, 6.9% above 2014. The classified loans portfolio, which excludes private securities, guarantees and operations of companies controlled together reached R$736 billion, a 6.1% increase in relation to December 2014 and equivalent to 20.9% of the market.

The average portfolio risk, which shows the ratio between required provisions and the total loan classified portfolio, has maintained a downward trend since 2011, and is still below the level of the Brazilian Banking Industry (SFN), ending the year at 4.38%. With regard to the 90-day delinquency ratio, we have been historically below the level of the SFN. We are the benchmark in Brazil for collections and credit recovery, especially because of our integrated technology platform for across-the-board management of this process, and through the use of probabilistic models. Out of the credits volume collected in the 12 months before the fourth quarter of 2015, 93.7% were solved up to 360 days.

We do not engage with or take credit risk on customers that do not comply with current legislation or which submit their employees to degrading types of work or forced labor conditions, framed in money laundering crimes, offering guarantees from illicit activities, practicing sexual exploitation of children or child labor or responsible for intentional environmental damage, as established in the Credit Policy and in the prohibitions when analyzing loan transactions.

Since 2013, the general clauses in BB loan instruments have included a clause with a social aspect referring to human rights. As regulated by Interministerial Ordinance MTE/SDH No. 2/2011, the Ministry of Labor and Employment (MTE) updates and discloses to the bank, among other bodies, on a six-monthly basis the Register of Employers listing those companies whose employees have been submitted to conditions analogous to forced labor. We may also request additional information or copies of documents dealing with the inspection process that gave rise to the employer’s inclusion on the register.

When granting loans, we adopt RSA principles, thus requiring compliance of the environmental legislation. We also adopt our own socioenvironmental criteria when analyzing risk, credit limits and investment projects. We condition rural credit in the Amazon biome to the proof of environmental land property regularity, not funding producers appearing in the list of areas embargoed by deforestation or irregular burning disclosed by the Brazilian Institute of Environment and Renewable Natural Resources (Ibama).

We also adopt its own socioenvironmental criteria when analyzing risk, credit limits and investment projects, as we make the financing conditional on compliance with environmental legislation. These procedures apply to businesses whose current or projected net operating revenues exceed R$50 million and investments involving project finance equal to or exceeding R$2.5 million.

Sustainability Guidelines on Loans | In 2015, BB sustainability guidelines for credit to Irrigated Agriculture, Paper and Cellulose were disclosed. These guidelines intend to disseminate business and administrative practices adopted by Banco do Brasil, thus reinforcing compliance with its public commitments and in alignment with the principles of RSA contained in its general and specific policies.

This initiative contributed to mitigating socioenvironmental risk and to reducing the impacts of financing and investments, in addition to identifying business opportunities within the sustainable business value chain based on material socioenvironmental issues and strategic topics for sustainable development.

Through this process we defined the guidelines for the topics on Agribusiness, Electrical Energy, Transportation, Civil Construction, Mining and Oil & Gas, addressing Forest and Biodiversity, Water, and Climate Change, which can all be found clicking here.

Socioenvironmental Guidelines for Controversial Issues | This document, made available on the BB sustainability website, sets out in clear terms the bank’s positioning with regard to disputes and controversial issues that have become notorious for the society. The guidelines list the segments served, the restricted activities and the blacklist, in line with good international practices and the public commitments assumed by the Bank.

Social Businesses

GRI G4-EC8G4-SO1FS4FS10G4-DMA Local communitiesG4-DMA Asset ownershipG4-DMA Product and services labeling

As we believe in the feasibility of combining services and interests of shareholders to sustainable social and environmental development, we have a Model for Integrated Involvement in Sustainable Development (DS). This system enables programs, projects and actions to be mapped, and opportunities to be identified in an integrated manner on the premises, thus driving the initiatives in Action Plans for Sustainable Development (PADS). By the end of 2015, we validated 1,961 plans with at least one action in each operation field: environmental, social and economic.

Municipalities Served

Ongoing Business Plans

Employees Trained in Sustainable Regional Development

A good example of such an integration includes actions that are supplementary to the social work of Programa Minha Casa Minha Vida (My House, My Life Program). Several actions range from the support to specific segments, such as professional categories and ongoing projects of partner entities, to the offer of products, services and strategies available in our portfolio aimed at strengthening undertakings with sustainable solutions and promoting the socioeconomic inclusion of those who are benefited by the Programa Minha Casa Minha Vida (My House, My Life Program).

Our social businesses prioritize the development of initiatives economically feasible for social problems – using market mechanisms – in order to solve socioeconomic inequalities in a sustainable manner, ensuring income, productive inclusion and access to public services. Initiatives include Programa Minha Casa Minha Vida (My House, My Life Program), Fundo de Financiamento ao Estudante do Ensino Superior (Fies – Student Loans), National Program for Family-based Agricultural Empowerment, Microcrédito Produtivo Orientado (MPO – Micro Credit) and BB Crédito Acessibilidade (Accessibility Credit) programs. They all play an important role in fostering public policies and are aligned with the mission of being “a market bank with public spirit” (the results can be seen on Individuals, Companies and Agribusiness).

Local development actions, with the purpose of supporting production activities identified as the main regional vocation, are aligned with the Business Strategy for Sustainable Regional Development. This is a process involving local engagement of stakeholders through the Bank’s branch network – public sector, private initiative and local society – seeking to develop and strengthen productive activities, observing the vision of the value chain.

The Business Plan for Sustainable Regional Development represents in a concrete, organized and systematized way, the production activity development plan supported by Banco do Brasil, considering its potentialities, shortages and opportunities identified in the diagnosed area. The local stakeholder engagement process leads to partnerships for managing each Business Plan, and includes a structured and collective process covering the planning, coordination and monitoring phases.

Currently, 1,422 business plans conducted by branches benefited 645,612 people (individuals and companies) distributed in all Brazilian regions.

We provide specific courses in order to train its employees around the DRS strategy. Today, there are 26,218 employees throughout Brazil trained to apply the methodology and to draw up DRS business plans. GRI FS4


The individuals loan portfolio – broad definition ended 2015 with a balance of R$193.2 billion, an increase of 7.5% in the year-on-year comparison, and accounting for 23.7% of the total portfolio. Considering only the credit portfolio classified as organic individuals (excluding acquired portfolios and Banco Votorantim operations), growth was 10.5% in comparison with December 2014. From this total, 75.9% is concentrated on lower-risk credit operations, such as payroll loans, salary CDC, auto loans and property loans, stable in relation to December 2014.

In this portfolio, most CDC and auto loans transactions involve civil servants, retired and pension pensioners, totaling 86.8% in December 2015, thus demonstrating stability and protection of the organic portfolio.

Most payroll loans – 73% of the total – contracted in December have a deadline over 60 months. The profile of customers enables extension of terms and loyalty, in addition to generating opportunity to offer other products during such period. BB’s market share in this segment was 24.2% in December 2015.

The organic auto loans portfolio totaled R$8.4 billion in the end of the period. In the case of this portfolio, 67.4% of customers with over 10 years of relationship with the Bank, and 67.9% receive earnings from the Bank. Vehicles loan-to-value in the organic standpoint reached 66.8% in December.

Individuals Loan Portfolio (R$ million) 2013 2014 2015 15/14 Variation (%)
Classified Loan Portfolio (a) 167,884 179,225 182,605 1.9
Direct Consumer Credit 85,491 84,992 89,965 5.9
Payroll loans
61,964 62,357 64,333 3.2
Consumer Finance
5,866 5,798 7,022 21.1
Salary loans
17,661 16,836 18,610 10.5
Auto loans 35,372 23,589 22,273 -5.6
Mortgages 18,458 28,487 37,169 30.5
Credit Cards (1) 20,081 22,149 23,470 6.0
Overdraft Accounts 2,451 2,298 2,272 -1.2
Microcredit 1,031 1,341 779 -41.9
Others 5,000 4,760 6,678 40.3
Private Securities and Guarantees (b) 323 497 669 34.6
Companies under Mutual Control (c) - (1) 11,610 9,880 -14.9
Loan Portfolio Broad Definition (a+b+c) 168,207 179,722 193,154 7.5
(1) Data not available for the period.

products with socioenvironmental features

Product Description Total portfolio in 2015
(R$ million)
Number of transactions in 2015
BB Crédito Acessibilidade (Accessibility Credit) Loan facility for customers with gross income up to 10 (ten) minimum salaries, intended to acquire goods and services for people with disability, based on Law No.12,613, dated April 18, 2012. 158 12,644
Fundo de Financiamento ao Estudante do Ensino Superior (Fies – Student Loans) Student loan facility, a Federal Government public policy to finance under graduate education for students who without the wherewithal to pay for their education, in line with the government’s policy for democratizing access to quality education.
FIES finances up to 100% of onsite under graduation programs. As of the 2nd semester of 2015 the finance started to have the following characteristics: 6.5% interest per year, 18 month waiting after completion of the program and amortization term three times the number of semesters financed. During the use and waiting term students only pay, on a quarterly basis, the interests of the loan, up to R$150.00.
With its FIES operation, BB acts as the Country’s development agent on sustainable basis (ECBB 2010-2014) and promotes social inclusion through access to Higher Education.
19,480 129,670
Fundo de Amparo ao Trabalhador
(FAT) Taxista
Auto loans for individuals where the fuel is from renewable sources. This facility uses funds from the Fundo de Amparo ao Trabalhador (Workers’ Assistance Fund, or FAT) and leads to the creation of jobs and income.  304.4  5,136
Programa Minha Casa Minha Vida (My House, My Life Program) (1) Financing for developments that meet requisites such as the inclusion of the elderly and those with special needs; environmental protection rules and attitudes, such as the use of equipment and solutions; compliance with recommendations when executing projects; and the fostering of discussions and dissemination among their members of knowledge about how to re-use materials, rational use of natural resources, alternative low-cost methods for heating water/degradable construction materials/other risks arising from the failure to protect the environment and other pertinent matters.  17,006 66,700
BB Microcrédito Desenvolvimento Regional Sustentável Credit line suspended in 2013. A credit facility intended for urban Microentrepreneurs. With amounts ranging from R$200 and R$3 thousand, 1.0% interest rate per month and 48 months term, the line represented an important tool to boost businesses from urban entrepreneurs that benefit from Sustainable Regional Development Business Plans, intended to meet their financial flows. 19.1 0

(1) In the Individuals segment, 66,542 transactions were closed, resulting in a portfolio of R$16,206 million. In the companies segment there were 158 transactions amounting to R$799.5 million at the end of 2015.

In 2015, the companies credit portfolio broad definition grew 5% and now accounts for 45.6% of the total portfolio; micro and small companies achieved 25.2%


The companies loan portfolio – broad definition reached R$371.8 billion in 2015, growth of 5% over 2014, accounting for 45.6% of the total portfolio. By the end of the year, micro and small companies (with TVM) and the Government summed up 74.8% of the total portfolio, while micro and small companies accounted for 25.2%.

Working capital and investment transactions grew 0.3% and 2%, respectively, during the year, impacted by the volume of medium and large companies contracting.

Transactions with private TVM and guarantees stood at R$65.9 billion, which rose by 4.3% per year – negotiated with large companies; they historically represent low risk. Investment loan disbursements stood at R$41.5 billion, the highlight being Transportation Infrastructure Financing.

Loan transactions to micro and small companies reached R$93.6 billion, with a 8.4% fall in comparison with 2014. Working capital, investments and foreign trade accounted for R$59.7 billion, R$32.1 billion and R$1.7 billion, respectively.

At the end of the year, we had 2.3 million clients in this sector, and 96.5% of the portfolio balance was focused on checking account holders with relationships exceeding two years.

Furthermore, we have availed of instruments such as the Transactions Guarantee Fund (FGO) and the Suretyship Fund for Micro and Small Enterprises (Fampe), enabling greater access to loans and reductions in costs for the end borrowers. This quarter, 26.2% of transactions were covered by funds.

Loans transactions with the Government summed R$42.1 billion, a growth of 44.6% in comparison with 2014, providing financing for States and Municipalities, especially in infrastructure.

Loan portfolio – broad definition abroad summed R$74.9 billion at the end of the year, representing an interest of 24.7% and 18% in export and import exchange rate transactions, respectively. We are the main Brazilian foreign trade partner and the leader in Advances on Foreign Exchange Contracts (ACC) and Foreign Exchange Deliveries (ACE) transactions, with 27.2% market share.

Companies Loan Portfolio (R$ million) 2013 2014 2015 15/14 Variation (%)
Classified Loan Portfolio (a) 260,589 283,916 298,687 5.2
Working Capital 138,337 146,546 151,901 3.7
Investments 56,380 65,076 66,459 2.1
Receivables 18,970 17,043 13,263 -22.2
Credit Cards 13,719 15,014 15,085 0.5
ACC/ACE 11,922 12,494 17,522 40.2
Mortgage 5,907 10,276 11,909 15.9
Pre-Approved Credit 3,714 4,054 2,835 -30.1
BNDES Exim 3,543 4,003 2,047 -48.9
Overdraft Accounts 239 317 428 35.0
Others 7,857 9,093 17,238 89.6
Private Securities and Guarantees (b) 61,677 63,227 65,946 4.3
Companies under Mutual Control (c) - (1) 6,961 7,132 2.5
Loan Portfolio Broad Definition (a+b+c) 322,265 354,104 371,765 5.0
(1) Data not available for the period.

Products with Socioenvironmental Features

Product Description Total portfolio
in 2015
(R$ million)
Number of transactions
in 2015
BB Microcrédito Empreendedor Loan facility intended for business customers aligned with the Microcrédito Produtivo Orientado (MPO) [Oriented Productive Micro-Credit], for working capital or investment, designed to meet the financial needs of small enterprises activities. It uses the guidance and business monitoring method directly at the location where the economic activity is carried out. 663.6 542,101
BB Giro Rápido Pre-approved credit facility to meet the working capital needs of micro and small enterprises. The line includes two types of credit – overdraft accounts and fixed revolving credits that add social value by providing micro and small enterprises with marketing differentials.The product offers advantages, such as a simplified credit approval process, while the transactions are covered by the guarantee of the FGO, which facilitates access to credit.  3,078.9  10,635
BB Giro APL A working capital facility intended for micro and small enterprises associated with APLs. BB Giro APL transactions can be taken out with the guarantee of the FGO, which facilitates access to credit for micro and small businesses, since the presentation of guarantees represents one of the principal barriers when taking out loans, in addition to the possibility of lower financial charges.  15.6 82
FAT Turismo Specific credit facility to serve MPME with gross annual revenue of up to R$25 million in the face of opportunities from major sporting events held in Brazil in 2013 and 2014.
The loan was intended to support micro, small and medium companies in the development of projects and meet the demands generated by such events, in the form of investments and working capital financing.
Credit solution intended to generate jobs and income in sectors directly or indirectly related to sporting events. Resources derived from the Workers’ Assistance Fund (FAT) and the facility was exclusively marketed by Banco do Brasil.
The list of eligible items was very broad and covered from personnel training in service quality, customer service and foreign language, to machine and equipment, vehicles and boats to transport people to establishments registered at Cadastur – national register of service providers from the Department of Tourism – until the development of sites to implement software.
The credit facility was in force until December 31, 2014 and new contracting were closed after this date, as per Codefat Resolution No. 723, from December 18, 2013.
197.2 0
Proger Financing intended for micro and small enterprises for investment projects, with or without an underlying working capital loan, enabling the creation or maintenance of jobs and income in urban areas, so as to ensure the sustainable development of micro and small enterprises aligned with the Proger Urbano program.  2,667.2 4,833


Banco do Brasil is absolute leader in agribusiness credit, with 60.9% market share. This is one of the main economy sectors, essential for Brazil’s growth and development.

The broad definition agribusiness loan portfolio, including rural credit and agroindustrial transactions grew by 6.1% in 2015, reaching R$174.9 billion. This segment accounted for 21.5% of the BB’s total portfolio in the period and its delinquencies index remained low, with INAD+90 of 0.97% in December 2015 compared to 0.69% in December 2014.

The Bank’s operation reaches small producers and large agroindustrial companies. In the broad concept, the individuals agribusiness portfolio increased 4.8% in the year, while the companies’ portfolio grew 9.4%.

During the year, the portfolio had an increase of 6.6% in investment, 20.1% in industrial credit and 4.2% in funding. Segmentation per program or credit facility emphasizes Pronaf operations, with 9.1% increase; the National Support Program for Mid-Size Farmers (Pronamp) with an increase of 2.7%; and the Low Carbon Agriculture Program (ABC Program) with an increase of 13.4%.

During the first half of the 2015-2016 crop year, BB disbursed R$43.6 billion in rural loan transactions. Family Farming had R$8 billion applied, while Company Farming reached an amount of R$27.8 billion. Transactions through Pronamp summed up R$7.8 billion.

Agribusiness Loan Portfolio (R$ million) 2013 2014 2015 15/14 Variation (%)
Classified Loan Portfolio 144,100 163,640 173,866 6.2
Rural Loans 109,469 133,310 137,449 3.1
National Program for Family-based Agricultural Empowerment
35,983 35,983 39,271 9.1
Working Capital Program for Input Purchases
26,684 29,911 30,545 2.1
22,082 22,082 22,689 2.7
BNDES/Finame Rural
10,249 10,249 9,916 -3.2
FCO Rural
8,327 8,825 9,131 3.5
Agribusiness Investments
6,269 8,324 9,369 12.6
Programa ABC (Low Carbon Agriculture Program)
5,346 8,024 9,099 13.4
Agribusiness Commercialization
4,508 5,934 4,059 -31.6
4,389 3,978 3,370 -15.3
Agroindustrial Loans 34,631 30,330 36,417 20.1
Rural Product Bills and Guarantees 708 1,262 1,082 -14.2
Loan Portfolio Broad Definition 144,809 164,902 174,948 6.1

Mitigators in Rural Credit during the 2015-2016 Crop Year (%)


Warehouses Construction and Expansion Program (PCA) | BB is pioneer and the main funder of the program, intended to support the improvement of storage structures and generate jobs an income to field producers.

Esteira Agro BB | We have launched a new machines, equipment, trucks and agricultural implements funding model. Financing proposals are made directly by supplying dealers and forwarded to the Bank via Internet.

GRI G4-DMA Asset ownershipG4-DMA Issuances

With regard to the policy on agribusiness loans, this takes into account, in addition to the risks inherent to the business, the aspects concerning socioenvironmental responsibility and the capacity to generate employment and income, in accordance with the policy approved by the Board of Directors. Currently, before granting rural credit, we require the environmental licensing for the activity, water rights and, in the Amazon Biome, proof that the property is environmentally regular. The loan agreement contains a clause that calls for suspension of outstanding drawdowns and the exceptional maturity of the financing where illegal deforestation occurs on the property. GRI G4-DMA Product portfolioFS10

In addition, attention is paid to the Ecological and Economic Zoning (ZEE) and Agro-ecological Zoning (ZAE) arrangements that indicate aspects such as economic opportunities, environmental fragilities, occupation trends and the agro-economic suitability per crop.


Operations with resources from the Midwest Constitutional Fund (FCO) contain a contractual clause binding the borrower in federal, state and municipal legislation referring to environmental preservation. This clause includes compliance with technical and legal criteria for preservation of riparian forests, hillsides and hilltops, soil conservation and water for use in pest management, watershed protection, fauna and flora protection and other environmental conservation considerations. GRI G4-EC2

Fulfilling its role as an agent of public policies, the bank has set up a Technical Cooperation Agreement with the Ministry of the Environment to strengthen and encourage the Rural Environmental Register (CAR). We have an agreement with the Department of Strategic Affairs of the Presidency of the Republic to undertake studies into rural credit and insurance. The Institution is also a member of the Sustainable Animal Husbandry Working Group (GTPS), an organization created by representatives of the various segments comprising the cattle raising value chain in Brazil and is part of the Soy Moratorium initiative, a pact that aims to inhibit the planting of soy in the Amazon Biome. We also participate in the Soja Plus Program since 2014, which promotes the economic, social and environmental management of the property with rural producers.

Banco do Brasil encourages the use of sustainable farming techniques that contribute to improving income, reducing greenhouse gas (GHG) emissions and conserving natural resources. It was a pioneer in getting the Low Carbon Agriculture Program (Programa ABC) off the ground, so as to finance sustainable agricultural production systems that have an acknowledged capacity to reduce/sequester GHG emissions and foster the production of vegetation/biomass and foodstuffs while preserving the environment. GRI G4-EC2


Product Description Total portfolio
in 2015 (R$ million)
Number of
transactions in 2015
Programa ABC The primary objectives are to reduce GHG emissions from farming activity and deforestation, and to encourage the recuperation of degraded areas.  9,099.2 7,537
Pronaf Aims to make farmers and their family members more professional, modernize the production system and recognize the value of the family farmer. It provides support to farming and non-farming activities where the direct labor force is the rural producer’s own family members.  39,271.5 629,466
Pronaf Florestal Aims to support investments in projects that meet the requirements defined by the Department of Family Agriculture/Ministry of Agrarian Development for: agroforestry systems; ecologically sustainable extractivist exploitation; stewardship and forestry stewardship, including project implementation and maintenance costs; and the enhancement of areas that already have a diversified forest cover by planting one or more species native to the biome. 173.0 284
Pronaf Agroecologia A credit facility intended for farmers eligible for the Pronaf program, for investments involving specific agro-ecological or organic product system projects, including the project implementation and maintenance costs. 7.1 23
Pronaf Eco-Dendê/Seringueira Credit facilities for farmers eligible for the Pronaf program for investments in establishing palm oil or rubber plantations providing working capital for purchasing inputs associated with maintaining the crops. 9.4  101
Pronaf Eco A facility intended for farmers eligible for the Pronaf program who want to implement, utilize, recover or adopt renewable energy and/or environmental technologies, water storage, small  hydroelectric power systems, silviculture or conservationist practices involving soil acidity correction and fertility. 233.7 1,050
Moderagro A fixed credit facility intended for farming investments using BNDES funds. It foster actions involving animal welfare and the implementation of systems for tracing animals intended for human consumption. The program supports soil recovery, in addition to fostering sectors that produce, process, transform and store products from beekeeping, aquaculture, aviculture, chinchilla breeding, rabbit breeding, floriculture, fruit growing, horticulture, fishing, sheep and goat breeding, dairy cattle, frog breeding, silk worm breeding and pig. 630.4 120
Pronamp Program intended for financing normal expenses with working capital, capital for input purchases and investment, so as to foster the development of the rural activities of mid-size farmers, enabling them to increase their income and create jobs on the land.  22,688.6 105,880
Programa de Construção e Ampliação de Armazéns (PCA) Aims to support the investments needed to expand and build new warehousing. Thus it contributes to improving the income of rural producers and the distribution and storage of the food produced in Brazil, enhancing food security. 3,128.3 658
Custeio Agrícola com Plantio Direto Financing using the direct planting system following the forests logic. As the organic material fallen from the trees becomes a rich natural fertilizer, straw decomposed from previous harvests macro and microorganisms is transformed into soil “food”. Advantages include the reduction in chemical inputs use and control of erosive processes, once infiltration of water becomes slower by the permanent soil cover. The Direct Straw Planting System (SPDP) contributes not to lead the soil by erosions and to store more nutrients, fertilizers and addtivies.  14,870.8  168,184
Inovagro Program to Incentive Technological Innovation in Agricultural Production (Inovagro), supports the necessary investments to incorporate technological innovation in rural properties, intended to increase productivity, adopt good agricultural practices and manage the rural property, and to competitively include rural producers in different consumers’ markets.  1,745.7 5,353
Semiárido Financing lines for Sudene’s region (The Northeast Development Superintendence) with reduced financial charges in the comparison to the rural financing lines for other regions of the Country. Sudene’s region has the frequent draughts, as its main feature, which can be both characterized by the absence, scarcity, high space and time variability of the rain. It is common to have ten sequential years of draught. 4,631.4 258,214

Equator Principles

GRI G4-EC2G4-HR1G4-HR9G4-SO2G4-DMA Products portfolioG4-DMA AuditG4-DMA Economic performanceG4-DMA EnergyG4-DMA Child LaborG4-DMA Forced or compulsory laborG4-DMA AssessmentG4-DMA Supplier human rights assessmentG4-DMA Human rights grievance mechanisms

As a signatory to the Equator Principles, we adopt the standards of the International Finance Corporation (IFC) when analyzing risk, so as to be certain that the financing is a responsible contribution to social development and the best environmental management practices is respected when carrying out major projects. In 2015 we conducted 15 projects in the Equator Principles scope: three financings, one corporate financing project-targeted, two bridge loans and nine advisory services. As of 2014, we adopted version 3 of these guidelines, which expanded the scope of the eligible financial products, generating better project control and monitoring, a much wider overview of the risks, the possibility of better mitigating the socioenvironmental, reputation, credit and legal risks, as well as being a positive approach to shareholders, customers, employees and market indices. GRI G4-14

The projects we assess are classified in a socioenvironmental risk matrix that identifies relevant impacts and risks and management measures. Category A covers projects where the potential risk or adverse socioenvironmental impact is significant multiple, irreversible or without precedent. Category B, in turn, covers those of limited potential, lower number, extensively reversible and immediately controllable using mitigation measures. Category C covers initiatives where the risk or impact is minimal or non-existent.

In all requests for financing categorized as A or B, we require that customers develop or maintain an environmental and social management system. Furthermore, in high-risk cases it may be necessary to ask the customer to provide additional Evaluation Documentation, with a specific due diligence on human rights or a limited-scope or focused social or environmental assessment may be carried out (like an audit).

In 2015, we hired a Category A operation referring to a bridge loan to build a shipyard in the Southeast region. Mitigating actions are focused on the infrastructure installation in the project region, by building a road and waterway system, housing, public health, professional education and industrial waste treatment. Our participation in this operation was R$125 million.

Operations classified as B had our participation in three operations, two of them in the energy sector and one in the infrastructure sector (airports).

In 2015, the following operations within the scope of the Equator Principles were closed:

  • Project Finance | Three projects, two in the energy sector and one in the infrastructure sector (airports);
  • Project Related Corporate Loan | One project in the ports sector (logistics);
  • Bridge Loan | Two projects, one in the energy and the other in the marine sector
  • Project Finance Advisory Service | Nine projects, three in the roads sector, one in urban trains, one in energy, two in ports (logistics), one in cellulose and one in the food industry sector.

The projects analyzed from the point of view of the Equator Principles fall into the following sectors: energy generation/transmission, infrastructure/airports, marine and others.

Project Finance Advisory Service entered into in 2015
Sector Total
Mining 0
Infrastructure 6
Oil and Gas 0
Energy 1
Others 2
Subtotal 9
Region Total
Americas 9
Europe, Middle East and Africa 0
Asia 0
Subtotal 9

Project Finance entered into in 2015
Sector Category A Category B Category C
Mining 0 0 0
Infrastructure 0 1 0
Oil and Gas 0 0 0
Energy 0 1 1
Others 0 0 0
Subtotal 0 2 1
Region Category A Category B Category C
Americas 0 2 1
Europe, Middle East and Africa 0 0 0
Asia 0 0 0
Subtotal 0 0 0
Country Designation Category A Category B Category C
Designated Country 0 0 0
Non-designated Country 0 2 1
Subtotal 0 2 1
Independent Audit Category A Category B Category C
Yes 0 2 0
No 0 0 1
Subtotal 0 2 1
Total Projects in Category A 0
Total Projects in Category B 2
Total Projects in Category C 1

Project-Related Corporate Loans Entered into in 2015
Sector Category A Category B Category C
Mining 0 0 0
Infrastructure 0 0 1
Oil and Gas 0 0 0
Energy 0 0 0
Others 0 0 0
Subtotal 0 0 1
Region Category A Category B Category C
Americas 0 0 1
Europe, Middle East and Africa 0 0 0
Asia 0 0 0
Subtotal 0 0 1
Country Designation Category A Category B Category C
Designated Country 0 0 0
Non-designated Country 0 0 1
Subtotal 0 0 1
Independent Audit Category A Category B Category C
Yes 0 0 0
No 0 0 1
Subtotal 0 0 1
Total Projects in Category A 0
Total Projects in Category B 0
Total Projects in Category C 1

Bridge Loans Entered into in 2015
Sector Category A Category B Category C
Mining 0 0 0
Infrastructure 1 0 0
Oil and Gas 0 0 0
Energy 0 1 0
Others 0 0 0
Subtotal 1 1 0
Region Category A Category B Category C
Americas 1 1 0
Europe, Middle East and Africa 0 0 0
Asia 0 0 0
Subtotal 0 0 0
Country Designation Category A Category B Category C
Designated Country 0 0 0
Non-designated Country 1 1 0
Subtotal 1 1 0
Independent Audit Category A Category B Category C
Yes 1 1 0
No 0 0 0
Subtotal 1 1 0
Total Projects in Category A 1
Total Projects in Category B 1
Total Projects in Category C 0

Foreign Trade

We maintained our market leadership in export and import exchange transactions, with 24.7% and 18.0% share, respectively, during 2015. In order to keep our standout position in foreign trade support, BB Comex was launched to deepen commercial relationships with exports of all sizes, encourage the use of technology in operations and conduct seminars to provide training and exchange experiences among the several chain agents.

In Trade Finance, the highlight were Advances on Foreign Exchange Contracts (ACC)/Foreign Exchange Deliveries (ACE), which amounted to US$9.5 billion, with a market share of 27.2%. Import finance stood at US$3.9 billion. Within the scope of the Export Finance Program (Proex), disbursements in the finance modality stood at US$329.8 million.

Online foreign exchange services represented 68.8% of export exchange and 55.9% of import exchange operations (concluded slips). We also offer training in international businesses services, with the training of 3,312 people in 2015, including business owners, students and professionals from the sector in Brazil.


Card Turnover
(R$ billion)

Cards services results reached R$3.4 billion in 2015, an increase of 4.4% in comparison to 2014. This performance can be attributed to the issuance and use of credit, debit and installment plan cards by customers and the result of accreditation/acquisition services, prepaid/voucher cards and cards flags, which are provided by the Bank’s partners.

Card turnover was R$256.7 billion during the year, an annual growth of 7.7% in comparison to the previous year. Worth of note is the increase of 10.6% in traditional retail purchase operations, thus demonstrating the flagship of card as payment method. This performance can be attributed to having strengthened customer relationships, the mobilization across the branch network, and the replacement of other payment methods.

We invested in safety in order to reduce operating losses with electronic fraud, specially card cloning. These measures promoted the replacement of almost 12 million magnetic stripe plastic for others with the chip technology, which ensures further safety in banking operations. This initiative results in the record reduction of 86% losses in this type of fraud.

Using SMS was another exclusive strategy that enables greater speed in prevention actions, once the customer is immediately informed about suspicious transactions. The answer, also via SMS, with confirmation of the transaction or not, activates automatic procedures that interrupt activities of fraudsters. Automated routines promote continuous monitoring, generating alerts when unusual customer transactions are detected.

Continuing with the reorganization and diversification of payment methods business, in addition to Cateno, Stelo, started to operate managing the digital portfolio business and facilitating electronic transactions. At the end of 2015, Livelo remained in the pre-operating phase, with ongoing pilot tests.

March saw another highlight launching of a solution that enables debit and credit purchases via cellphone, through NFC technology, thus replacing the card.

GRI G4-4


Product Description Number of Cards
Issued in 2015
Variation (%)
Ourocard Empreendedor A specific credit card to meet the needs of Individual Micro Entrepreneurs (MEI), exempt from annual fees, for the purpose of leveraging credit in this segment and facilitating access to banking services and the movement of financial resources.  19,651 3.3
Ourocard Origens Reciclado The first card produced from recycled Banco do Brasil plastic. With each card requested, the customer donates R$5 to Instituto Terra, which fosters the recovery and sustainable stewardship of the Atlantic forest; they also agree to the automatic rounding up of the invoice value and contribute to the planting of 1 to 400 trees needed to sustain the recovery of 1 water source.  14,079 6.5
Cartão de Pagamento da Defesa Civil (CPDC) Card intended for payment of expenses involving rescues, helping victims and reestablishing essential services, used exclusively in emergency situations or states of public calamity and recognized by the National Department of Civil Defense.  2,364 -18.6
de Fatura
Ourocard holders who sign up for this service will have the value of their invoices rounded up to the next whole amount, with the corresponding difference in cents donated to a non-profit partner institution of the bank.Donations are currently intended solely for Instituto Terra, which promotes reforestation of deforested areas of the Atlantic Forest and is currently responsible for having recovered over 40 million square meters.  75,727 40.4

Insurance, Pension Plan and Saving Bonds

BB Seguridade achieved a net profit of R$4.2 billion, a 21.7% increase in 2015 in comparison with 2014 and added a profit of R$2.8 billion to BB conglomerate. Excluding extraordinary events, the adjusted net profit of BB Seguridade Participações reached R$3.9 billion, a 22.4% growth in comparison to 2014.

Total volume of awards issued, pension plan contributions and saving bonds collection summed R$60.2 billion, an increase of 11.4% compared to the previous year. This performance ensures BB leadership in total revenues in the segments it operates, and a 27.5% market share, as per data from the Superintendence for Private Insurance (Susep).

Brasilprev ended the year retaining its high-profile position of reserves P/VGBL, achieved in March 2015. During the year, the volume of reserves P/VGBL grew by 20.1%, achieving the mark of R$32.9 billion, equivalent to 38.5% market share. For more information click here.


Product Description Billing in 2015
(R$ million)
Share of Total Portfolio
Billing in 2015 (%)
Life Insurance
Ouro Vida Transfers to Fundação Banco do Brasil (FBB) 50% of its stipulation revenues for allocation to that entity’s social programs. 850.9 35.5
BB Seguro Vida Mulher Transfers to FBB 50% of its stipulation revenues for allocation to that entity’s social programs. 335.8 14.0
Ouro Vida Grupo Especial Transfers to the Federation of AABB (FENABB) 2.19% of stipulation revenues. 755.0 31.5
Property Insurance
Ouro Residencial Transfers to FBB 100% of its stipulation revenues for allocation to that entity’s social programs.  174.4 25.9
Ouro Máquinas Transfers to FBB 100% of its stipulation revenues for allocation to that entity’s social programs.  10.2 1.3
Ouro Empresarial Transfers to FBB 100% of its stipulation revenues for allocation to that entity’s social programs.  138.4 20.5
Savings Bonds
Ourocap Torcida Pagamento Único Education – transfers to FBB the percentage of 0.25% from the total funds collected in the payment, by the subscribers, of the unique installment of the saving bonds from R$600 to R$1 thousand by direct account debt. 1,299.5 19.9
Environment - transfers to FBB the percentage of 0.25% from the total funds collected in the payment, by the subscribers, of the unique installment of the saving bonds from R$2 thousand to R$5 thousand by direct account debt and from R$1 thousand to R$5 thousand by credit card. 2,342.1 35.9
Ourocap Estilo Flex Environment – transfers to FBB the percentage of 0.5% from the total funds collected in the payment, by the subscribers, of the unique installment of the saving bonds PU36 S (Ourocap Estilo Prêmio), traded by Banco do Brasil network in the amounts from R$250 to R$500. 44.1 0.7

Asset Management

GRI FS11G4-DMA InvestmentsG4-DMA Active ownership

We remained leader in the investment funds industry through BB Gestão de Recursos DTVM S.A. (BB DTVM), with 21.5% market share and a total of R$603.2 billion in administrated funds – this amount includes funds managed by the subsidiary and other institutions. In relation to 2014, it had 8.7% growth, surpassing the historic mark of R$600.0 billion. From the total funds administrated, the bank ended 2015 with R$587.7 billion managed by DTVM, which is equivalent to a 20.5% market share.

BB DTVM has been leader of the Brazilian investment funds industry since 1994 and organizes, administrates and manages funds, portfolios and investment clubs.

In line with the principles of social and environmental responsibility we adopted since November 2010 BB DTVM has been a signatory to the Principles for Responsible Investment (PRI), where the intention is to apply to its management processes those practices that promote the integration of environmental, social and corporate governance issues.

The subsidiary has developed its own methodology for evaluating company shares, by which it incorporates into a criterion for selecting sustainable assets, based on the pillars of economic and financial performance, corporate governance and environmental and social aspects. Assessment and its results, in the form of ranking, help its managers to acquire more assertive assets.


Product Description Net Equity in 2015
Profitability in 2015 (%)
BB Referenciado DI Social 50 Transfers 50% of the management fee to FBB to benefit social projects.  115.1 10.5
BB Ações ISE Jovem FIC Transfers 20% of the management fee to FBB in support of initiatives under the Brazil Water Program. The portfolio of the Corporate Sustainability Index (ISE) consists of shares of companies with extensive corporate responsibility proposals that take into account aspects of good governance, economic efficiency, environmental equilibrium and social justice.  8.6 -14.2
BB Multimercado Global Acqua LP Private FI Invests part of its portfolio in Brazilian and global whose manufacturing processes provides treatment or improvement of water.  503.1 13.3
BB Ações Carbono Sustentável FIA Tracks the Carbon Efficient Index (ICO2) created by BNDES and BM&FBOVESPA, consisting of shares of companies comprising the IBrX-50 index, which adopt transparent practices with regard to their GHG emissions.  4.5 -11.1
BB Previdenciário Ações Governança Fund intended for the in-house pension funds instituted by the Federal Government, the states and the tracks the BM&FBOVESPA Corporate Governance Index (IGC) consisting of companies acknowledged for good corporate governance practices whose shares are traded at corporate governance levels I and II on the Novo Mercado segment.  94.9 -11.9
FIP Brasil de Governança Corporativa Structuring of funds intended for acquiring equity interests in companies that could move up to be global corporate governance (pre-IPO) companies, with sound management essentials and open to enhancing their good corporate governance practices in addition to applying the concepts of self-sustainability and and sufficiently developed to manage conflicts and deal with socioenvironmental issues. 367.4 -2.3
Brasil Sustentabilidade FIP Structuring of funds intended to purchase equity interests in companies whose activities are associated with projects  that have the potential to generate carbon credits, by incorporating sustainability principles in their investment  decisions. 232.3 -0.7

Capital Markets and Treasury

We operate in Brazilian capital markets through BB Banco de Investimento (BB BI) and overseas through BB Securities (New York, London and Singapore) with focus on retail and institutional investors. Purchase and sales of stocks and shares for retail customers of the branch network, Internet (home broker) and mobile devices saw a turnover of R$26.8 billion, of which R$25.2 billion via the home broker service.

During the year, we have coordinated 41 issues of fixed income securities, including promissory notes and debentures, Investment Funds in Credit Rights (FIDC), Certificates of Real Estate Receivables (CRI) and Certificates of Agribusiness Receivables (CRA) amounted to R$15 billion, placing the bank 2nd in the consolidated origination ranking, with 24.5% market share.

The three external issues we operate summed US$2.3 billion, which places it 7th in the ranking. 2015 highlights also include CRI, FIDC and CRA operations amounting to R$10.9 billion on the securitization market.

In order to encourage small and medium companies’ growth, we seek to develop the Brazilian capitals market. Within this context we participate in different roundtables and working groups, especially the Minor Offerings Committee consisting of BM&FBOVESPA, the CVM, the BNDES and a variety of market players. The suggestions of this committee led to the drafting of Law No. 13,043/14, which provides for tax incentives for investors in assets in the access market and lower costs for issuers.

The adoption of socioenvironmental criteria in advisory services for public share offerings takes place in the preparatory phase, when one seeks to prove that the customer is in compliance with labor and environmental legislations. When hiring partners for the purchase and sale of stocks, BB abides by the Supplier Relationship Policy and inserts socioenvironmental clauses in the agreements. GRI G4-SO9


Product Description Total Portfolio in 2015
(R$ million)
Number of Transactions in 2015
BNDES Governo A credit facility intended for the states and the Federal District for investment in public works, equipment and facilities, aiming to deliver social benefits to the population affected by the initiatives. 24.6 4
Provias A credit facility intended for municipalities, for the acquisition of  machinery and equipment for    use in road, highway and freeway works, in order to deliver social benefits to the population affected by the initiatives. 5.4 4
Programa Modernização da Administração Tributária e da Gestão dos Setores Sociais Básicos (PMAT) Financing to support municipal government investment   intended for modernizing taxation management and for improving the quality of public expenditures, so as to promote efficient public management that leads to higher revenues and/or lower unit costs of the services provided to society. 57.0 5
BB Financiamento Setor Público (Operações com Estados) Funding, with transfer from external funds or BB, of programs and initiatives provided for in strategic state planning. It has social impacts for the improvement in the population’s quality of life. 500.0 1


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