Total credit portfolio reached R$24.5 billion

The result achieved in 2010, the best registered during BMG eight decades when the financial institution registered R$605.7 million net income, 16% growth comparing to last year same period with R$522.3 million. Profitability in 2009 registered 26.1% while in 2010 reached 27.6%. Shareholder’s equity accrued R$2.3 billion. During 2010 credit generation figured R$10.8 million, 28% superior than R$8.5 billion in 2009. From total credits generated in 2010, R$7.5 billion were addressed to paycheck deductible loans, representing 69% from total amount of originated credits in the period.

According to Banco BMG President, Ricardo Guimarães, these figures show the result from relevant correct actions, as well as from focusing on paycheck deductible loans - PDL, on market maturation and strongly from BMG business expertise. Guimarães is even optimist for 2011. “The economical scenario and new government let us to believe that we will certainly have a successful 2011”, he comments.

Paycheck deductible loans main borrowers are represented by pensioners and retirees from INSS (37%) followed by public servers (32%). Other generated credits cover operations with suppliers from public sector and major corporations from private sector, and even, from Banco Nacional de desenvolvimento social (BNDES)
resources transfers.

Total credit operation portfolio and leasing, including assigned credits, registered an outstanding as of December 31, 2010 of R$24.5 billion, corresponding to 31% expansion over 2009 same period. Commercial portfolio from structured operations with public sector suppliers and private sector major corporations registered 179% growth over 2009.

In 2010, funding reached R$23,11 billion, from which 68.4% represent assigned credits in partnership with other banks; 21.5% time deposits and inter financial together with institutional investors, financial institutions, personal customers and legal: 1,5% (FIDCs) operations; 7,8% external funding and 0,8% other funding.