Quarterly Management Discussion & Analysis (MDA300905.pdf)
Quarterly Management Discussion & Analysis (MDA300905.pdf) Quarterly Management Discussion & Analysis (MDA300905.pdf)
Analysis of the Consolidated Net IncomeNetwork Evolution (*)Tax Expenses for ISS, PIS and COFINSISS, PIS and COFINS tax expenses totaled R$ 372 million,a 4.6% growth from the previous quarter, as a result ofthe increased financial margin and banking service fees.R$ MillionPIS/COFINS (301) (290) (11) 3,9%ISS (71) (66) (5) 8,0%Sep/03 Dec/03 Mar/04 Jun/04 Sep/04 Dec/04 Mar/05 Jun/05 Sep/05ATM Branches CSB(*) Includes Banco Itaú Buen Ayre and Banco Itaú BBA. Not includes Taií.The number of points of service totaled 24,633 inSeptember 2005, a slight increase compared to 24,424in June.As part of its expansion process, Taií — which includesItaú consumer loan operations and the associationsbetween Itaú and CBD, as well as Itaú and LojasAmericanas (LASA) – opened during the quarter 90 newpoints of service, which now total 510 points.Net expenses for Income Tax and Social Contributionon Net Income in the third quarter of 2005 amountedto R$ 297 million, falling by 35% from the prior quarter,primarily due to increased expenses for Interest on OwnCapital and decreased results subject to taxes.R$ MillionInternet Banking Clients(In million)Exchange Variation on Investments Abroad (118) (277) 160Interest on Own Capital 212 121 91Others 40 39 0Exclusion of Exchange Variation on InvestmentsAbroad (D)Exclusion of Tax Effects from Hedge of InvestmentsAbroad (E)(4) (12) 8248 457 (209)Sep/03 Dec/03 Mar/04 Jun/04 Sep/04 Dec/04 Mar/05 Jun/05 Sep/05Clients who used the service during the monthRegistered clientsThe number of Internet Banking customers in the thirdquarter of the year grew by 5% compared to the previousquarter, to reach over 4 million registered customers.AOLA TransactionIn the third quarter of 2005, revenues from themarketing service agreement with América Online BrasilLtda. (AOLB) in the amount of R$ 13 million were takento consolidated income. The agreement between Itaúand AOLA provided for the advance receipt of fundsrelating to services rendered by Itaú to AOLB (AOL BrasilLtda.), which are taken to income as the Bank incursexpenses for the agreed-upon services. At September30, 2005, R$ 138 million are still recorded in the balancesheet to be subsequently allocated to revenues.Tax credits accounted for 34.8% of net equity at theend of the third quarter of 2005. The slight increase inthis ratio was due to the effect of purchase of shares tobe held in treasury.Tax Credits x Stockholders' Equity (%)70.0%61.0%60.0%55.9% 57.7%59.4%49.8%50.0%54.5%43.3%38.2%40.0%34.6%30.0%33.0% 34.8%20.0%10.0%0.0%dec/00jun/01dec/01jun/02dec/02jun/03dec/03jun/04dec/04jun/0520 Management Discussion and AnalysisBanco Itaú Holding Financeira S.A.
Pro Forma Financial StatementsStatementsProncialFormaStatFinancialPro Form21 Management Discussion and AnalysisBanco Itaú Holding Financeira S.A.
- Page 5: Executive SummaryConsolidated State
- Page 10 and 11: Executive Summary - Third Quarter o
- Page 12 and 13: Analysis of the Consolidated Net In
- Page 14 and 15: Analysis of the Consolidated Net In
- Page 16 and 17: Analysis of the Consolidated Perfor
- Page 18 and 19: Analysis of the Consolidated Net In
- Page 22 and 23: 22 Management Discussion and Analys
- Page 24 and 25: Pro Forma Financial Statements by S
- Page 26 and 27: Pro Forma Financial Statements by S
- Page 28 and 29: Itaubanco - Branch BankingThe state
- Page 30 and 31: Insurance, Pension Plan and Capital
- Page 32 and 33: Insurance, Pension Plan and Capital
- Page 34 and 35: Investment Funds and Managed Portfo
- Page 36 and 37: ItaucredThe following tables are ba
- Page 38 and 39: ItaucredVehiclesThe Vehicle segment
- Page 40 and 41: Risk ManagementMarket RiskBanco Ita
- Page 42 and 43: Risk ManagementCredit RiskCredit Op
- Page 44 and 45: Analysis of the Consolidated Balanc
- Page 46 and 47: Activities AbroadTrade Lines Raisin
- Page 48 and 49: Ownership StructureOwnership Struct
- Page 50: PricewaterhouseCoopersAv. Francisco
Pro Forma Financial StatementsStatementsProncialFormaStatFinancialPro Form21 <strong>Management</strong> <strong>Discussion</strong> and <strong>Analysis</strong>Banco Itaú Holding Financeira S.A.