-- Recurring Net Income in 2008 totaled R$237.0 million, for growth of
2.6% compared with 2007, resulting on a Recurring ROAE of 14.9% in the
year versus 23.2% in 2007. In the 4Q08, Recurring Net Income amounted
of R$36.7 million and Recurring ROAE was 9,4%;
-- Net interest margin (NIM) improved 1.6 percentage points (pp), rising
to 11.4% in the fourth quarter of 2008 (4Q08) from 9.8% in 3Q08, mainly
owing to the impact of repricing in the Bank's various operating
segments. NIM of 2008 was 10.6%;
-- Income from loans operations totaled R$311.2 million in 4Q08, showing
slight change compared with 3Q08 despite a 19.9% drop in credit
portfolio volume (excluding assignments) in the same period;
-- Raise of US$28.0 million in 4Q08 from the external line of credit up
to 3 years maturity with the US Department of Agriculture´s Export
Credit Guarantee Program (GSM-102), provided in a period of reduced
foreign funding liquidity and high volatility in the financial market;
-- Improve of the coverage index (amount of provision on past-due
operations above 60 days) from 128.7% in 3Q08 to 144.3% in 4Q08,
reflecting the higher increase on provisions compared with past-due
operations during the quarter;
-- Maintenance of net cash on R$1.1 billion reinforces Daycoval's
conservative strategy and liquidity;
-- Ratio of credit portfolio to equity of 2.2x and Basel Index of 28.2%,
demonstrating low leverage and high capitalization.
-- Conference Call in english
February 18, 2008
12 noon (BR) (10.00 am US EST)
Dial-In Number: +1 (412) 858 4600 / +1 (800) 860 2442
Code: Banco Daycoval
-- For additional information access website: ir@daycoval.com.br
http://www2.marketwire.com/mw/release_html_b1?release_id=475078
Contact Information: Contact Information: Investor Relations + 55 11 3138 1025/1024 E-mail ir@daycoval.com.br