SAO PAULO, BRAZIL--(Marketwire - October 26, 2010) - Banco Daycoval S.A. ("Banco Daycoval", "Daycoval" or "the Bank") (BOVESPA: DAYC4) (ADR Level 1: BDYVY), announced today the results for the third quarter of 2010 (3Q10). Except where otherwise stated, the financial and operating information herein is presented on a consolidated basis and in Brazilian Reais.
3Q10 Highlights
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Net Income of R$ 85 million in 3Q10, significant growth of 32.4% over the previous quarter
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Return on Average Equity (ROAE) at 21.4%, rising 5.4 pp compared to the previous quarter
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Net Adjusted Financial Margin (NIM-A) (1) up to 14.8% in 3Q10, increasing 3.1 pp over the previous quarter
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Credit Portfolio (2) increasing 14.5% to a balance of R$ 5,546.2 million in the past three months, representing 46.7% growth over the past 12 months
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Middle Market rising 18.7% compared to the previous quarter, thereby further increasing its share of the mix, reaching 65.4% of the total credit portfolio
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Efficiency Ratio remaining at an appropriate level, at 20.4%, demonstrating adequate management of operating costs
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Basel Ratio at 21.2%, a 1.1 pp reduction during the quarter, remaining at a high level
(1) New methodology excluding repurchase agreements -- tri-party repos outstanding
(2) Includes assignments, sureties and avals and receivables purchase.
Earnings Release Results:
http://www.daycoval.com.br/Daycoval_RI/Site/Arquivos/Pdf/ENG%20Release_3Q10%20261010.pdf
Conference Call
(only in portuguese)
October 27, 2010 - Wednesday
08:00 am (NY) - Portuguese
Telephone: (+55) 11 4688-6361*
Code: Banco Daycoval
* Please access 10 minutes prior to the start of the call
To download the Earnings Release and access the webcast with a slide presentation of the conference call, please enter our website: www.daycoval.com.br/ri (English)
Contact Information:
IR Contact
Daniela Warchavsky - Superintendent
Erich Romani - Manager
Natalie Ramalhoso - Analyst
Tel.: (55 11) 3138 1024 / 1039 / 1025
ri@daycoval.com.br