Financial Data and Key Metrics Changes - The company reported a consolidated net income of BRL 46.8 billion for 2025, doubling the value created compared to 2021, with a significant increase in ROE from 19.3% in 2021 to 23.4% [8][9] - The efficiency ratio improved from 44% to 38.8%, indicating a strong focus on cost management and operational efficiency [8][9] - The company distributed BRL 105 billion in cash dividends, resulting in a payout ratio of 57.9% [8] Business Line Data and Key Metrics Changes - The loan portfolio grew by 40% during the period, with a significant de-risking of certain portfolios to enhance quality and support future growth [7] - Retail banking saw a migration of 15 million clients to the Super App, achieving an NPS of 80 points, indicating strong client satisfaction [12] - In the insurance segment, recurring results increased by 130%, more than doubling outcomes in the period [13] Market Data and Key Metrics Changes - The corporate segment achieved BRL 1 trillion in transaction volume in acquiring, maintaining market leadership in credit and acquiring [14] - The company closed the year with a 26% market share and BRL 124 billion in originated transactions in Wholesale Banking [15] - Wealth Management Services reached BRL 4.1 trillion in assets under management, with a 15% growth in the fourth quarter [16][17] Company Strategy and Development Direction - The company emphasizes client centricity, risk management, and capital allocation as core pillars of its management model [3][4] - A significant focus on technology modernization and digital transformation has been highlighted as a critical enabler for scalability and efficiency [5][6] - The company aims to maintain a long-term perspective while adapting to market changes and leveraging opportunities in emerging technologies [38][39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing a strong risk management culture and a healthy portfolio operating at historically low credit cost levels [54] - The company anticipates a dynamic environment in 2026, with GDP growth projected at 1.9% and a potential interest rate cut starting in March [49][50] - The guidance for 2026 includes expected credit portfolio growth between 5.5% and 9.5%, with a focus on maintaining profitability and efficiency [50][51] Other Important Information - The company achieved a 99% reduction in incidents due to its modernization agenda, significantly enhancing operational efficiency [11] - The company has implemented reclassifications in its financial reporting to better reflect management practices, with no changes to the total results [44][45] Q&A Session Summary Question: Can the bank maintain ROI at 24%-25%? - Management indicated that while they do not provide long-term ROI guidance, they expect profitability to remain strong and close to 2025 levels, with a focus on maintaining a spread over the cost of capital [56][57] Question: What about the bank's leverage and capital management? - Management acknowledged the importance of maintaining a strong capital base and indicated that discussions about leverage are ongoing, particularly in light of potential volatility in the market [61][62] Question: Will 2026 capture a relevant change in the cost base? - Management confirmed that the bank is capturing efficiencies from previous investments in technology and operational improvements, which are expected to enhance profitability and efficiency moving forward [63][64]

Financial Data and Key Metrics Changes - The company reported a consolidated net income of BRL 46.8 billion for 2025, doubling the value created compared to 2021, with a significant increase in ROE from 19.3% in 2021 to 23.4% [7][8] - The efficiency ratio improved from 44% to 38.8%, indicating better cost management relative to revenue growth [7][8] - The company distributed BRL 105 billion in cash dividends, resulting in a payout ratio of 57.9% [7] Business Line Data and Key Metrics Changes - The loan portfolio grew by 40% during the period, with a significant de-risking of certain portfolios to enhance quality and support future growth [6] - In retail banking, the company migrated 15 million clients to a Super App, achieving an NPS of 80 points, and saw substantial transaction volumes from new features [11][12] - The corporate segment reached BRL 1 trillion in transaction volume, maintaining leadership in credit and acquiring [13][14] Market Data and Key Metrics Changes - The company achieved a 26% market share in wholesale banking, with BRL 124 billion in originated transactions [14] - In the insurance segment, recurring results increased by 130% year-over-year, indicating strong growth prospects [12] - The company reported a 5% improvement in payment and collection volumes, reflecting a strong market position [26] Company Strategy and Development Direction - The company emphasizes client centricity, risk management, and capital allocation as core pillars of its management model [3][4] - A significant focus on technology modernization and digital transformation has been highlighted as a key enabler for scalability and efficiency [5][6] - The company aims to maintain a long-term perspective while optimizing operational efficiency and expanding its service offerings [4][5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing a strong risk management culture and a healthy portfolio operating at historically low credit costs [50][51] - The company anticipates some volatility in the upcoming year but remains focused on capturing opportunities for growth [51] - Guidance for 2026 includes expectations for credit portfolio growth between 5.5% and 9.5%, with net interest income projected to grow between 5% and 9% [48][49] Other Important Information - The company achieved a 99% reduction in incidents due to its modernization agenda, significantly enhancing operational efficiency [10] - The company has a diversified business portfolio, with 18% of assets and 8% of results coming from outside Brazil [36] - The CET1 ratio was reported at 12.3% as of December 2025, indicating strong capital performance [39] Q&A Session Summary Question: Is the current ROI level of 24%-25% sustainable? - Management indicated that while they do not provide long-term ROI guidance, they expect profitability to remain strong and close to 2025 levels, with a focus on maintaining a spread over the cost of capital [54][55] Question: What are the future levers for efficiency and cost structure? - Management confirmed that investments in technology and digitalization are expected to yield operational efficiencies, allowing for a more streamlined cost structure moving into 2027 [60][61]

Financial Data and Key Metrics Changes - The consolidated net income for 2025 reached BRL 46.8 billion, doubling the value created compared to 2021, with a significant increase in ROE from 19.3% in 2021 to 23.4% [8][9] - The efficiency ratio improved from 44% to 38.8%, indicating a strong focus on cost management and operational efficiency [8][9] - The company distributed BRL 105 billion in cash dividends, resulting in a payout ratio of 57.9% [8] Business Line Data and Key Metrics Changes - The loan portfolio grew by 40% during the period, with a significant de-risking of certain portfolios to enhance quality [6][7] - In retail banking, the migration of 15 million clients to the Super App resulted in an NPS of 80 points, reflecting improved client experience [12] - The corporate segment achieved BRL 1 trillion in transaction volume in acquiring, maintaining market leadership in credit and acquiring [15] Market Data and Key Metrics Changes - The company achieved a 26% market share in wholesale banking, with BRL 124 billion in originated transactions [16] - In the insurance segment, recurring results increased by 130%, indicating strong growth prospects [13][14] - The bank's total shareholder return over the past five years has been outstanding, demonstrating its ability to deliver value [10] Company Strategy and Development Direction - The company emphasizes client centricity, risk management, and capital allocation as key pillars of its management model [3][4] - A significant investment in technology and digital transformation has been made to enhance operational scalability and efficiency [5][6] - The company aims to maintain a long-term perspective while optimizing its business model and service delivery [39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of ongoing technological advancements and the centralized data architecture [5] - The company anticipates a dynamic environment in 2026, with expected GDP growth of 1.9% and a year-end Selic rate of 12.75% [48][49] - Management highlighted the importance of maintaining a strong capital base to navigate potential volatility in the market [52] Other Important Information - The company achieved a 99% reduction in incidents due to its modernization agenda, significantly enhancing operational efficiency [11] - The bank's delivery speed increased by 2,600%, showcasing a transformational shift in service delivery [11] - The company plans to continue investing in technology and digitalization to enhance client service and operational efficiency [64] Q&A Session Summary Question: Can the bank maintain ROI at 24%-25%? - Management indicated that they are optimistic about maintaining profitability levels close to those observed in 2025, but they do not provide long-term ROI guidance [54][55] Question: Will there be a review of leverage? - Management acknowledged the importance of maintaining a strong capital base and indicated that discussions about leverage are ongoing, but no immediate changes are expected [56][60] Question: How will efficiency improvements impact future performance? - Management confirmed that investments in technology and operational efficiency are expected to yield significant benefits, leading to a more streamlined cost structure [61][63]