1. Public Meeting with
Analysts and Investors
November 24, 2011
Free translation from the original in Portuguese

2. Disclaimer
This presentation may contain references and statements representing future
expectations, plans of growth and future strategies of BI&P.
These references and statements are based on the Bank’s assumptions and analysis
and reflect the management’s beliefs, according to their experience, to the economic
environment and to predictable market conditions.
As there may be various factors out of the Bank’s control, there may be significant
differences between the real results and the expectations and declarations herewith
eventually anticipated. Those risks and uncertainties include, but are not limited
to, our ability to perceive the dimension of the Brazilian and global economic
aspect, banking development, financial market conditions, competitive, government
and technological aspects that may influence both the operations of BI&P, as the
market and its products.
Therefore, we recommend the reading of the documents and financial statements
available at the CVM website (www.cvm.gov.br) and at our Investor Relations page in
the internet (www.indusval.com.br/ir) and the making of your own appraisal.
2

3. Agenda
• 44 years of transformation and partnerships
• BI&P - Banco Indusval & Partners, a new stage
• Short Term Results X Long Term Project
• BI&P and Peers
• Credit and the National Financial System
• Sustainability
3

4. HISTORY
44 years of Transformations and Partnerships
1967 2003
Brokerage firm Merger with Banco
founded Multistock, creating
1991
Banco Indusval Banco Indusval Multistock 2004
starts operations Sale of the
Consumer Credit
Operation and
2006 Capital increase
Expansion to 2010
other regions Strategic review together
in Brazil with McKinsey
2007 2011
IPO and opening of BI&P – Banco
6 new branches Indusval & Partners
New partners and
management strengthening
4

5. BI&P - BANCO INDUSVAL & PARTNERS
BI&P was born in March 2011
• R$ 201 million (tier I) capital increase, on 03.30.2011, raising Basel Ratio
to 24%.
• New partners: Warburg Pincus & Sertrading Controllers.
• Acquisition of 17.7% in Sertrading’s capital and 5-year operational
agreement, with first right of refusal for the purchase of receivables
originated by Sertrading.
• Acquisition of Serglobal Cereais, agricultural notes originator.
• Credit line granted by J.P. Morgan and possibility of a future preferred
share acquisition equivalent to 2.5% of the Bank’s capital.
• Strong additions to the management team.
5

6. NEW PARTNERSHIPS
Strategic partnerships add expertise and relationships
• Global leading private equity firm founded in • Leading Brazilian import-export service
1966 company, with business with more than 90
countries
• Invested more than $35 billion in equity in over
650 companies in 30+ countries • Founded in 2001 by former controlling
shareholders of Cotia Trading
• Current portfolio includes 110 companies
• R$ 1.7 billion transacted during 2010, 45%
• Extensive expertise in the financial sector, having annual growth in the past 5 years, R$ 30 million
invested approximately US$ 8.0 billion in over 70 EBITDA and R$ 13 million Net Income.
financial institutions • Branches in São Paulo, several Brazilian ports and
China
• Granted a US$ 25 MM 2-year credit facility to the bank
JP Morgan • Agreed to purchase 5-year warrants for subscription of new non-voting shares
(equity) of the Company corresponding to 2.5% of the Company’s corporate capital.
6

7. CAPITAL STRUCTURE
CONTROLLING GROUP FREE FLOAT JP Morgan
Subscription rights
Manoel Warburg Pincus Other for 2.5% of the
Luiz Masagão Jair Ribeiro ON = 13% ON = 31% bank’s capital in
Cintra
PN = 43% PN = 51% preferred shares
Total = 26% Total = 39%
Carlos Antonio G. da Treasury shares
ON = 56% ON= 44%
Ciampolini Rocha PN = 3% PN= 94% PN = 3%
Total = 34% Total= 65% Total = 1%
17.7% 100.0% 100.0%
Serglobal
82.3%
Cereais
Alfredo de Goeye, Jair Ribeiro
MSE Ind. e Com. + Other
7

8. Como está distribuído nosso capital?
CAPITAL DISTRIBUTION
Number of Controlling Free Float
Class Management Treasury
shares Group # Shares %
Common 36.945.649 (20.743.334) (277.317) - 15.924.999 43.1%
Preferred 26.160.044 (737.326) (60.125) (746.853) 24.615.740 94.1%
TOTAL 63.105.693 (21.480.659) (337.442) (746.853) 40.540.739 64.2%
Management +
Treasury Institutional
2% Investors
Controlling 14%
Group
34%
Foreign Investors
30%
Individuals &
Corporates
20%
8

9. CORPORATE GOVERNANCE
Experienced team of leaders
Board of Directors
Manoel Felix Cintra Neto
Antonio Geraldo da Rocha
Carlos Ciampolini
Jair Ribeiro da Silva Neto
Luiz Masagão Ribeiro
Alain J.P. Belda (former CEO Alcoa Co.)
Alfredo de Goeye Junior (CEO Sertrading)
Guilherme Afonso Ferreira (CEO Bahema Part.)
Walter Iório (former partner KPMG)
9

10. CORPORATE GOVERNANCE
Professionals of proven competence strengthen the Bank’s management
Executive Board
Co-CEO - co-founder and former CEO of Banco Patrimônio (JV with Salomon
Jair Ribeiro Brothers); former CEO of Chase Manhattan (Brazil) and MD of J.P. Morgan
(N.Y.); co-founder and CEO of CPM-Braxis (Brazil’s largest IT service company).
Co-CEO – former Chairman of Banco Indusval and BM&F. and member of the
Luiz Masagão
Executive Board of ANBIMA
Commercial Area VP – former partner and MD at BBA and Itaú BBA (18 years);
Francisco Cote Gil
former MD of Banco Crefisul/Citibank.
Treasury VP – former Treasurer of ING (Brazil); partner of Blackriver Asset Mgt
Gil Faiwichow
(Cargill); co-founder and Treasurer of Banco Rendimento
Products & Corporate Finance VP – former COO of Cotia Trading (Argentina);
André Mesquita
co-founder of Sertrading; former CFO of CPM Braxis
Trade Finance, Funding, Syndications & IR VP – former MD of Banco
Katia Moroni
Santander, Banco Multiplic e Barclays.
Local Funding Officer – managed the local funding areas of Multiplic, BCN
Jair Balma
Barclays, Multistock and Indusval.
Corporate Credit Officer – former credit officer at BankBoston, ING, WestLB
Claudio Cusin
and Banco Standard de Investimentos
Middle Market Credit Officer – former Sudameris and BMG, 17 years with
Eliezer Ribeiro
Indusval.
10

11. ORGANIZATIONAL STRUCTURE
Chairman
Manoel Felix Cintra Neto
Special Credits
EXECUTIVE OFFICE
CEO CEO
Jair Ribeiro Luiz Masagão Ribeiro
Trade Finance Commercial Credit Risk Management
Francisco Cote Gil
Middle Market Corporate
Funding Eliezer R. da Silva Claudio Cusin
Products &
Structured Finance Compliance &
Syndications André Mesquita Accounting & Controlling
Internal Controls
Administrative Legal
Investor Relations Treasury
Gil Faiwichow Information Technology Human Resources
Kátia Moroni
11

12. VISION
To be an innovative bank, with excellence in
corporate credit and deep understanding of our
clients’ businesses, seeking also to become one
of the leading players of the high-
growth, domestic corporate bond market.
12

13. VALUES
Ethics
Excellence
Ownership Attitude
Teamwork
Focus on Results
Credibility
Innovation
13

14. STRATEGY
Business repositioning:
– Middle Market
– Corporate
Commercial area strengthening;
Multi-product offering;
Franchise value creation in certain production chains;
Improved management of goals and results.
14

15. TARGET CUSTOMERS
Middle Market: annual revenues from R$40 to R$400 million
• Potential Market: 15.000 companies
• Current Portfolio: 783 clients
• Targeted account load: 25 clients/ relationship manager
Corporate: annual revenues above R$400 million up to R$2,0 billion
• Potential Market: 1.500 clients
• Current Portfolio: 80 clients
• Targeted account load: 20 clients/ relationship manager
15

16. PRODUCTS
16

17. DISTRIBUTION
Branch Network:
– Headquartered in São Paulo
– 10 branches in the regions of greatest
economic potential, providing national
coverage
– 1 offshore branch
385 Employees (Bank + Brokerage)
– 40 interns
17

18. Results begin to reflect the effects
of the New Strategy

19. CREDIT PORTFOLIO
Resuming growth with quality assets
2,248
2,109
1,941 1,994
1,684
R$ million
3Q10 4Q10 1Q11 2Q11 3Q11
Loans in Reais Trade Finance Guarantees
Agricultutal Notes Promissory Notes
19

20. CREDIT PORTFOLIO
Expansion in Corporate Clients
Middle 3Q11
Market
76% Middle Market : volume maintained despite
quitting lower quality credit.
Corporate: already account for 21% of the
Corporate loan portifolio with 35% volume growth in the
Others
3%
21% quarter.
Middle 2Q11
Market New Loans with adequate quality and
80%
margins, both by the new team strategy and
the lower peers’ appetite for their higher
leverage.
Others Corporate
4% 16%
20

21. CREDIT PORTFOLIO
New products introduction from 2Q11
Loans and
15 new products approved in the past six Discounts
months, with emphasis on: 64%
– Customer receivable acquisition through
assignment agreements;
Others
– Full range of BNDES Onlending products; 1% BNDES
Agro and 8%
Promissory
Trade
– Agricultural products operations for Notes Guarantees
Finance
(CPRs/NPs) issued
physical and financial settlement. 2% 5% 20%
21

22. CREDIT PORTFOLIO
Low impact on Customer Exposure and Tenors
Other 10 largest
22% 19%
Concentration in the 60 largest borrowers dropped
by 2 p.p. during the quarter.
Average exposure by customer:
11 - 60
61 - 160
32% – Middle Market = R$ 2.4 million;
27%
– Corporate = R$ 5.6 million.
+360 days 70% of the loan portfolio to mature up to 360 days.
30%
Up to 90
days The industrial segment responds for 56% of the loans
33% granted, while service providers account for 23% and
commercial companies 12%.
181 to 360
15%
91 to 180
22%
22

23. CREDIT PORTFOLIO
Significant presence of Agribusiness and Food related activities
8% Agribussiness
1% Food & Beverage
1% 18%
2% Civil Construction
2% Automotive
2% Financial Institutions
3% Transportation & Logistics
Textile, Apparel and Leather
3% Chemical & Pharmaceutical
Power Generation & Distribution
3%
Education
16% Oil & Biofuel
3%
Metal Industry
3% Pulp & Paper
Financial Services
3% Individuals
Advertising & Publishing
4% Retail & Wholesale
Wood & Furniture
4% 14% Other Industries
5%
5%
23

24. CREDIT PORTFOLIO
94% of loans in normal payment flow
C
20.7% D-H 6.8% Normal Loans rated between D and H include
13.1% Payments
renegotiated loans, even in normal
AA
3.5% payment performance, and are
equivalent to 6.8% of total portfolio;
B
A
29.7%
33.0%
Non performing loans 60+ days
represent 6.3% of total portfolio; and
Pledge /
Receivables Lien
44% 6%
Monitored
90+ days overdue loans account for 4.1%
Pledge
7%
of the portfolio.
Securities
2%
Real State
8%
Aval PN Vehicles
30% 3%
24

25. CREDIT PORTFOLIO
Stronger Provisions improve default coverage
6.3%
Higher default levels related to transactions 4.6% 4.1%
3.3%
with medium-sized companies booked in 2.5%
previous years.
Additional Provisioning of R$67.2 million in 3Q10 4Q10 1Q11 2Q11 3Q11
March 2011 to cope with those operations.
212.6 196.6
169.5
Provisions cover 8% of the credit portfolio and 119.6
112.2
2 times 90+ days overdue loans.
R$ Million
Special Credit VP, subordinated to the
Chairman, was created to renegotiate loans 3Q10 4Q10 1Q11 2Q11 3Q11
and recover deficit credits.
Executive management focused on business 2.6x 2.4x
growth with higher credit quality and increased 2.0x
1.6x
2.0x
profitability for better efficiency.
3Q10 4Q10 1Q11 2Q11 3Q11
25

26. FUNDING
Follows Loan Portfolio growth and ensures Liquidity
2,420
2,247 2,230
2,031
1,903
R$ million
3Q10 4Q10 1Q11 2Q11 3Q11
Time Deposits (CDBs) Insured Time Deposit (DPGE) Agro & Financial Notes
Onlendings Other Deposits & Borrowings Trade Finance
Foreign Borrowings
26

27. FUNDING
Sources diversification to reduce costs
Local Funding responds for 80% of total sources.
Gradual change in the funding mix and expansion
Onlendings
8% of depositor base allows the reduction of local
Time
Deposits funding costs despite deteriorated scenario.
Foreign (CDBs)
Borrowings 29% – Time Deposits (DPGE and CBDs) reduced to
20%
60% of total funding compared to 62% in
June/11 and 67% in March.
Interbank
Deposits
3% Trade Finance funding responds for 87% of foreign
Demand
Deposits Insured Time borrowings.
2% Agro & Deposits
Financial (DPGE) External lines contracted and costlier for the Euro
Notes 31%
7%
zone crisis deepening.
27

28. LIQUIDITY
53% of Deposits in cash, Funding with extended tenors
1,027
923 914 Assets Liabilities 1,046
733
680 746 763
662
483
264 290 285
R$ million
R$ million
3Q10 4Q10 1Q11 2Q11 3Q11 90 days 180 days 360 days above 360 days
28

29. PROFITABILITY
Net Interest Margin
8.5%
7.9%
6.8%
6.5% 6.3%
5.9%
5.2%
4.6% 4.6%
NIM NIM(a) 3.7%
3Q10 4Q10 1Q11 2Q11 3Q11
Net Interest Margin 2Q11 3Q11 3Q11/ 2Q11 9M10 9M11 9M11/ 9M10
A. Result from Financial Int. before ALL 37.4 45.0 20.4% 142.6 121.3 -15.0%
B. Average Interest bearing Assets 4,084.3 3,971.7 -2.8% 2,813.6 3,879.7 37.9%
Adjustment for non-remunerated average
(1,161.4) (1,058.9) -8.8% (518.4) (1,044.7) 101.5%
Assets1
B.a Adjusted Average Interest bearing Assets 2,923.0 2,912.8 -0.3% 2,295.2 2,835.0 23.5%
Net Interest Margin (NIM) (A/B) 3.7% 4.6% 0.9 p.p. 10.4% 4.2% -6 p.p.
Adusted Net Interest Margin (NIMa) (A/Ba) 5.2% 6.3% 1.1 p.p. 8.4% 5.7% -2.7 p.p.
1
Repos with amounts, maturities and rates equivalent both in assets and liabilities
29

30. EFFICIENCY
Growth under controlled expenses have positive effects on efficiency
78.6%
75.8%
72.3% 71.2%
64.4%
60.0%
Efficiency Recurring Efficiency
3Q10 4Q10 1Q11 2Q11 3Q11
Efficiency Ratio 2Q11 3Q11 3Q11/2Q11 9M10 9M11 9M11/9M10
Personnel Expenses + Profit-sharing 16.8 19.5 15.8% 47.8 52.3 9.4%
Operating Expenses 16.4 20.4 24.4% 42.0 52.2 24.3%
A1- Recurring Operating Expenses 33.2 39.9 20.2% 89.8 104.5 16.4%
A2- Non-Recurring Op. Expenses 1 1.2 - - 0.4 3.9 -
A- Total Operating Expenses 34.4 39.9 16.0% 90.2 108.4 20.2%
Gross Income Fin. Intermediation (before ALL) 37.4 45.0 20.4% 142.6 121.3 -15.0%
Income from Services Rendered 4.3 5.7 32.9% 9.4 13.7 49.6%
Other Operating Income 2.1 5.4 162.4% 2.2 8.3 282.9%
B- Total Operating Income 43.8 56.1 28.0% 154.2 143.2 -7.1%
Recurring Efficiency Ratio(A1/B) 75.8% 71.2% -4.6 p.p. 58.2% 73.0% 14.7 p.p.
Efficiency Ratio (A/B) 78.5% 71.2% -7.4 p.p. 58.5% 75.7% 17.2 p.p.
1
lay-off and hiring expenses, strategic consulting, lawyers and auditing firms
30

31. PROFITABILITY
R$ 54.5 MM Loss in 1Q11 with increased provisions improving coverage
7.5 7.3
5.9
R$ million
5.1
3Q10 4Q10 1Q11 2Q11 3Q11
7.2 1.0
5.6 5.2 0.7 0.7
0.5
3.6 in %
in %
3Q10 4Q10 1Q11 2Q11 3Q11 3Q10 4Q10 1Q11 2Q11 3Q11
31

32. CAPITAL STRUCTURE
One of the best capitalized banks in the Brazilian Financial System.
Low leverage allows healthy growth
23.7
21.6 21.1 4.6x
19.9 4.1x 3.9x
3.5x 3.7x
17.6
in times
in %
3Q10 4Q10 1Q11 2Q11 3Q11 3Q10 4Q10 1Q11 2Q11 3Q11
32

33. BI&P AND PEERS
Ability to grow with quality and without significant fixed costs increase will
have positive effect on NIM and Efficiency
21.2%
Credit Portfolio Growth* 2011 Basel Index
19.6%
29.7%
20.5%
15.8% 17.5% 17.6%
8.1% 16.6%
15.8%
-3.7% -11.8%
BI&P BIC ABC Daycoval Pine Sofisa BI&P BIC ABC Daycoval Pine Sofisa
ALL/ Credit Portfolio* Leverage
7.7% (Credit*/ Shareholders ‘ Equity)
8.6 x
7.0 x 6.7 x
4.4%
3.9% 3.8 x 4.1 x
3.1 x
2.3% 2.2%
1.1%
BI&P BIC ABC Daycoval Pine Sofisa BI&P BIC ABC Daycoval Pine Sofisa
* Expanded portifolio, including guarantees and other credits, based on data published by the Banks as of 09.30.2011
33

34. Credit and the
National Financial
System

35. CREDIT IN THE BRAZILIAN FINANCIAL SYSTEM
Economic development accelerates credit growth in the system
2.400
48.4% 50%
46.4%
44.4%
2.200 45%
40.5% 1,929
2.000
40%
1.800 35.2% 1,706
35%
1.600 30.9%
28.3% 1,414
1.400 30%
25.7% 1,227
1.200 25%
1.000 936
20%
800 733
in R$ billion
607 15%
600 499
10%
400
200 5%
0 0%
2004 2005 2006 2007 2008 2009 2010 Sep-11
Total Loans Credit X GDP
Source: Central Bank of Brazil
35

36. INCOME INCREASE AND ACCESS TO CREDIT
Faster growth in credit to individuals
1,929
1,706
1,414
1,227
54%
936
733
607 CAGR 20%
in R$ billion
in R$ billion
499
59% 46%
41% CAGR 23%
41%
2004 2005 2006 2007 2008 2009 2010 set/11
Individual Corporate
Source: Central Bank of Brazil
36

37. CORPORATE CREDIT
Prevalence: Working Capital and Earmarked Resources (BNDES)
1200
1000
800
in R$ billion
600
400
200
0
Overdarfts + Hot Money Real State
Durables Vendor
Leasing Rural
Other Pre-Export Fin.
Foreign Onlendings Import Financing
Source: Central Bank of Brazil Working Capital & Discounts Earmarked Resources (mostly BNDES)
37

38. CREDIT QUALITY INDICATORS
Potential default: delay between 15 and 90 days
12
10
7.9
8 7.7
6.4
in %
6
4 4.6
2 2.1
0
Total Individuals Total Corporate Personal Loans Asset Acquisition Vehicles
Source: Central Bank of Brazil
38

39. DEFAULT AND PROVISIONS
Conservative Provisions in relation to Total Default: +90 days delay
9
8
7 6.8
6
5 5.3
in %
4 3.8
3
2
1
0
Total Provisions Corporate Default Individual Default Total Default
Source: Central Bank of Brazil
39

40. LEVERAGE
Low indicators stand future growth
2.000 6,0
1.800
5,0
1.600
1.400 4.1 4.1 4.1 4.2 4.1 4.1 4.2 4.1
3.9 3.9 3.8 3.9 3.8 4.0 4,0
In R$ billion
1.200 3.7
in %
1.000 3,0
800
2,0
600
400
1,0
200
0 0,0
Loans Credit X Shareholder's Equity
40

41. PERSPECTIVES
National Financial System
Moderation in credit growth due to the macroeconomic environment.
Asset quality reflects its cyclical nature and pressures in specific segments.
Comfortable Reserves and Capital to withstand losses in stressful
situations.
Stable Local Funding and adequate Liquidity.
External funding impaired by the worsening of the Euro zone crisis.
41

42. BI&P and
Sustainability

43. BUSINESS SUSTAINABILITY
Being sustainable from our core business
Policy of Social and Environmental Responsibility
Encouraging the adoption of responsible attitudes towards:
Social development, citizenship rescue and Environmental Respect
Clients
Goals: Credit restriction to companies: Expectation:
To expand social and Using child labor, slavery or
environmental performance of alike; To contribute for the awareness
our customers; of people and enterprises about
With activities related to the importance of the rational
To development of social and gambling and prostitution; utilization of natural resources
environmental products - ABC
Operating in the production or and of the respect towards the
Program - BNDES already
marketing of substances social environment and
deployed;
threatening health and safety of citizenship
Quality in business relationships. people, animals and plants.
Social & Environmental Policy applied to credit
43

44. SUSTAINABILITY AND THE COMMUNITY
Education
Culture Sports
Community
Environment Development
Entrepreneuship
and Income
generation
44

45. SUSTAINABILITY AND THE WORKFORCE
Social and
Code of Ethics Environmental
Policy
Fair Benefits: Training ad
Compensation Safety, Health and Capabilities
Policy Life Quality Development
Professional
Social Inclusion Job opportunities for Intern and trainee
Training for Disabled
Initiatives youngsters programs
employees
Social &
Knowledge Leadership Volunteer
Environmental Sports Incentive
Dissemination Development Program
awareness
45