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v3.23.1

Fair value of financial instruments (Tables) | 12 Months Ended
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Dec. 31, 2022
Fair Value Of Financial Instruments |
Summary of Breakdown of Fair Value Hierarchy Levels |
Summary of Breakdown of Fair Value Hierarchy Levels |  |  |  |  |  |  |  |  |
| 12/31/2022 |  | 12/31/2021
| Level 1 | Level 2 | Level 3 | Book Value / Fair Value |  | Level 1 | Level 2 | Level 3 | Book Value / Fair Value
Financial Assets | 391,297 | 115,792 | 437 | 507,526 |  | 366,930 | 102,253 | 1,563 | 470,746
Financial assets at fair value through profit or loss | 274,659 | 111,436 | 379 | 386,474 |  | 262,912 | 100,649 | 1,563 | 365,124
Investment funds | 954 | 31,537 | - | 32,491 |  | 653 | 19,486 | - | 20,139
Brazilian government securities | 226,056 | 5,856 | - | 231,912 |  | 218,449 | 6,350 | - | 224,799
Government securities – other countries | 8,017 | - | - | 8,017 |  | 5,561 | - | - | 5,561
Corporate securities | 39,632 | 72,708 | 339 | 112,679 |  | 38,249 | 74,656 | 1,563 | 114,468
Shares | 5,817 | 9,634 | 86 | 15,537 |  | 14,355 | 5,002 | - | 19,357
Rural product note | - | 2,510 | 7 | 2,517 |  | - | 6,791 | 61 | 6,852
Bank deposit certificates | - | 360 | - | 360 |  | - | 150 | - | 150
Real estate receivables certificates | - | 1,329 | 151 | 1,480 |  | - | 1,009 | 3 | 1,012
Debentures | 29,446 | 33,412 | 84 | 62,942 |  | 18,638 | 45,672 | 1,478 | 65,788
Eurobonds and other | 4,369 | - | 4 | 4,373 |  | 5,244 | 1 | 8 | 5,253
Financial bills | - | 19,371 | 7 | 19,378 |  | - | 10,098 | 13 | 10,111
Promissory and commercial notes | - | 3,900 | - | 3,900 |  | - | 4,684 | - | 4,684
Other | - | 2,192 | - | 2,192 |  | 12 | 1,249 | - | 1,261
Other Financial Assets | - | 1,335 | 40 | 1,375 |  | - | 157 | - | 157
Financial assets at fair value through other comprehensive income | 116,638 | 4,356 | 58 | 121,052 |  | 104,018 | 1,604 | - | 105,622
Brazilian government securities | 69,951 | 1,032 | - | 70,983 |  | 68,457 | 1,185 | - | 69,642
Government securities – other countries | 37,910 | - | - | 37,910 |  | 30,194 | - | - | 30,194
Corporate securities | 8,777 | 3,324 | 58 | 12,159 |  | 5,367 | 419 | - | 5,786
Shares | 4,770 | 70 | 45 | 4,885 |  | 743 | - | - | 743
Rural product note | - | 390 | - | 390 |  | - | - | - | -
Bank deposit certificates | 551 | 150 | 13 | 714 |  | - | 131 | - | 131
Debentures | 538 | 645 | - | 1,183 |  | 134 | 217 | - | 351
Eurobonds and other | 2,918 | 1,361 | - | 4,279 |  | 4,490 | 8 | - | 4,498
Financial credit bills | - | 13 | - | 13 |  | - | 6 | - | 6
Other (Corporate securities) | - | 695 | - | 695 |  | - | 57 | - | 57
Financial liabilities at fair value through profit or loss | - | 647 | - | 647 |  | - | 275 | - | 275
Structured notes | - | 64 | - | 64 |  | - | 114 | - | 114
Other financial liabilities | - | 583 | - | 583 |  | - | 161 | - | 161
Summary of Breakdown of Fair Value Hierarchy Levels for Derivative Assets and Liabilities |
Summary of Breakdown of Fair Value Hierarchy Levels for Derivative Assets and Liabilities |  |  |  |  |  |  |  |  |
| 12/31/2022 |  | 12/31/2021
| Level 1 | Level 2 | Level 3 | Total |  | Level 1 | Level 2 | Level 3 | Total
Assets | 29 | 77,508 | 671 | 78,208 |  | 6 | 68,887 | 152 | 69,045
Swap Contracts – adjustment receivable | - | 46,271 | 631 | 46,902 |  | - | 37,924 | 90 | 38,014
Option Contracts | - | 23,637 | 34 | 23,671 |  | 3 | 21,187 | 62 | 21,252
Forward Contracts | - | 595 | 6 | 601 |  | - | 3,111 | - | 3,111
Credit derivatives | - | 492 | - | 492 |  | - | 242 | - | 242
NDF - Non Deliverable Forward | - | 6,140 | - | 6,140 |  | - | 5,943 | - | 5,943
Other derivative financial instruments | 29 | 373 | - | 402 |  | 3 | 480 | - | 483
Liabilities | (186) | (76,106) | (569) | (76,861) |  | (3) | (63,076) | (125) | (63,204)
Swap Contracts – adjustment payable | - | (38,507) | (561) | (39,068) |  | - | (34,535) | (111) | (34,646)
Option Contracts | - | (29,880) | (2) | (29,882) |  | (2) | (22,531) | (14) | (22,547)
Forward Contracts | - | (65) | - | (65) |  | - | (762) | - | (762)
Credit derivatives | - | (604) | - | (604) |  | - | (198) | - | (198)
NDF - Non Deliverable Forward | - | (6,626) | - | (6,626) |  | - | (4,896) | - | (4,896)
Other derivative financial instruments | (186) | (424) | (6) | (616) |  | (1) | (154) | - | (155)
In all periods, there was no significant transfer between Level 1 and Level 2. Transfers to and from Level 3 are presented in movements of Level 3.
Schedule of level 3 recurring fair value changes |
Schedule of level 3 recurring fair value changes |  |  |  |  |  |  |  |
| Fair value at | Total gains or losses (realized / unrealized) | Purchases | Settlements | Transfers in and / or out of Level | Fair value at | Total Gains or Losses (unrealized)
######## | 12/31/2021 | Recognized in income | Recognized in other comprehensive income | 12/31/2022
Financial assets at fair value through profit or loss | 1,563 | 46 | - | 143 | (49) | (1,324) | 379 | (98)
Corporate securities | 1,563 | 21 | - | 128 | (49) | (1,324) | 339 | (138)
Shares | - | (54) | - | - | - | 140 | 86 | (62)
Real estate receivables certificates | 3 | (36) | - | 2 | (2) | 184 | 151 | (60)
Debentures | 1,478 | 109 | - | 96 | - | (1,599) | 84 | (7)
Rural Product Note | 61 | 3 | - | - | (1) | (56) | 7 | (9)
Eurobonds and other | 8 | (1) | - | 11 | (14) | - | 4 | -
Financial bills | 13 | - | - | 19 | (32) | 7 | 7 | -
Other financial assets | - | 25 | - | 15 | - | - | 40 | 40
Financial assets at fair value through other comprehensive income | - | (2) | - | 47 | - | 13 | 58 | -
Corporate securities | - | (2) | - | 47 | - | 13 | 58 | -
Shares | - | (2) | - | 47 | - | - | 45 | -
Bank deposit certificates | - | - | - | - | - | 13 | 13 | -
| Fair value at | Total gains or losses (realized / unrealized) | Purchases | Settlements | Transfers in and / or out of Level | Fair value at | Total Gains or Losses (unrealized)
| 12/31/2021 | Recognized in income | Recognized in other comprehensive income | 12/31/2022
Derivatives - assets | 152 | 178 | 64 | 234 | (552) | 595 | 671 | 588
Swap Contracts – adjustment receivable | 90 | 151 | 64 | - | (73) | 399 | 631 | 608
Option Contracts | 62 | 27 | - | 228 | (479) | 196 | 34 | (20)
Foiward contracts | - | - | - | 6 | - | - | 6 | -
Derivatives - liabilities | (125) | 48 | (132) | (85) | 38 | (313) | (569) | (349)
Swap Contracts – adjustment payable | (111) | (25) | (132) | - | 21 | (314) | (561) | (350)
Option Contracts | (14) | 73 | - | (79) | 17 | 1 | (2) | 1
Other derivative financial instruments | - | - | - | (6) | - | - | (6) | -
| Fair value at | Total gains or losses (realized / unrealized) | Purchases | Settlements | Transfers in and / or out of Level | Fair value at | Total Gains or Losses (unrealized)
######## | 12/31/2020 | Recognized in income | Recognized in other comprehensive income | 12/31/2021
Financial assets at fair value through profit or loss | 1,968 | (505) | - | 1,993 | (865) | (1,028) | 1,563 | (434)
Corporate securities | 1,968 | (505) | - | 1,993 | (865) | (1,028) | 1,563 | (434)
Real estate receivables certificates | 548 | (167) | - | 1,039 | (616) | (801) | 3 | -
Debentures | 1,350 | (313) | - | 855 | (211) | (203) | 1,478 | (432)
Rural Product Note | 64 | (15) | - | 62 | (32) | (18) | 61 | -
Eurobonds and other | - | (9) | - | 23 | (6) | - | 8 | (2)
Financial bills | 6 | (1) | - | 14 | - | (6) | 13 | -
| Fair value at | Total gains or losses (realized / unrealized) | Purchases | Settlements | Transfers in and / or out of Level | Fair value at | Total Gains or Losses (unrealized)
| 12/31/2020 | Recognized in income | Recognized in other comprehensive income | 12/31/2021
Derivatives - assets | 105 | 46 | - | 327 | (284) | (42) | 152 | 56
Swap Contracts – adjustment receivable | 93 | 26 | - | 56 | (43) | (42) | 90 | 90
Option Contracts | 12 | 20 | - | 271 | (241) | - | 62 | (34)
Derivatives - liabilities | (110) | 72 | - | (233) | 148 | (2) | (125) | (24)
Swap Contracts – adjustment payable | (109) | 8 | - | (30) | 22 | (2) | (111) | (46)
Option Contracts | (1) | 64 | - | (203) | 126 | - | (14) | 22
Summary of Sensitivity Analyses Operations of Level 3 |
Summary of Sensitivity Analyses Operations of Level 3 |  |  |  |
Sensitivity – Level 3 Operations |  | 12/31/2022 |  | 12/31/2021
Market risk factor groups | Scenarios | Impact |  | Impact
Income | Stockholders' equity |  | Income | Stockholders' equity
Interest rates | I | (2.2) | - |  | (1.5) | -
II | (56.9) | - |  | (38.2) | -
III | (113.3) | - |  | (76.4) | -
Commodities, Indexes and Shares | I | (6.7) | - |  | - | -
II | (13.4) | - |  | - | -
Nonlinear | I | (24.8) | - |  | (56.5) | -
II | (37.8) | - |  | (93.3) | -
The following scenarios are used to measure sensitivity:
Interest rate
Based on reasonably possible changes in assumptions of 1, 25 and 50 basis points (scenarios I, II and III respectively) applied to the interest curves, both up and down, taking the largest losses resulting in each scenario.
Commodities, Index and Shares
Based on reasonably possible changes in assumptions of 5 and 10 percentage points (scenarios I and II respectively) applied to share prices, both up and down, taking the largest losses resulting in each scenario.
Nonlinear
Scenario I: Based on reasonably possible changes in assumptions of 5 percentage points on prices and 25 percentage points on the volatility level, both up and down, taking the largest losses resulting in each scenario.
Scenario II: Based on reasonably possible changes in assumptions of 10 percentage points on prices and 25 percentage points on the volatility level, both up and down, taking the largest losses resulting in each scenario.
Summary of Carrying and Estimated Fair Values for Financial Instruments |
Summary of Carrying and Estimated Fair Values for Financial Instruments |  |  |  |  |
| 12/31/2022 |  | 12/31/2021
| Book value | Fair value |  | Book value | Fair value
Financial assets | 1,586,992 | 1,588,402 |  | 1,375,782 | 1,376,534
At Amortized Cost | 1,586,992 | 1,588,402 |  | 1,375,782 | 1,376,534
Central Bank compulsory deposits | 115,748 | 115,748 |  | 110,392 | 110,392
Interbank deposits | 59,592 | 59,868 |  | 69,942 | 70,112
Securities purchased under agreements to resell | 221,779 | 221,779 |  | 169,718 | 169,718
Securities | 219,315 | 219,133 |  | 147,746 | 147,219
Loan and financial lease | 909,422 | 910,738 |  | 822,590 | 823,699
Other financial assets | 111,823 | 111,823 |  | 96,473 | 96,473
(-) Provision for expected loss | (50,687) | (50,687) |  | (41,079) | (41,079)
Financial liabilities | 1,759,182 | 1,758,475 |  | 1,558,307 | 1,558,838
At Amortized Cost | 1,755,498 | 1,754,791 |  | 1,553,107 | 1,553,638
Deposits | 871,438 | 871,370 |  | 850,372 | 850,277
Securities sold under repurchase agreements | 293,440 | 293,440 |  | 252,848 | 252,848
Interbank market funds | 294,587 | 294,573 |  | 177,145 | 177,181
Institutional market funds | 129,382 | 128,757 |  | 138,636 | 139,226
Other financial liabilities | 166,651 | 166,651 |  | 134,106 | 134,106
Provision for Expected Loss | 3,684 | 3,684 |  | 5,200 | 5,200
Loan commitments | 2,874 | 2,874 |  | 4,433 | 4,433
Financial guarantees | 810 | 810 |  | 767 | 767

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